Daly Makeup Limited - Abbreviated accounts 16.3

Daly Makeup Limited - Abbreviated accounts 16.3


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REGISTERED NUMBER: NI609567 (Northern Ireland)















ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

DALY MAKEUP LIMITED

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016










Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

DALY MAKEUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2016







DIRECTORS: Ms C J Daly
Ms A M Daly





SECRETARY: Ms A M Daly





REGISTERED OFFICE: 475 Lisburn Road
Belfast
BT9 7EN





REGISTERED NUMBER: NI609567 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
Co. Antrim
BT1 3BG

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

ABBREVIATED BALANCE SHEET
31 OCTOBER 2016

31.10.16 31.10.15
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 11,215 9,240

CURRENT ASSETS
Stocks 20,717 5,000
Debtors 12,637 2,079
Cash at bank 38,634 57,122
71,988 64,201
CREDITORS
Amounts falling due within one year 48,397 37,034
NET CURRENT ASSETS 23,591 27,167
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,806

36,407

PROVISIONS FOR LIABILITIES 2,405 1,200
NET ASSETS 32,401 35,207

CAPITAL AND RESERVES
Called up share capital 3 100 100
Retained earnings 32,301 35,107
SHAREHOLDERS' FUNDS 32,401 35,207

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

ABBREVIATED BALANCE SHEET - continued
31 OCTOBER 2016


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were authorised for issue by the Board of Directors on 16 May 2017 and were signed on its
behalf by:





Ms C J Daly - Director


DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The
financial statements have been prepared under the historical cost convention.

These are the company's first set of financial statements prepared in accordance with FRS 102. The date of
transition was 1 November 2014. There were no changes to the reported financial position and performance of
the company at the date of transition.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d).

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into
consideration in reaching such a decision include the economic viability and expected future financial
performance of the asset and the business in general.

Consider the valuation of stock and the requirement for write down provisions. These considerations are
undertaken regularly by the directors, and especially at the year end date. Factors taken into account include
historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in
the relevant period.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to
support these and that the estimates remains reasonable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2016


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 November 2015 15,242
Additions 7,998
At 31 October 2016 23,240
DEPRECIATION
At 1 November 2015 6,002
Charge for year 6,023
At 31 October 2016 12,025
NET BOOK VALUE
At 31 October 2016 11,215
At 31 October 2015 9,240

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.16 31.10.15
value: £    £   
100 Ordinary £1 100 100