Darbey Associates Limited - Abbreviated accounts

Darbey Associates Limited - Abbreviated accounts


Registered number
09603724
Darbey Associates Limited
Abbreviated Accounts
31 May 2016
Darbey Associates Limited
Registered number: 09603724
Abbreviated Balance Sheet
as at 31 May 2016
Notes 2016
£
Fixed assets
Tangible assets 2 913
Current assets
Debtors 5,698
Cash at bank and in hand 35,115
40,813
Creditors: amounts falling due within one year (26,084)
Net current assets 14,729
Net assets 15,642
Capital and reserves
Called up share capital 3 2
Profit and loss account 15,640
Shareholder's funds 15,642
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.
The member has 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.
S Darbey
Director
Approved by the board on 21 October 2016
Darbey Associates Limited
Notes to the Abbreviated Accounts
for the period ended 31 May 2016
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 January 2015).
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 25% straight line
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.
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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
Additions 1,218
At 31 May 2016 1,218
Depreciation
Charge for the period 305
At 31 May 2016 305
Net book value
At 31 May 2016 913
3 Share capital Nominal 2016 2016
value Number £
Allotted, called up and fully paid:
Ordinary shares £1 each 2 2
Nominal Number Amount
value £
Shares issued during the period:
Ordinary shares £1 each 2 2
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