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Unaudited Financial Statements |
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for the Year Ended 31 October 2018 |
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for |
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N R Davies Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 October 2018 |
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for |
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N R Davies Limited |
N R Davies Limited (Registered number: 04935823) |
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Contents of the Financial Statements |
for the year ended 31 October 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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N R Davies Limited |
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Company Information |
for the year ended 31 October 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Broncoed House |
Broncoed Business Park |
Wrexham Road |
Mold |
Flintshire |
CH7 1HP |
N R Davies Limited (Registered number: 04935823) |
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Balance Sheet |
31 October 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and
of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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N R Davies Limited (Registered number: 04935823) |
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Notes to the Financial Statements |
for the year ended 31 October 2018 |
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1. | STATUTORY INFORMATION |
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N R Davies Limited is a
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registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and |
other sales taxes. |
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When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the |
balance sheet date. Stage of completion is measured by reference to a notable milestone. |
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Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are |
recoverable. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs |
attributable to bringing the asset to its working condition for its intended use. |
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Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset |
on a systematic basis over its expected useful life as follows: |
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Improvements to property - 20% on cost |
Plant and machinery - 10% on cost |
Motor vehicles - 25% on reducing balance |
Computer equipment - 10% on cost |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their |
present location and condition. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to |
items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are |
recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by |
the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against |
the reversal of deferred tax liabilities or other future taxable profits. |
N R Davies Limited (Registered number: 04935823) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase |
contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful |
lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments |
is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to |
profit or loss in the period to which they relate. |
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Share capital |
Ordinary shares are classed as equity. |
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Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are |
recognised in the profit and loss account. |
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Distributions to equity holders |
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's |
shareholders. These amounts are recognised in the statement of changes in equity. |
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Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within |
borrowings in current liabilities. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Improvements | Plant and | Motor | Computer |
to property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
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Charge for year |
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At 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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N R Davies Limited (Registered number: 04935823) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 November 2017 |
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Additions |
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At 31 October 2018 |
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DEPRECIATION |
At 1 November 2017 |
and 31 October 2018 |
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NET BOOK VALUE |
At 31 October 2018 |
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At 31 October 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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N R Davies Limited (Registered number: 04935823) |
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Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 October 2018 and 31 October 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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These amounts were repaid on 10 January 2019. |