Development Contracting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05132924 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2018

for

Development Contracting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S F Smith

A P Gent

REGISTERED OFFICE:

The Old Dryer

Hinton Business Park

Tarrant Hinton

Blandford Forum

Dorset

DT11 8JF

REGISTERED NUMBER:

05132924 (England and Wales)

ACCOUNTANTS:

KingsBere Accountants Limited

The Old Dryer

Hinton Business Park

Tarrant Hinton

Blandford Forum

Dorset

DT11 8JF

FIXED ASSETS

Tangible assets

3

1,069

1,425

CURRENT ASSETS

Stocks

419,920

323,309

Debtors

4

1,554

9,084

Cash at bank

3,770

9,681

425,244

342,074

CREDITORS

Amounts falling due within one year

5

192,967

104,497

NET CURRENT ASSETS

232,277

237,577

TOTAL ASSETS LESS CURRENT LIABILITIES

233,346

239,002

CREDITORS

Amounts falling due after more than one year

6

250,000

250,000

NET LIABILITIES

(16,654

)

(10,998

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

(16,656

)

(11,000

)

SHAREHOLDERS' FUNDS

(16,654

)

(10,998

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 by the Board of Directors on 14 February 2019 and were signed on its behalf by:

S F Smith - Director

A P Gent - Director

1.	STATUTORY INFORMATION

Development Contracting 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.

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.

Plant and machinery

-

25% on reducing balance

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 June 2017

and 31 May 2018

1,900

DEPRECIATION

At 1 June 2017

475

Charge for year

356

At 31 May 2018

831

NET BOOK VALUE

At 31 May 2018

1,069

At 31 May 2017

1,425

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Other debtors

1,554

9,084

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade creditors

-

4,813

Other creditors

192,967

99,684

192,967

104,497

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Other creditors

250,000

250,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

1

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 June 2017

(11,000

)

Deficit for the year

(5,656

)

At 31 May 2018

(16,656

)

9.	GOING CONCERN

10.

CONTROL

The Company is under the control of the Directors who between them own 100% of the

issued share capital.