D A Giles Limited - Period Ending 2015-03-31

Registration number: 06502122

D A Giles Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Matthews Cooper Limited
Chartered Accountants
52 Killigrew Street
Falmouth
Cornwall
TR11 3PP

D A Giles Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

D A Giles Limited
(Registration number: 06502122)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					325,000			350,000
Tangible fixed assets					32,813			32,512
					357,813			382,512
Current assets
Debtors					967,891			999,931
Cash at bank and in hand					315,051			329,447
					1,282,942			1,329,378
Creditors: Amounts falling due within one year					(893,189)			(1,050,531)
Net current assets					389,753			278,847
Total assets less current liabilities					747,566			661,359
Creditors: Amounts falling due after more than one year					(57,743)			-
Provisions for liabilities					(3,462)			(3,129)
Net assets					686,361			658,230
Capital and reserves
Called up share capital		4			101			100
Profit and loss account					686,260			658,130
Shareholders' funds					686,361			658,230

For the year ending 31 March 2015 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 10 September 2015 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

D A Giles Limited
(Registration number: 06502122)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mr DA Giles
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

D A Giles Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is amortised over its estimated economic life.

Asset class	Amortisation method and rate
Goodwill	Straight line over 20 years

Depreciation

Depreciation is provided at various rates to write off the value of fixed assets over their estimated economic life.

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Motor vehicles	25% reducing balance

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

D A Giles Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		500,000			135,365			635,365
Additions		-			11,240			11,240
At 31 March 2015		500,000			146,605			646,605
Depreciation
At 1 April 2014		150,000			102,853			252,853
Charge for the year		25,000			10,939			35,939
At 31 March 2015		175,000			113,792			288,792
Net book value
At 31 March 2015		325,000			32,813			357,813
At 31 March 2014		350,000			32,512			382,512

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		27,314			-
Amounts falling due after more than one year		57,743			-
Total secured creditors		85,057			-

Page 4

D A Giles Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100
Ordinary B of £1 (2014 - £0.00) each		1			1			-			-
		101			101			100			100

New shares allotted

During the year 1 B Ordinary share having an aggregate nominal value of £1 were allotted for an aggregate consideration of £1.

Page 5