DCFM (Quotas) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03667782 (England and Wales)

DCFM (QUOTAS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D C R Clark

Mrs J S Clark

SECRETARY:

D C R Clark

REGISTERED OFFICE:

Newstead Farm

Station Road

Stixwould

Woodhall Spa

Lincolnshire

LN10 5HW

REGISTERED NUMBER:

03667782 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Boston)

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

274,407

267,031

Investment property

6

780,892

780,892

1,055,299

1,047,923

CURRENT ASSETS

Work-in-progress

82,955

75,110

Debtors

30,913

27,509

Cash at bank and in hand

1,184

6,142

115,052

108,761

CREDITORS

Amounts falling due within one year

109,627

83,912

NET CURRENT ASSETS

5,425

24,849

TOTAL ASSETS LESS CURRENT LIABILITIES

1,060,724

1,072,772

CREDITORS

Amounts falling due after more than one year

7

(431,414

)

(446,618

)

PROVISIONS FOR LIABILITIES

(40,826

)

(39,020

)

NET ASSETS

588,484

587,134

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Non distributable reserves

136,853

136,853

Retained earnings

450,631

449,281

SHAREHOLDERS' FUNDS

588,484

587,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 July 2019 and were signed on its behalf by:

D C R Clark - Director

1.	STATUTORY INFORMATION

DCFM (Quotas) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being an amount paid in connection with the acquisition of a business in 2002, has been fully

amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work-in-progress 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 work-in-progress 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

and 30 April 2019

15,000

AMORTISATION

At 1 May 2018

and 30 April 2019

15,000

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2018

362,097

Additions

20,876

At 30 April 2019

382,973

DEPRECIATION

At 1 May 2018

95,066

Charge for year

13,500

At 30 April 2019

108,566

NET BOOK VALUE

At 30 April 2019

274,407

At 30 April 2018

267,031

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

and 30 April 2019

780,892

NET BOOK VALUE

At 30 April 2019

780,892

At 30 April 2018

780,892

Fair value at 30 April 2019 is represented by:

£

Valuation in 2019

780,892

If investment property had not been revalued it would have been included at the following historical cost:

2019

2018

£

£

Cost

609,826

609,826

Investment property was valued on an open market basis on 30 April 2019 by the director .

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2019

2018

£

£

Repayable by instalments

Bank loans more 5 yr by instal

363,814

379,018

8.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

447,299

462,503