DCFM (Quotas) Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03667782 (England and Wales)

DCFM (QUOTAS) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

2

-

-

Tangible assets

3

273,232

277,292

Investments

4

-

1

Investment property

5

780,892

780,892

1,054,124

1,058,185

CURRENT ASSETS

Work-in-progress

11,140

19,168

Debtors

39,643

32,639

Cash at bank and in hand

27,334

3,568

78,117

55,375

CREDITORS

Amounts falling due within one year

6

129,615

90,909

NET CURRENT LIABILITIES

(51,498

)

(35,534

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,002,626

1,022,651

CREDITORS

Amounts falling due after more than one year

6

(398,034

)

(422,935

)

PROVISIONS FOR LIABILITIES

(5,024

)

(5,409

)

NET ASSETS

599,568

594,307

CAPITAL AND RESERVES

Called up share capital

7

1,000

1,000

Investment revaluation reserve

171,066

171,066

Profit and loss account

427,502

422,241

SHAREHOLDERS' FUNDS

599,568

594,307

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 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 Board of Directors on 10 July 2014 and were signed on its behalf by:

D C R Clark - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Preparation of consolidated financial statements

The financial statements contain information about DCFM (Quotas) Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

market value is transferred to a revaluation reserve.

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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

15,000

AMORTISATION

At 1 May 2013

and 30 April 2014

15,000

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

316,869

Additions

6,815

At 30 April 2014

323,684

DEPRECIATION

At 1 May 2013

39,577

Charge for year

10,875

At 30 April 2014

50,452

NET BOOK VALUE

At 30 April 2014

273,232

At 30 April 2013

277,292

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

1

Disposals

(1

)

At 30 April 2014

-

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

1

The company's investments at the balance sheet date in the share capital of companies include the following:

DCFM Telecom Limited

Nature of business: Telephony service provision

%

Class of shares:

holding

Ordinary

100.00

2014

2013

£

£

Aggregate capital and reserves

-

16

Profit for the year

-

3,086

DCFM Telecom Limited was dissolved 29th October 2013.

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 May 2013

and 30 April 2014

780,892

NET BOOK VALUE

At 30 April 2014

780,892

At 30 April 2013

780,892

6.

CREDITORS

Creditors include an amount of £ 423,781 (2013 - £ 448,010 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

310,575

332,346

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000