Danbury Fencing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01026199 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2018

FOR

DANBURY FENCING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P F Hammersley

R D Poole

Mrs S L Fothergill

G Thomas

B J Hammersley

Mrs L J Young

REGISTERED OFFICE:

Olivers Farm

Maldon Road

Witham

Essex

CM8 3HY

REGISTERED NUMBER:

01026199 (England and Wales)

ACCOUNTANTS:

CBHC Limited

Suite 3, The Hamilton Centre

Rodney Way

Chelmsford

Essex

CM1 3BY

FIXED ASSETS

Tangible assets

4

78,920

61,100

CURRENT ASSETS

Stocks

240,954

251,308

Debtors

5

130,248

137,997

Cash at bank and in hand

11,096

14,259

382,298

403,564

CREDITORS

Amounts falling due within one year

6

(204,962

)

(230,346

)

NET CURRENT ASSETS

177,336

173,218

TOTAL ASSETS LESS CURRENT LIABILITIES

256,256

234,318

CREDITORS

Amounts falling due after more than one year

7

(13,800

)

(7,000

)

PROVISIONS FOR LIABILITIES

(1,222

)

(1,222

)

NET ASSETS

241,234

226,096

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Revaluation reserve

8

70,464

70,464

Retained earnings

120,770

105,632

SHAREHOLDERS' FUNDS

241,234

226,096

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 26th March 2019 and were signed on its behalf by:

Mrs S L Fothergill - Director

P F Hammersley - Director

1.	STATUTORY INFORMATION

Danbury Fencing 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 as modified by the revaluation of certain assets.

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 etc

-

20% on cost and 10% 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1st January 2018

335,938

Add'ns - property improvments

23,000

Disposals

(69,066

)

At 31st December 2018

289,872

DEPRECIATION

At 1st January 2018

274,838

Charge for year

25,579

Eliminated on disposal

(89,465

)

At 31st December 2018

210,952

NET BOOK VALUE

At 31st December 2018

78,920

At 31st December 2017

61,100

Cost or valuation at 31st December 2018 is represented by:

Plant and

machinery

etc

£

Valuation in 2004

5,462

Valuation in 2010

17,330

Valuation in 2011

4,914

Valuation in 2015

12,844

Valuation in 2017

25,000

Cost

224,322

289,872

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

113,559

117,425

Other debtors

16,689

20,572

130,248

137,997

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

30,594

Hire purchase contracts

4,140

-

Trade creditors

157,687

126,432

Taxation and social security

29,055

32,976

Other creditors

14,080

40,344

204,962

230,346

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

13,800

-

Other creditors

-

7,000

13,800

7,000

8.

RESERVES

Revaluation

reserve

£

At 1st January 2018

and 31st December 2018

70,464

9.	RELATED PARTY DISCLOSURES

The company was controlled by its directors and ultimately controlled by its shareholders throughout

the year.

During the year dividends of £2,000 (2017: £5,235) were paid to L Young and £2,000 (2017: £5,235)

to S Fothergill.

During the year the following related party transactions took place:

-Rent of £12,140 (2017: £26,608) was paid to Ludgores Timber Importers Limited, a company of

which P.F. Hammersley and S.L. Fothergill are directors.

-Management and service charges of £9,168 (2017: £13,581) were paid to Huntnews Limited, a

company of which P.F. Hammersley is a director.

-Management and service charges of £10,747 (2017: £25,500) were made to Clottergate Associates

Limited, a company of which S.L Fothergill and P.F Hammersley are also directors.

-Purchases of timber totalling £6,186 (2017: £5,833) were made from Ludgores Timber Limited.