L Darby & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00568684 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

L.DARBY & SON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C D Horton

REGISTERED OFFICE:

Torrington Avenue

Coventry

West Midlands

CV4 9SX

REGISTERED NUMBER:

00568684 (England and Wales)

FIXED ASSETS

Tangible assets

4

341,463

344,385

CURRENT ASSETS

Stock and work in progress

52,189

51,307

Debtors

441,474

407,535

Cash at bank and in hand

474,510

414,333

968,173

873,175

CREDITORS

Amounts falling due within one year

555,278

590,851

NET CURRENT ASSETS

412,895

282,324

TOTAL ASSETS LESS CURRENT LIABILITIES

754,358

626,709

CREDITORS

Amounts falling due after more than one year

5

(159,720

)

(167,492

)

PROVISIONS FOR LIABILITIES

(8,469

)

(8,770

)

NET ASSETS

586,169

450,447

CAPITAL AND RESERVES

Called up share capital

800

800

Retained earnings

585,369

449,647

SHAREHOLDERS' FUNDS

586,169

450,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 March 2020 and were signed by:

C D Horton - Director

1.	STATUTORY INFORMATION

L.Darby & Son 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 principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover

Turnover represents net invoiced sales of goods and services, 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.

Plant and machinery

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Freehold property is stated at cost less depreciation in accordance with FRS 102. It is company policy to

maintain freehold property to a high standard with the cost of repairs and maintenance being charged to the

income statement. The residual value of the property is therefore expected not to be less than the original

purchase cost. No depreciation is therefore charged on freehold property.

Stocks

Stock 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2018

455,734

Additions

6,924

Disposals

(1,409

)

At 31 July 2019

461,249

DEPRECIATION

At 1 August 2018

111,349

Charge for year

8,809

Eliminated on disposal

(372

)

At 31 July 2019

119,786

NET BOOK VALUE

At 31 July 2019

341,463

At 31 July 2018

344,385

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2019

2018

£

£

Repayable by instalments

Bank loans - more than 5 years

119,720

119,492

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

169,720

179,492

The bank loan is a legal mortgage secured on the freehold property.

7.	PENSION COMMITMENTS

At the year end, outstanding pension contributions totalled £11,962 (2018: £11,620).