DWSM Limited - Period Ending 2014-06-30

Registration number: 06040316

DWSM Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

DWSM Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

DWSM Limited
(Registration number: 06040316)
Abbreviated Balance Sheet at 30 June 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					735,082			237,605
Investments					1,111,050			1,111,050
					1,846,132			1,348,655
Current assets
Cash at bank and in hand					6,055			6,054
Creditors: Amounts falling due within one year					(544,287)			(327,044)
Net current liabilities					(538,232)			(320,990)
Total assets less current liabilities					1,307,900			1,027,665
Creditors: Amounts falling due after more than one year					(1,253,388)			(981,537)
Net assets					54,512			46,128
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					54,412			46,028
Shareholders' funds					54,512			46,128

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 March 2015 and signed on its behalf by:

.........................................
S Mico
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

DWSM Limited
(Registration number: 06040316)
Abbreviated Balance Sheet at 30 June 2014
......... continued

.........................................
D J Webster
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

DWSM Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line
Fixtures and fittings	20/33.33% straight line

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

DWSM Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 July 2013		239,854			1,111,050			1,350,904
Additions		498,810			-			498,810
At 30 June 2014		738,664			1,111,050			1,849,714
Depreciation
At 1 July 2013		2,249			-			2,249
Charge for the year		1,333			-			1,333
At 30 June 2014		3,582			-			3,582
Net book value
At 30 June 2014		735,082			1,111,050			1,846,132
At 30 June 2013		237,605			1,111,050			1,348,655

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Midland Communications Company Limited		Ordinary shares	86%	Rental, sale and installation of communication systems

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		254,534			179,003
Amounts falling due after more than one year		427,768			128,718
Total secured creditors		682,302			307,721

Included in the creditors are the following amounts due after more than five years:

Page 4

DWSM Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

		2014 £			2013 £
After more than five years by instalments		266,389			88,743

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

5

Control

The company is under the joint of Mr and Mrs S Mico and Mr and Mrs D Webster who own 50% of the share capital of the company respectively .

Page 5