Davis Engineering Limited - Period Ending 2016-10-31

Registration number: 04571960

Davis Engineering Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 October 2016

Allen Rose
Chartered Certified Accountants
PA068 Technology Centre
Wolverhampton Science Park
Glaisher Drive
Wolverhampton
West Midlands
WV10 9RU

Davis Engineering Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Davis Engineering Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Davis Engineering Limited for the year ended 31 October 2016 set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Davis Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Davis Engineering Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Davis Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Davis Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Davis Engineering Limited. You consider that Davis Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Davis Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Allen Rose
Chartered Certified Accountants
PA068 Technology Centre
Wolverhampton Science Park
Glaisher Drive
Wolverhampton
West Midlands
WV10 9RU

13 June 2017

Page 1

Davis Engineering Limited

(Registration number: 04571960)
Abbreviated Balance Sheet as at 31 October 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets		10,823	12,734
Current assets
Debtors		-	6,155
Cash at bank and in hand		190,533	239,062
		190,533	245,217
Creditors: Amounts falling due within one year		(3,964)	(10,253)
Net current assets		186,569	234,964
Total assets less current liabilities		197,392	247,698
Provisions for liabilities		-	(1,405)
Net assets		197,392	246,293
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		197,292	246,193
Shareholders' funds		197,392	246,293

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 June 2017 and signed on its behalf by:

.........................................
D W Davis
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Davis Engineering Limited

Notes to the Abbreviated Accounts

1	Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment	33% on cost

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

Davis Engineering Limited

Notes to the Abbreviated Accounts (continued)

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2015	59,740	59,740
At 31 October 2016	59,740	59,740
Depreciation
At 1 November 2015	47,006	47,006
Charge for the year	1,911	1,911
At 31 October 2016	48,917	48,917
Net book value
At 31 October 2016	10,823	10,823
At 31 October 2015	12,734	12,734

3	Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

4	Related party transactions

Transactions with directors

Dividends paid to directors

	2016 £	2015 £
D W Davis
Interim dividends	15,000	20,000
K D Davis
Interim dividends	15,000	20,000

Page 4