back to DAVIS CASH & COMPANY LIMITED detail Davis Cash & Company Limited - Accounts to registrar (filleted) - small 18.2
IRIS Accounts Production v18.3.1.72 00207032 director 1.11.17 31.10.18 31.10.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure002070322017-10-31002070322018-10-31002070322017-11-012018-10-31002070322016-10-31002070322016-11-012017-10-31002070322017-10-3100207032ns15:EnglandWales2017-11-012018-10-3100207032ns14:PoundSterling2017-11-012018-10-3100207032ns10:Director12017-11-012018-10-3100207032ns10:PrivateLimitedCompanyLtd2017-11-012018-10-3100207032ns10:SmallEntities2017-11-012018-10-3100207032ns10:AuditExempt-NoAccountantsReport2017-11-012018-10-3100207032ns10:SmallCompaniesRegimeForDirectorsReport2017-11-012018-10-3100207032ns10:SmallCompaniesRegimeForAccounts2017-11-012018-10-3100207032ns10:FullAccounts2017-11-012018-10-3100207032ns10:CompanySecretary12017-11-012018-10-3100207032ns10:RegisteredOffice2017-11-012018-10-3100207032ns5:CurrentFinancialInstruments2018-10-3100207032ns5:CurrentFinancialInstruments2017-10-3100207032ns5:Non-currentFinancialInstruments2018-10-3100207032ns5:Non-currentFinancialInstruments2017-10-3100207032ns5:ShareCapital2018-10-3100207032ns5:ShareCapital2017-10-3100207032ns5:FurtherSpecificReserve2ComponentTotalEquity2018-10-3100207032ns5:FurtherSpecificReserve2ComponentTotalEquity2017-10-3100207032ns5:RetainedEarningsAccumulatedLosses2018-10-3100207032ns5:RetainedEarningsAccumulatedLosses2017-10-3100207032ns5:LandBuildingsns5:ShortLeaseholdAssets2017-11-012018-10-3100207032ns5:PlantMachinery2017-11-012018-10-3100207032ns5:FurnitureFittings2017-11-012018-10-3100207032ns5:MotorVehicles2017-11-012018-10-3100207032ns5:ComputerEquipment2017-11-012018-10-3100207032ns5:LandBuildingsns5:ShortLeaseholdAssets2017-10-3100207032ns5:PlantMachinery2017-10-3100207032ns5:FurnitureFittings2017-10-3100207032ns5:LandBuildingsns5:ShortLeaseholdAssets2018-10-3100207032ns5:PlantMachinery2018-10-3100207032ns5:FurnitureFittings2018-10-3100207032ns5:LandBuildingsns5:ShortLeaseholdAssets2017-10-3100207032ns5:PlantMachinery2017-10-3100207032ns5:FurnitureFittings2017-10-3100207032ns5:MotorVehicles2017-10-3100207032ns5:ComputerEquipment2017-10-3100207032ns5:MotorVehicles2018-10-3100207032ns5:ComputerEquipment2018-10-3100207032ns5:MotorVehicles2017-10-3100207032ns5:ComputerEquipment2017-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-11-012018-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2018-10-3100207032ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2017-10-3100207032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-10-3100207032ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-10-3100207032ns5:CurrentFinancialInstrumentsns5:HirePurchaseContractsns5:WithinOneYear2018-10-3100207032ns5:CurrentFinancialInstrumentsns5:HirePurchaseContractsns5:WithinOneYear2017-10-3100207032ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2018-10-3100207032ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2017-10-3100207032ns5:HirePurchaseContracts2018-10-3100207032ns5:HirePurchaseContracts2017-10-3100207032ns5:WithinOneYear2018-10-3100207032ns5:WithinOneYear2017-10-3100207032ns5:BetweenOneFiveYears2018-10-3100207032ns5:BetweenOneFiveYears2017-10-3100207032ns5:MoreThanFiveYears2018-10-3100207032ns5:MoreThanFiveYears2017-10-3100207032ns5:AllPeriods2018-10-3100207032ns5:AllPeriods2017-10-3100207032ns5:DeferredTaxation2017-10-3100207032ns5:DeferredTaxation2017-11-012018-10-3100207032ns5:DeferredTaxation2018-10-3100207032ns5:RetainedEarningsAccumulatedLosses2017-10-3100207032ns5:FurtherSpecificReserve2ComponentTotalEquity2017-10-3100207032ns5:RetainedEarningsAccumulatedLosses2017-11-012018-10-31


