DIY_FRAMING_LIMITED - Accounts

DIY FRAMING LIMITED - Company Information

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Company Registration No. 04513393 (England and Wales)

DIY FRAMING LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

DIY FRAMING LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DIY FRAMING LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

59,799

53,836

Current assets

Stocks

68,070

67,301

Debtors

76,281

106,090

Cash at bank and in hand

18,469

10,585

162,820

183,976

Creditors: amounts falling due within one year

(144,284)

(145,350)

Net current assets

18,536

38,626

Total assets less current liabilities

78,335

92,462

Creditors: amounts falling due after more than one year

(39,127)

(46,868)

39,208

45,594

Capital and reserves

Called up share capital

111

Share premium account

39,989

Profit and loss account

(892)

5,494

Shareholders' funds

39,208

45,594

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 10 June 2016

Duncan McDonald

Director

Company Registration No. 04513393

DIY FRAMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Improvements to Leasehold

Straight line over life of lease.

Plant and machinery

25% reducing balance method

Fixtures, fittings & equipment

25% reducing balance method

Motor vehicles

25% reducing balance method

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2015

169,721

Additions

24,300

At 31 March 2016

194,021

Depreciation

At 1 April 2015

115,885

Charge for the year

18,337

At 31 March 2016

134,222

Net book value

At 31 March 2016

59,799

At 31 March 2015

53,836

DIY FRAMING LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

100 'A' Ordinary shares of £1 each

100

11 'B' Ordinary shares of £1 each

111