DOMONEY_LIMITED - Accounts


Company Registration No. 4674417 (England and Wales)
DOMONEY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
DOMONEY LIMITED
COMPANY INFORMATION
Director
D Domoney
Company number
4674417
Registered office
The Old Mill
Mill Lane
Kineton
Warwickshire
CV35 0LA
Accountants
Neal and Co Business Services Limited
Shakespeare Buildings
26 Cradley Road
Cradley Heath
West Midlands
B64 6AG
DOMONEY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
DOMONEY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
4
200
200
Current assets
Debtors
5
120,416
95,736
Cash at bank and in hand
29,057
51,364
149,473
147,100
Creditors: amounts falling due within one year
6
(86,320)
(113,687)
Net current assets
63,153
33,413
Total assets less current liabilities
63,353
33,613
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
63,352
33,612
Total equity
63,353
33,613

The director of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 28 September 2017 and are signed on its behalf by:
D Domoney
Director
Company Registration No. 4674417
DOMONEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 2 -
1
Accounting policies
Company information

Domoney Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Mill, Mill Lane, Kineton, Warwickshire, CV35 0LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
None
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

DOMONEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 6 (2015 - 6).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2016 and 31 December 2016
30,000
Amortisation and impairment
At 1 January 2016 and 31 December 2016
30,000
Carrying amount
At 31 December 2016
-
At 31 December 2015
-
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2016 and 31 December 2016
200
19,727
19,927
Depreciation and impairment
At 1 January 2016 and 31 December 2016
-
19,727
19,727
Carrying amount
At 31 December 2016
200
-
200
At 31 December 2015
200
-
200
DOMONEY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 4 -
5
Debtors
2016
2015
Amounts falling due within one year:
£
£
Trade debtors
8,175
28,840
Other debtors
112,241
66,896
120,416
95,736
6
Creditors: amounts falling due within one year
2016
2015
£
£
Bank loans and overdrafts
12,971
-
Trade creditors
41,900
84,962
Corporation tax
22,375
22,574
Other taxation and social security
3,459
3,151
Other creditors
5,615
3,000
86,320
113,687
7
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
1Ordinary Shares of £1 each
1
1
1
1
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