DRS_BOND_MANAGEMENT_LIMIT - Accounts

DRS BOND MANAGEMENT LIMITED - Company Information

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Company Registration No. 06823289 (England and Wales)

DRS BOND MANAGEMENT LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

DRS BOND MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

79,939

26,509

Current assets

Debtors

105,094

76,692

Cash at bank and in hand

130,389

10,676

235,483

87,368

Creditors: amounts falling due within one year

(53,866)

(37,690)

Net current assets

181,617

49,678

Total assets less current liabilities

261,556

76,187

Creditors: amounts falling due after more than one year

(203,610)

(313,487)

57,946

(237,300)

Capital and reserves

Called up share capital

1,250

1,000

Share premium account

249,750

Profit and loss account

(193,054)

(238,300)

Shareholders' funds

57,946

(237,300)

DRS BOND MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2014

- 2 -

For the financial year ended 30 June 2014 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 1 September 2014

Mr Christopher Davies

Director

Company Registration No. 06823289

DRS BOND MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

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 April 2008).

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 surety income for the year.

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:

Computer equipment

25% Straight Line / 25% Reducing Balance

Fixtures, fittings & equipment

25% Reducing Balance

Fixed assets

Tangible assets

Cost

At 1 July 2013

38,845

Additions

64,344

At 30 June 2014

103,189

Depreciation

At 1 July 2013

12,336

Charge for the year

10,914

At 30 June 2014

23,250

Net book value

At 30 June 2014

79,939

At 30 June 2013

26,509

DRS BOND MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 4 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

9,599

18,227

Share capital

2014

2013

Allotted, called up and fully paid

1,250 Ordinary £1 Shares of £1 each

1,250

1,000

During the year the following share issues took place to provide additional working capital. All shares were allotted and fully paid at par for cash consideration.

28/01/2014 - 87 ordinary shares of £1 each
28/01/2014 - 163 ordinary shares of £1 each

The share premium arising from these two transactions amounted to £249,750.