REGISTERED NUMBER: 00207032 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

DAVIS CASH & COMPANY LIMITED

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DAVIS CASH & COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2018







DIRECTOR: P W Dayton





SECRETARY: E Love





REGISTERED OFFICE: Metalcraft Works
Alexandra Road
Ponders End
Middlesex
EN3 7EN





REGISTERED NUMBER: 00207032 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

BALANCE SHEET
31 OCTOBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 263,297 300,242

CURRENT ASSETS
Stocks 29,668 74,691
Debtors 5 296,566 361,407
Cash at bank and in hand 320,638 192,055
646,872 628,153
CREDITORS
Amounts falling due within one year 6 136,432 169,854
NET CURRENT ASSETS 510,440 458,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

773,737

758,541

CREDITORS
Amounts falling due after more than one
year

7

(24,960

)

(43,680

)

PROVISIONS FOR LIABILITIES 10 (37,230 ) (41,580 )
NET ASSETS 711,547 673,281

CAPITAL AND RESERVES
Called up share capital 11,954 11,954
Other reserves 11 22,753 22,753
Retained earnings 11 676,840 638,574
711,547 673,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 February 2019 and were signed by:





P W Dayton - Director


DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018


1. STATUTORY INFORMATION

Davis Cash & Company Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amount
receivable for goods supplied, net of returns, discounts and value added taxes.

Revenue is recognised when goods are delivered to the customer, such that the risks and rewards of
ownership have passed to them.

Revenue is adjusted for work in progress at the year end, based on the % completion of the job plus a
standard profit margin.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold property - Over the period of the lease
Plant and machinery - 12% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

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.

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.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2017 - 25 ) .

4. TANGIBLE FIXED ASSETS
Short Fixtures
leasehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2017 28,004 750,502 33,211
At 31 October 2018 28,004 750,502 33,211
DEPRECIATION
At 1 November 2017 17,521 480,188 29,421
Charge for year 1,283 33,789 758
At 31 October 2018 18,804 513,977 30,179
NET BOOK VALUE
At 31 October 2018 9,200 236,525 3,032
At 31 October 2017 10,483 270,314 3,790

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2017 14,400 32,244 858,361
Additions - 500 500
At 31 October 2018 14,400 32,744 858,861
DEPRECIATION
At 1 November 2017 6,871 24,118 558,119
Charge for year 753 862 37,445
At 31 October 2018 7,624 24,980 595,564
NET BOOK VALUE
At 31 October 2018 6,776 7,764 263,297
At 31 October 2017 7,529 8,126 300,242

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2017
and 31 October 2018 104,000
DEPRECIATION
At 1 November 2017 33,850
Charge for year 8,769
At 31 October 2018 42,619
NET BOOK VALUE
At 31 October 2018 61,381
At 31 October 2017 70,150

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 269,473 350,796
Other debtors 27,093 10,611
296,566 361,407

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts (see note 8) 18,720 18,720
Trade creditors 45,587 94,363
Taxation and social security 61,940 41,959
Other creditors 10,185 14,812
136,432 169,854

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Hire purchase contracts (see note 8) 24,960 43,680

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2018 2017
£    £   
Net obligations repayable:
Within one year 18,720 18,720
Between one and five years 24,960 43,680
43,680 62,400

DAVIS CASH & COMPANY LIMITED (REGISTERED NUMBER: 00207032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


8. LEASING AGREEMENTS - continued

Non-cancellable
operating leases
2018 2017
£    £   
Within one year 85,000 85,000
Between one and five years 340,000 340,000
In more than five years 212,500 276,250
637,500 701,250

9. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Hire purchase contracts 43,680 62,400

Hire purchase contracts are secured over the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax
Accelerated capital allowances 37,230 41,580

Deferred
tax
£   
Balance at 1 November 2017 41,580
Credit to Income Statement during year (4,350 )
Balance at 31 October 2018 37,230

11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 November 2017 638,574 22,753 661,327
Profit for the year 38,266 38,266
At 31 October 2018 676,840 22,753 699,593

12. ULTIMATE CONTROLLING PARTY

The controlling party is P W Dayton.