Deublin Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01088395 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

DEUBLIN LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R P Kelner

Mr E J Lerner

Mr D R Ralph

Mr W Trittin

REGISTERED OFFICE:

6 Sopwith Park

Royce Close

Andover

Hampshire

SP10 3TS

REGISTERED NUMBER:

01088395 (England and Wales)

AUDITORS:

Langdowns DFK Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

FIXED ASSETS

Tangible assets

4

40,805

33,288

CURRENT ASSETS

Stocks

53,304

66,983

Debtors

5

558,268

547,617

Cash at bank and in hand

476,578

358,977

1,088,150

973,577

CREDITORS

Amounts falling due within one year

6

373,101

404,652

NET CURRENT ASSETS

715,049

568,925

TOTAL ASSETS LESS CURRENT LIABILITIES

755,854

602,213

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

755,754

602,113

SHAREHOLDERS' FUNDS

755,854

602,213

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 25 March 2020 and were signed on its behalf by:

Mr D R Ralph - Director

1.	STATUTORY INFORMATION

Deublin Limited 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.

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical

accounting estimates. It also requires management to exercise judgement in applying the Company's

accounting policies.

The financial statements have been prepared on the going concern basis, as the directors believe that the

company is in a stable position even given the economic uncertainties of the current worldwide position of the

Coronavirus.

The company holds strong levels of cash & reserves and maintains strong leadership. There are also relatively

low fixed costs and the company has the ability to react to market conditions by varying pricing and if necessary,

reducing the fixed costs of the business to match the market.

The following accounting policies have been applied.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and

the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or

receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also

be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

1) the company has transferred the significant risks and rewards of ownership to the buyer;

2) the company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

3) the amount of revenue can be measured reliably;

4) it is probable that the company will receive the consideration due under the transaction; and

5) the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Short leasehold

-

Over the term of the lease

Plant and machinery

-

15% straight line

Fixtures and fittings

-

15% straight line

Motor vehicles

-

25% straight line

Computer equipment

-

25% straight line

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any

accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the

asset to the location and condition necessary for it to be capable of operating in the manner intended by

management.

At each reporting date the company assesses whether there is an indication of impairment. If such indication

exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell

and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable

amount.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there ia an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are

recognised in the Statement of income and retained earnings.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to

complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and

finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced

to its selling price less costs to complete and sell. The impairment loss is recognised immediately on profit or

loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Foreign currencies

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the

dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items

measured at historical cost are translated using the exchange rate at the date of the transaction and

non-monetary items measured at fair value are measured using the exchange rate when fair value was

determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at

period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised

in the Statement of income and retained earnings except when deferred in other comprehensive income as

qualifying cash flow hedges.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight

line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line

basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's

benefit from the use of the leased asset.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows

lease incentives on leases entered into before the date of transition to the standard on 1 January 2015 to

continue to be charged over the period to the first market rent review rather than over the term of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension

plan under which the company pays fixed contributions into a separate entity. Once the contributions have been

paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall

due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of

the plan are held separately from the company in independently administered funds.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2019

50,302

82,223

31,183

At 31 December 2019

50,302

82,223

31,183

DEPRECIATION

At 1 January 2019

50,302

80,027

29,085

Charge for year

-

941

908

At 31 December 2019

50,302

80,968

29,993

NET BOOK VALUE

At 31 December 2019

-

1,255

1,190

At 31 December 2018

-

2,196

2,098

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2019

55,290

106,148

325,146

Additions

27,630

4,224

31,854

At 31 December 2019

82,920

110,372

357,000

DEPRECIATION

At 1 January 2019

29,177

103,267

291,858

Charge for year

20,154

2,334

24,337

At 31 December 2019

49,331

105,601

316,195

NET BOOK VALUE

At 31 December 2019

33,589

4,771

40,805

At 31 December 2018

26,113

2,881

33,288

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

468,009

371,025

Amounts owed by group undertakings

79,735

152,485

Other debtors

10,524

24,107

558,268

547,617

Included within other debtors is £3,609 in respect of prepayments and accrued income (2018: £17,020).

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

22,732

14,979

Amounts owed to group undertakings

72,226

124,627

Taxation and social security

159,535

142,484

Other creditors

118,608

122,562

373,101

404,652

Included in other creditors is £63,385 in respect of accruals and deferred income (2018: £70,291).

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1.00

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Raynsford (Senior Statutory Auditor)

for and on behalf of Langdowns DFK Limited

9.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet

amount to £168,690 (2018: £187,667). This amount is in relation to operating lease commitments which are

payable over the next one to six years (2018: one to seven years).

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section

1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with group companies where any subsidiary that is party to the transaction is wholly owned within

the group or where transactions have been undertaken under normal market conditions.