Damion Chew Design Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 07855871

Unaudited Financial Statements

for the Year Ended 30 November 2016

for

Damion Chew Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

Mr Damion Erik Chew

Registered office:

24 Stone Quarry Road

Burniston

Scarborough

North Yorkshire

YO13 0DF

Registered number:

07855871

Accountants:

Rayner & Co

Chartered Certified Accountants

6 Arundel Place

Scarborough

North Yorkshire

YO11 1TX

Fixed assets

Intangible assets

2

10,000

10,000

Tangible assets

3

1,335

1,577

11,335

11,577

Current assets

Debtors

4

3,432

3,216

Cash at bank and in hand

28,220

37,676

31,652

40,892

Creditors

Amounts falling due within one year

5

32,136

27,815

Net current (liabilities)/assets

(484

)

13,077

Total assets less current liabilities

10,851

24,654

Provisions for liabilities

6

267

315

Net assets

10,584

24,339

Capital and reserves

Called up share capital

7

100

100

Profit and loss account

8

10,484

24,239

Shareholders' funds

10,584

24,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 July 2017 and were signed by:

Mr Damion Erik Chew - Director

1.	Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

The turnover shown in the profit and loss account represents the total invoice value, excluding value

added tax, of sales made during the year. Sales are recognised in the profit and loss account when

invoiced.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the balance sheet date where transactions or events have occurred at that date that will

result in an obligation to pay more, or a right to pay less or to receive more tax, with the following

exceptions :

Deferred tax assets are recognised only to the extent that the director considers that it is more likely

than not that there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

2.	Intangible fixed assets

Goodwill

£

Cost

At 1 December 2015

and 30 November 2016

10,000

Net book value

At 30 November 2016

10,000

At 30 November 2015

10,000

3.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 December 2015

3,572

Additions

199

At 30 November 2016

3,771

Depreciation

At 1 December 2015

1,995

Charge for year

441

At 30 November 2016

2,436

Net book value

At 30 November 2016

1,335

At 30 November 2015

1,577

4.

Debtors: amounts falling due within one year

2016

2015

£

£

Trade debtors

3,125

2,897

Prepayments

307

319

3,432

3,216

5.

Creditors: amounts falling due within one year

2016

2015

£

£

Tax

2,610

6,172

Director's current account

28,360

21,532

Accruals

1,166

111

32,136

27,815

6.	Provisions for liabilities

2016

2015

£

£

Deferred tax

Accelerated capital allowances

267

315

Deferred tax

£

Balance at 1 December 2015

315

Credit to Profit and Loss Account during year

(48

)

Balance at 30 November 2016

267

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

8.

Reserves

Profit and

loss

account

£

At 1 December 2015

24,239

Profit for the year

10,245

Dividends

(24,000

)

At 30 November 2016

10,484

9.	Related party transactions

Mr Damion Erik Chew

Director

During the year dividends of £24,000 (2015 £2,500) were paid to the director.

2016

2015

£

£

Amount due to related party at the balance sheet date

28,360

21,532

10.	Controlling party

The controlling party is Mr Damion Erik Chew.

The director Mr D E Chew holds 100% of the company's issued ordinary share capital.