Abbreviated Company Accounts - DRUCE & CO LIMITED

03242797 DRUCE & CO LIMITED 2016-06-30 false 2015-07-01 2016-06-30 true 03242797 2015-07-01 2016-06-30 03242797 2016-06-30 03242797 2015-06-30 03242797 uk-gaap-cd-bus:Director1 2015-07-01 2016-06-30 03242797 uk-gaap-cd-bus:Director2 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-07-01 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-06-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-30 iso4217:GBP shares

Registered Number 03242797

DRUCE & CO LIMITED

Abbreviated Accounts

30 June 2016

DRUCE & CO LIMITED Registered Number 03242797

Abbreviated Balance Sheet as at 30 June 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	4,797	24,049
Investments	3	1,350	1,350
		6,147	25,399
Current assets
Debtors		191,940	214,948
Cash at bank and in hand		2,202,503	1,879,175
		2,394,443	2,094,123
Creditors: amounts falling due within one year		(3,469,565)	(3,148,553)
Net current assets (liabilities)		(1,075,122)	(1,054,430)
Total assets less current liabilities		(1,068,975)	(1,029,031)
Total net assets (liabilities)		(1,068,975)	(1,029,031)
Capital and reserves
Called up share capital	4	100,000	100,000
Profit and loss account		(1,168,975)	(1,129,031)
Shareholders' funds		(1,068,975)	(1,029,031)

For the year ending 30 June 2016 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 30 June 2016

And signed on their behalf by:
Mr. G. Verhoef, Director

DRUCE & CO LIMITED Registered Number 03242797

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Fixtures, fittings and equipment - 33.33% straight line.

Other accounting policies
Pensions
The pension costs charged in the financial statements represent the contribution payable by the company during the year.
The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees’ service lives on the basis of a constant percentage of earnings.

Going concern
After making enquiries, the director has formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company will continue to have support from its members. For this reason, the director adopts the going concern basis in preparing the financial statements.

Ultimate parent undertaking
The ultimate parent company of Druce & Co Ltd is Duratar Holdings Limited, a company registered and incorporated in Luxembourg.

2Intangible fixed assets

	£
Cost
At 1 July 2015	385,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2016	385,000
Amortisation
At 1 July 2015	360,951
Charge for the year	19,252
On disposals	-
At 30 June 2016	380,203
Net book values
At 30 June 2016	4,797
At 30 June 2015	24,049

3Fixed assets Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100,000 Ordinary shares of £1 each	100,000	100,000