Deercreek Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: NI629275

		31 March 2018		Period to 31 March 2017
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		409,406		35,815

			409,406		35,815
CURRENT ASSETS
Stocks	4	16,858		16,881
Debtors	5	57,138		3,583
Cash at bank and in hand		35,318		86,826

		109,314		107,290
Creditors: Amounts Falling Due Within One Year	6	(500,254 )		(140,181 )

NET CURRENT ASSETS (LIABILITIES)			(390,940 )		(32,891 )

TOTAL ASSETS LESS CURRENT LIABILITIES			18,466		2,924

NET ASSETS			18,466		2,924

Profit and Loss Account			18,466		2,924

SHAREHOLDERS' FUNDS			18,466		2,924

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Deercreek Limited

Balance Sheet (continued)

As at 31 March 2018

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Fraser Greenhill

12/12/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	N/A
Plant & Machinery	25% Straight Line
Motor Vehicles	25% Straight Line
Fixtures & Fittings	25% Straight Line
Computer Equipment	25% Straight Line

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Deercreek Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2018

1.5. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

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Deercreek Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2018

3. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2017	20,000	6,255	7,495	5,912
Additions	377,000	2,195	-	-

As at 31 March 2018	397,000	8,450	7,495	5,912

Depreciation
As at 1 April 2017	-	1,694	2,030	1,601
Provided during the period	-	2,113	1,874	1,478

As at 31 March 2018	-	3,807	3,904	3,079

Net Book Value
As at 31 March 2018	397,000	4,643	3,591	2,833

As at 1 April 2017	20,000	4,561	5,465	4,311


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2017	2,027	41,689
Additions	490	379,685

As at 31 March 2018	2,517	421,374

Depreciation
As at 1 April 2017	549	5,874
Provided during the period	629	6,094

As at 31 March 2018	1,178	11,968

Net Book Value
As at 31 March 2018	1,339	409,406

As at 1 April 2017	1,478	35,815

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Deercreek Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2018

4. Stocks

	31 March 2018	Period to 31 March 2017
	£	£
Stock - materials and work in progress	13,950	14,222
Stock - materials	2,908	2,659

	16,858	16,881

5. Debtors

	31 March 2018	Period to 31 March 2017
	£	£
Due within one year
Prepayments and accrued income	5,044	3,333
Other debtors	250	250
VAT	51,810	-
Directors' loan accounts	34	-

	57,138	3,583

6. Creditors: Amounts Falling Due Within One Year

	31 March 2018	Period to 31 March 2017
	£	£
Trade creditors	478,231	32,868
Corporation tax	4,979	23
Other taxes and social security	2,737	5,099
VAT	-	90,357
Net wages	526	-
Other creditors	12,218	8,084
Accruals and deferred income	1,563	3,400
Directors' loan accounts	-	350

	500,254	140,181

7. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

The above loan is unsecured, interest free and repayable on demand.

8. General Information

Deercreek Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI629275. The registered office is 7-9 Moat Street, Donaghadee, BT21 0DA.

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