Dotcom Associates Limited Small abridged accounts

Dotcom Associates Limited Small abridged accounts

H&H DOTCOM LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of Dotcom Associates Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 06694209
Dotcom Associates Limited
Unaudited Abridged Financial Statements
28 February 2017
Dotcom Associates Limited
Abridged Financial Statements
Year ended 28 February 2017
Contents
Pages
Director's report
1
Abridged statement of income and retained earnings
2
Abridged statement of financial position
3 to 4
Notes to the abridged financial statements
5 to 7
The following pages do not form part of the abridged financial statements
Detailed abridged income statement
9
Notes to the detailed abridged income statement
10
Dotcom Associates Limited
Director's Report
Year ended 28 February 2017
The director presents his report and the unaudited abridged financial statements of the company for the year ended 28 February 2017 .
Director
The director who served the company during the year was as follows:
Mr A Bewley
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 28 February 2018 and signed on behalf of the board by:
Mr A Bewley
Director
Registered office:
Unit 7d
Lakeland Business Park
Cockermouth
Cumbria
United Kingdom
CA13 0QT
Dotcom Associates Limited
Abridged Statement of Income and Retained Earnings
Year ended 28 February 2017
2017
2016
Note
£
£
Gross profit
192,154
248,932
Distribution costs
( 33,663)
( 57,198)
Administrative expenses
( 130,272)
( 134,424)
----------
----------
Operating profit
28,219
57,310
Interest payable and similar expenses
( 158)
( 444)
----------
----------
Profit before taxation
5
28,061
56,866
Tax on profit
( 6,261)
( 11,474)
----------
----------
Profit for the financial year and total comprehensive income
21,800
45,392
----------
----------
Dividends paid and payable
( 16,253)
( 19,504)
Retained earnings/(losses) at the start of the year
20,600
( 5,288)
----------
----------
Retained earnings at the end of the year
26,147
20,600
----------
----------
All the activities of the company are from continuing operations.
Dotcom Associates Limited
Abridged Statement of Financial Position
28 February 2017
2017
2016
Note
£
£
Fixed assets
Intangible assets
6
48,000
52,000
Tangible assets
7
2,581
3,226
----------
----------
50,581
55,226
Current assets
Debtors
66,449
40,364
Cash at bank and in hand
415
15,782
----------
----------
66,864
56,146
Creditors: amounts falling due within one year
( 76,493)
( 65,967)
----------
----------
Net current liabilities
( 9,629)
( 9,821)
----------
----------
Total assets less current liabilities
40,952
45,405
Creditors: amounts falling due after more than one year
( 14,803)
( 24,803)
----------
----------
Net assets
26,149
20,602
----------
----------
Dotcom Associates Limited
Abridged Statement of Financial Position (continued)
28 February 2017
2017
2016
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
26,147
20,600
----------
----------
Shareholders funds
26,149
20,602
----------
----------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 28 February 2018 , and are signed on behalf of the board by:
Mr A Bewley
Director
Company registration number: 06694209
Dotcom Associates Limited
Notes to the Abridged Financial Statements
Year ended 28 February 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7d, Lakeland Business Park, Cockermouth, Cumbria, CA13 0QT, United Kingdom.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20 Years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20%
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2016: 4 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2017
2016
£
£
Amortisation of intangible assets
4,000
4,000
Depreciation of tangible assets
645
806
----------
----------
6. Intangible assets
£
Cost
At 1 March 2016 and 28 February 2017
80,000
----------
Amortisation
At 1 March 2016
28,000
Charge for the year
4,000
----------
At 28 February 2017
32,000
----------
Carrying amount
At 28 February 2017
48,000
----------
At 29 February 2016
52,000
----------
7. Tangible assets
£
Cost
At 1 March 2016 and 28 February 2017
9,367
----------
Depreciation
At 1 March 2016
6,141
Charge for the year
645
----------
At 28 February 2017
6,786
----------
Carrying amount
At 28 February 2017
2,581
----------
At 29 February 2016
3,226
----------
8. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Dotcom Associates Limited
Management Information
Year ended 28 February 2017
The following pages do not form part of the abridged financial statements.
Dotcom Associates Limited
Detailed Abridged Income Statement
Year ended 28 February 2017
2017
2016
£
£
Turnover
436,316
653,113
Cost of sales
Opening stock - raw materials
–
750
Product purchases
–
81
E commerce purchases
210,489
340,995
Paypal, ebay, amazon, playtrade fees etc
30,129
56,517
Packaging
3,544
5,838
----------
----------
244,162
404,181
----------
----------
Gross profit
192,154
248,932
Overheads
Distribution costs
33,663
57,198
Administrative expenses
130,272
134,424
----------
----------
163,935
191,622
----------
----------
Operating profit
28,219
57,310
Interest payable and similar expenses
(158)
(444)
----------
----------
Profit before taxation
28,061
56,866
----------
----------
Dotcom Associates Limited
Notes to the Detailed Abridged Income Statement
Year ended 28 February 2017
2017
2016
£
£
Distribution costs
Freight and carriage
33,663
57,198
----------
----------
Administrative expenses
Directors salaries
8,264
10,546
Directors national insurance contributions
27
–
Wages and salaries
58,107
62,898
Staff national insurance contributions
1,751
3,666
Staff pension contributions - defined contribution
46
–
Rent
6,200
6,200
Rates and water
950
928
Light and heat
800
1,250
Insurance
2,135
2,487
Service charge
2,083
2,083
Motor expenses
1,909
2,137
Travel and subsistence
148
174
Hosting fees
13,117
13,997
Telephone
1,897
1,902
Equipment hire
624
682
Outsourcing fees
1,798
11,452
Printing postage and stationery
–
44
Sundry expenses
4,460
497
IT costs
15,436
1,462
Advertising
1,500
2,047
Merchant charges
773
1,102
Legal and professional fees (allowable)
564
831
Accountancy fees
2,110
2,310
Amortisation of intangible assets
4,000
4,000
Depreciation of tangible assets
645
806
Bank charges
928
923
----------
----------
130,272
134,424
----------
----------
Interest payable and similar expenses
Interest on bank loans and overdrafts
135
94
Other interest payable and similar charges
23
350
----------
----------
158
444
----------
----------