DASC Electrical Ltd - Accounts to registrar - small 17.2

DASC Electrical Ltd - Accounts to registrar - small 17.2


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REGISTERED NUMBER: 06622811(England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

DASC ELECTRICAL LTD

DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DASC ELECTRICAL LTD

COMPANY INFORMATION
for the Year Ended 31 March 2017







DIRECTOR: D P Musgrave





SECRETARY: D P Musgrave





REGISTERED OFFICE: 46 Park Avenue
Princes Avenue
Hull
East Yorkshire
HU5 3ER





REGISTERED NUMBER: 06622811(England and Wales)





ACCOUNTANTS: The Accountancy & Administration Bureau
31 Thornfields
Thorngumbald
East Riding

DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)

BALANCE SHEET
31 March 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,846 45,472

CURRENT ASSETS
Stocks 100,256 31,774
Debtors 5 146,411 132,699
Cash at bank and in hand 101 69,043
246,768 233,516
CREDITORS
Amounts falling due within one year 6 238,549 242,161
NET CURRENT ASSETS/(LIABILITIES) 8,219 (8,645 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,065

36,827

CREDITORS
Amounts falling due after more than one
year

7

(23,421

)

(27,834

)

PROVISIONS FOR LIABILITIES (5,569 ) (9,094 )
NET ASSETS/(LIABILITIES) 7,075 (101 )

CAPITAL AND RESERVES
Called up share capital 200 100
Retained earnings 6,875 (201 )
SHAREHOLDERS' FUNDS 7,075 (101 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)

BALANCE SHEET - continued
31 March 2017


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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 10 October 2017and were signed by:





D P Musgrave- Director


DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

DASC Electrical Ltd is a private company, limited by shares, registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12.

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2016 75,487
Additions 863
At 31 March 2017 76,350
DEPRECIATION
At 1 April 2016 30,015
Charge for year 18,489
At 31 March 2017 48,504
NET BOOK VALUE
At 31 March 2017 27,846
At 31 March 2016 45,472

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2016
and 31 March 2017 54,433
DEPRECIATION
At 1 April 2016 15,801
Charge for year 14,012
At 31 March 2017 29,813
NET BOOK VALUE
At 31 March 2017 24,620
At 31 March 2016 38,632

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 75,011 131,068
Other debtors 71,400 1,631
146,411 132,699

DASC ELECTRICAL LTD (REGISTERED NUMBER: 06622811)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 14,834 -
Hire purchase contracts 12,552 11,911
Trade creditors 122,816 61,586
Taxation and social security 70,510 161,062
Other creditors 17,837 7,602
238,549 242,161

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 7,586 -
Hire purchase contracts 15,835 27,834
23,421 27,834

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 770 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 9,290 -
Hire purchase contracts 28,387 39,745
37,677 39,745

The bank loan is secured by a fixed and floating charge over all assets of the company.

The hire purchase loans are secured over the vehicles purchased.