Direct Source 2 Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07752171 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 August 2014

for

Direct Source 2 Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

J R Basani

REGISTERED OFFICE:

Unit 5 Crauford Business Park

Silverdale Road

Hayes

Middlesex

UB3 3BN

REGISTERED NUMBER:

07752171 (England and Wales)

ACCOUNTANTS:

Holberton and Co

Nortonbury House

37 High Street

Tewkesbury

Gloucestershire

GL20 5BB

FIXED ASSETS

Tangible assets

2

86,897

89,426

CURRENT ASSETS

Stocks

115,000

130,000

Debtors

13,418

5,681

Cash at bank and in hand

5,247

133,270

133,665

268,951

CREDITORS

Amounts falling due within one year

186,576

347,908

NET CURRENT LIABILITIES

(52,911

)

(78,957

)

TOTAL ASSETS LESS CURRENT LIABILITIES

33,986

10,469

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

33,886

10,369

SHAREHOLDERS' FUNDS

33,986

10,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 February 2015 and were signed by:

J R Basani - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

89,426

Additions

17,657

At 31 August 2014

107,083

DEPRECIATION

Charge for year

20,186

At 31 August 2014

20,186

NET BOOK VALUE

At 31 August 2014

86,897

At 31 August 2013

89,426

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.14

31.8.13

value:

£

£

100

Ordinary

£1

100

100