DAQS Air Conditioning Systems Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05918672 (England and Wales)

Financial Statements

for the Year Ended 31 August 2019

for

DAQS Air Conditioning Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S C Boley

Mrs S J Redwood

REGISTERED OFFICE:

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

REGISTERED NUMBER:

05918672 (England and Wales)

ACCOUNTANTS:

Mander Duffill

Chartered Accountants

The Old Post Office

41-43 Market Place

Chippenham

Wiltshire

SN15 3HR

FIXED ASSETS

Tangible assets

4

8,200

15,881

CURRENT ASSETS

Stocks

81,435

104,887

Debtors

5

744,478

532,505

Cash at bank

119,956

9,114

945,869

646,506

CREDITORS

Amounts falling due within one year

6

573,195

515,730

NET CURRENT ASSETS

372,674

130,776

TOTAL ASSETS LESS CURRENT LIABILITIES

380,874

146,657

CREDITORS

Amounts falling due after more than one year

7

-

(2,798

)

PROVISIONS FOR LIABILITIES

-

(679

)

NET ASSETS

380,874

143,180

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

379,874

142,180

SHAREHOLDERS' FUNDS

380,874

143,180

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 applicable to companies subject to the small companies regime.

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 25 November 2019 and were signed on its behalf by:

S C Boley - Director

Mrs S J Redwood - Director

1.	STATUTORY INFORMATION

DAQS Air Conditioning Systems Ltd 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.

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

-

25% on cost

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.

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.

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 7 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

69,718

Additions

913

At 31 August 2019

70,631

DEPRECIATION

At 1 September 2018

53,837

Charge for year

8,594

At 31 August 2019

62,431

NET BOOK VALUE

At 31 August 2019

8,200

At 31 August 2018

15,881

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

723,271

479,790

Other debtors

21,207

52,715

744,478

532,505

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade creditors

285,657

271,206

Other creditors

287,538

244,524

573,195

515,730

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Other creditors

-

2,798

8.	ULTIMATE CONTROLLING PARTY

The controlling party is SBSR Holdings Limited.