DAVIES CARRINGTON LIMITED - Filleted accounts

DAVIES CARRINGTON LIMITED - Filleted accounts

DAVIES CARRINGTON LIMITED - Company Information

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Registered number
04828761
DAVIES CARRINGTON LIMITED
Filleted Accounts
31 July 2017
DAVIES CARRINGTON LIMITED
Registered number: 04828761
Balance Sheet
as at 31 July 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 6,569 8,211
Current assets
Debtors 4 22,260 27,040
Cash at bank and in hand 26,025 14,129
48,285 41,169
Creditors: amounts falling due within one year 5 (28,002) (16,095)
Net current assets 20,283 25,074
Total assets less current liabilities 26,852 33,285
Creditors: amounts falling due after more than one year 6 (10,000) (10,000)
Provisions for liabilities (913) (1,212)
Net assets 15,939 22,073
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,839 21,973
Shareholders' funds 15,939 22,073
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C A Barlow
Director
Approved by the board on 26 February 2018
DAVIES CARRINGTON LIMITED
Notes to the Accounts
for the year ended 31 July 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% per annum reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
The company did not operate a pension scheme during the year.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 3 3
(including 2 directors)
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2016 28,544
At 31 July 2017 28,544
Depreciation
At 1 August 2016 20,333
Charge for the year 1,642
At 31 July 2017 21,975
Net book value
At 31 July 2017 6,569
At 31 July 2016 8,211
4 Debtors 2017 2016
£ £
Trade debtors and prepayments 22,260 27,040
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 1,505 1,087
Trade creditors and accruals 496 360
Corporation tax 22,767 14,256
Other taxes and social security costs 113 243
Other creditors - directors' current accounts 3,121 149
28,002 16,095
6 Creditors: amounts falling due after one year 2017 2016
£ £
Other creditors - directors' loan accounts 10,000 10,000
7 Events after the reporting date
There were no events after the reporting date which would affect the user's understanding of these accounts.
8 Contingent liabilities
There were no contingent liabilities in existence at the year end.
9 Related party transactions 2,017
£
Dividends paid:
Mr D A Fraser - director/shareholder 30,000
Mr C A Barlow - director/shareholder 30,000
10 Controlling party
The controlling parties are the directors, Mr D A Fraser and Mr C A Barlow, by virtue of their ownership of 100% of the issued ordinary share capital of the company, each holding 50%.
11 Other information
DAVIES CARRINGTON LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Fernhills Business Centre
Todd Street
Bury
BL9 5BJ
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