| Idris Davies Limited |
| Registered number: |
01924278 |
| Abbreviated Balance Sheet |
| as at 31 December 2013 |
|
| Notes |
|
|
2013 |
|
|
2012 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,142 |
|
|
3,826 |
| Investments |
3 |
|
|
15,179,413 |
|
|
14,879,867 |
|
|
|
|
15,181,555 |
|
|
14,883,693 |
|
| Current assets |
| Stocks |
|
|
1,000,834 |
|
|
344,877 |
| Debtors |
|
|
862,238 |
|
|
1,692,030 |
| Cash at bank and in hand |
|
|
3,150,718 |
|
|
824,572 |
|
|
|
5,013,790 |
|
|
2,861,479 |
|
| Creditors: amounts falling due within one year |
|
|
(1,139,400) |
|
|
(1,109,541) |
|
| Net current assets |
|
|
|
3,874,390 |
|
|
1,751,938 |
|
| Total assets less current liabilities |
|
|
|
19,055,945 |
|
|
16,635,631 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(6,930,224) |
|
|
(4,877,632) |
|
|
|
| Net assets |
|
|
|
12,125,721 |
|
|
11,757,999 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
2,264 |
|
|
2,264 |
| Share premium |
|
|
|
169,736 |
|
|
169,736 |
| Revaluation reserve |
|
|
|
7,120,103 |
|
|
6,972,427 |
| Profit and loss account |
|
|
|
4,833,618 |
|
|
4,613,572 |
|
| Shareholders' funds |
|
|
|
12,125,721 |
|
|
11,757,999 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| DOC Davies |
| Director |
| Approved by the board on 28 July 2014 |
|
| Idris Davies Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2013 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
No provision is made for deferred taxation on the revaluation of investment properties unless the company has entered into a binding agreement to sell the revalued asset at the balance sheet date. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Investment properties |
|
Investment property comprise of freehold properties that are held to earn rentals or for capital appreciation or both. They are not depreciated but are stated at market value based on valuations by the directors. |
|
|
Exemption to prepare consolidated accounts |
|
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company is therefore not required to and has chosen not to prepare group accounts. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2013 |
33,998 |
|
Additions |
145 |
|
Disposals |
(28,329) |
|
At 31 December 2013 |
5,814 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2013 |
30,172 |
|
Charge for the year |
793 |
|
On disposals |
(27,293) |
|
At 31 December 2013 |
3,672 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2013 |
2,142 |
|
At 31 December 2012 |
3,826 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 January 2013 |
14,879,867 |
|
Additions |
161,254 |
|
Disposals |
(831) |
|
Revaluation |
139,123 |
|
|
At 31 December 2013 |
15,179,413 |
|
|
|
|
|
|
|
|
The company holds 20% or more of the share capital of the following companies: |
|
| Capital and |
Profit (loss) |
|
Company |
Shares held |
reserves |
for the year |
|
|
Class |
% |
£ |
£ |
|
Brittex Real Estate Corporation (incorporated in the USA) |
Ordinary |
100 |
|
1,065,037 |
|
85,191 |
|
| 4 |
Loans |
2013 |
|
2012 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
4,169,670 |
|
2,486,614 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2013 |
|
2013 |
|
2012 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2,264 |
|
2,264 |
|
2,264 |
|
10% Preference shares |
£1 each |
|
1,500,000 |
|
1,500,000 |
|
1,500,000 |
|
|
|
|
|
|
1,502,264 |
|
1,502,264 |
|
|
|
|
|
|
|
|
|
