DPRS Finance Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06549633 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2018

for

DPRS FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P J Medlock

D J Medlock

SECRETARY:

P Phipps

REGISTERED OFFICE:

St George's Lodge

33 Oldfield Road

Bath

Somerset

BA2 3NE

REGISTERED NUMBER:

06549633 (England and Wales)

ACCOUNTANTS:

Haines Watts

Bath House

6-8 Bath Street

Bristol

BS1 6HL

CURRENT ASSETS

Debtors

4

7,463,970

4,092,006

Cash at bank

1,035,890

17,912

8,499,860

4,109,918

CREDITORS

Amounts falling due within one year

5

7,383,033

3,425,620

NET CURRENT ASSETS

1,116,827

684,298

TOTAL ASSETS LESS CURRENT LIABILITIES

1,116,827

684,298

CAPITAL AND RESERVES

Called up share capital

6

3,000

3,000

Retained earnings

1,113,827

681,298

SHAREHOLDERS' FUNDS

1,116,827

684,298

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 18 July 2019 and were signed on its behalf by:

D J Medlock - Director

1.	STATUTORY INFORMATION

DPRS Finance 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" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company

has adequate resources to continue in operational existence for the foreseeable future. Thus the directors

continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services provided in the normal course of business, net of discounts, VAT and other sales related

taxes.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

7,358,244

4,092,006

Amounts falling due after more than one year:

Trade debtors

105,726

-

Aggregate amounts

7,463,970

4,092,006

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

7,014,652

3,215,264

Tax

101,457

91,255

Other creditors

266,924

119,101

7,383,033

3,425,620

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

3,000

Ordinary

£1.00

3,000

3,000

7.	CONTINGENT LIABILITIES

The company is party to an Omnibus Guarantee and Set-Off Agreement dated 20 November 2012 in favour of

the company's bankers covering all companies in the group headed by Hebron & Medlock Limited. At 31

October 2018 the potential liability was £nil (2017: £nil).