D J Priestley Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09997181 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2019

for

D J PRIESTLEY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Priestley

Mrs S C Priestley

SECRETARY:

REGISTERED OFFICE:

Stag House

The Chipping

Wotton under Edge

Gloucestershire

GL12 7AD

REGISTERED NUMBER:

09997181 (England and Wales)

ACCOUNTANTS:

Wotton Accountancy Associates Limited

Stag House

The Chipping

Wotton under Edge

Gloucestershire

GL12 7AD

FIXED ASSETS

Intangible assets

4

7,000

8,000

Tangible assets

5

3,585

562

10,585

8,562

CURRENT ASSETS

Cash at bank

4,554

27,854

CREDITORS

Amounts falling due within one year

6

20,502

30,386

NET CURRENT LIABILITIES

(15,948

)

(2,532

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,363

)

6,030

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(5,373

)

6,020

SHAREHOLDERS' FUNDS

(5,363

)

6,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 29 November 2019 and were signed on its behalf by:

Mrs S C Priestley - Director

1.	STATUTORY INFORMATION

D J Priestley 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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 reducing balance

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 1 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2018

and 28 February 2019

10,000

AMORTISATION

At 1 March 2018

2,000

Charge for year

1,000

At 28 February 2019

3,000

NET BOOK VALUE

At 28 February 2019

7,000

At 28 February 2018

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2018

1,000

Additions

4,218

At 28 February 2019

5,218

DEPRECIATION

At 1 March 2018

438

Charge for year

1,195

At 28 February 2019

1,633

NET BOOK VALUE

At 28 February 2019

3,585

At 28 February 2018

562

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

953

-

Taxation and social security

74

3,529

Other creditors

19,475

26,857

20,502

30,386