Development Portfolio Management Limited - Period Ending 2017-12-31
Development Portfolio Management Limited - Period Ending 2017-12-31
Registration number:
Development Portfolio Management Limited
for the Year Ended 31 December 2017
13 The Courtyard
Timothys Bridge Road
Stratford Upon Avon
Warwickshire
CV37 9NP
Development Portfolio Management Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Development Portfolio Management Limited
Company Information
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Directors |
Mr Ian Willicombe Mr Paul Tolley |
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Company secretary |
Mr Ian Willicombe |
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Registered office |
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Registered number |
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Accountants |
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Page 1 |
Development Portfolio Management Limited
(Registration number: 05282547)
Balance Sheet as at 31 December 2017
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Note |
2017 |
2016 |
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Current assets |
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Stocks |
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- |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mr Paul Tolley
Director
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Page 2 |
Development Portfolio Management Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company's registered number and registered office address can be found on the Company Information page.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
33% on cost |
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Page 3 |
Development Portfolio Management Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Page 4 |
Development Portfolio Management Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
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Tangible assets |
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Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2017 |
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At 31 December 2017 |
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Depreciation |
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At 1 January 2017 |
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At 31 December 2017 |
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Carrying amount |
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At 31 December 2017 |
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- |
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Stocks |
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2017 |
2016 |
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Work in progress |
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- |
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Debtors |
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2017 |
2016 |
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Other debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
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2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Page 5 |
Development Portfolio Management Limited
Notes to the Financial Statements for the Year Ended 31 December 2017
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2017 |
2016 |
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Remuneration |
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Page 6 |