DM Contractors (Wellington) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04002880 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2018

FOR

DM CONTRACTORS (WELLINGTON) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A J Vincent

Mrs P M Hill

REGISTERED OFFICE:

Poole Industrial Estate

Poole

Wellington

Somerset

TA21 9HW

REGISTERED NUMBER:

04002880 (England and Wales)

ACCOUNTANTS:

Aspen Waite Doyle

Old Town Hall

Fore Street

Wellington

Somerset

TA21 8LS

BANKERS:

Lloyds TSB

Fore Street

Taunton

Somerset

TA1 1HN

FIXED ASSETS

Tangible assets

4

91,670

86,267

CURRENT ASSETS

Stocks

18,500

17,800

Debtors

5

44,569

48,940

Cash at bank

25,906

28,633

88,975

95,373

CREDITORS

Amounts falling due within one year

6

(37,242

)

(50,768

)

NET CURRENT ASSETS

51,733

44,605

TOTAL ASSETS LESS CURRENT LIABILITIES

143,403

130,872

CREDITORS

Amounts falling due after more than one year

7

(60,000

)

(40,000

)

PROVISIONS FOR LIABILITIES

(17,166

)

(16,391

)

NET ASSETS

66,237

74,481

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

66,137

74,381

SHAREHOLDERS' FUNDS

66,237

74,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 and authorised for issue by the Board of Directors on 13th February 2019 and were signed on its behalf by:

Mrs P M Hill - Director

1.	STATUTORY INFORMATION

DM Contractors (Wellington) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st June 2017

57,102

277,978

2,219

337,299

Additions

18,871

-

-

18,871

At 31st May 2018

75,973

277,978

2,219

356,170

DEPRECIATION

At 1st June 2017

45,036

204,077

1,919

251,032

Charge for year

2,282

11,085

101

13,468

At 31st May 2018

47,318

215,162

2,020

264,500

NET BOOK VALUE

At 31st May 2018

28,655

62,816

199

91,670

At 31st May 2017

12,066

73,901

300

86,267

The net book value of tangible fixed assets includes £NIL (2017 - £ 28,105 ) in respect of assets held under hire

purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/18

31/5/17

£

£

Trade debtors

36,870

46,967

Corporation tax recoverable

2,857

-

Prepayments

4,842

1,973

44,569

48,940

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/18

31/5/17

£

£

Hire purchase contracts

-

7,318

Trade creditors

5,947

6,207

Corporation tax

-

2,857

Social security and other taxes

8,332

12,484

Other creditors

1,039

-

Directors' current accounts

21,924

21,902

37,242

50,768

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/18

31/5/17

£

£

Directors' loan account

60,000

40,000