Accounts filed on 31-07-2014

DOWDING & PLUMMER LIMITED - Company Information

2013-08-012014-07-31407289falsetruehttp://www.companieshouse.gov.uk/pt:PlantMachinery2013-07-31http://www.companieshouse.gov.uk/cd:Director12013-08-012014-07-31http://www.companieshouse.gov.uk/pt:PlantMachinery2014-07-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2013-07-31http://www.companieshouse.gov.uk/pt:LandBuildings2013-08-012014-07-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2014-07-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-07-31http://www.companieshouse.gov.uk/pt:FixturesFittings2014-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-08-012014-07-31http://www.companieshouse.gov.uk/pt:SharesFixedAssetInvestmentspt:GroupUndertakingsOtherParticipatingInterests2013-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2014-07-31http://www.companieshouse.gov.uk/pt:PatentsConcessionsLicencesTradeMarksSimilar2013-07-31http://www.companieshouse.gov.uk/pt:PlantMachinery2013-08-012014-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22013-08-012014-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12014-07-31http://www.companieshouse.gov.uk/pt:SharesFixedAssetInvestmentspt:GroupUndertakingsOtherParticipatingInterests2014-07-31http://www.companieshouse.gov.uk/pt:PatentsConcessionsLicencesTradeMarksSimilar2014-07-31http://www.companieshouse.gov.uk/pt:CommercialMotorVehicles2013-08-012014-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22014-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12013-07-31http://www.companieshouse.gov.uk/pt:FixturesFittings2013-08-012014-07-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22013-07-31http://www.companieshouse.gov.uk/pt:DevelopmentCosts2013-08-012014-07-31http://www.companieshouse.gov.uk/pt:ToolsEquipment2013-08-012014-07-31http://www.companieshouse.gov.uk/pt:PatentsConcessionsLicencesTradeMarksSimilar2013-08-012014-07-31http://www.companieshouse.gov.uk/2012-08-012013-07-31http://www.companieshouse.gov.uk/2013-08-012014-07-31http://www.companieshouse.gov.uk/2013-07-31http://www.companieshouse.gov.uk/2014-07-31http://www.companieshouse.gov.uk/pt:LandBuildings2013-07-31http://www.companieshouse.gov.uk/cd:EntityAccountantsOrAuditors2013-08-012014-07-31http://www.companieshouse.gov.uk/pt:LandBuildings2014-07-31http://www.companieshouse.gov.uk/2013-07-31iso4217:GBPxbrli:sharesxbrli:pure


Registered number: 407289






Dowding and Plummer Limited


ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31/07/2014
























Prepared By:
R.J.Taylor & Co
Chartered Accountants
Unit A2 Imex Business Park
Flaxley Road
Stechford
Birmingham
B33 9AL


Dowding and Plummer Limited


ABBREVIATED ACCOUNTS


FOR THE YEAR ENDED 31/07/2014

















INDEX TO THE ACCOUNTS




Abbreviated Balance Sheet		2

Notes to the Abbreviated Accounts		4



The company's registered number is 407289


Registered Number: 407289

BALANCE SHEET AT 31/07/2014

			2014		2013
	Notes		£		£

FIXED ASSETS
Intangible assets	2		11,547		6,322
Tangible assets	3		997,931		1,019,184
Investments	4		4,879		4,881

			1,014,357		1,030,387

CURRENT ASSETS
Stock		470,494		552,186
Debtors (amounts falling due within one year)	5	721,053		673,355
Cash at bank and in hand		1,668		61,907
		1,193,215		1,287,448
CREDITORS: Amounts falling due within one year		822,569		606,331
NET CURRENT ASSETS			370,646		681,117
TOTAL ASSETS LESS CURRENT LIABILITIES			1,385,003		1,711,504


PROVISIONS FOR LIABILITIES			1,172,475		948,075

NET ASSETS			212,528		763,429

CAPITAL AND RESERVES

Called up share capital	6		87,673		95,968
Revaluation reserve	1k,7		639,866		639,866
Capital redemption reserve			100,327		92,032
Profit and loss account			(615,338)		(64,437)
SHAREHOLDERS' FUNDS			212,528		763,429


Registered Number: 407289

For the year ending 31/07/2014 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 10/04/2015 and signed on their behalf by




B.G. Dowding
Director


NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2014

1. ACCOUNTING POLICIES




1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).




1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective April 2008).




1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Land And Buildings		straight line 2%
Plant and Machinery		reducing balance 25%
Commercial Vehicles		reducing balance 33%
Fixtures and Fittings		reducing balance 25%
Equipment		reducing balance 20/33%




1d. Intangible Assets
Patents are valued at cost less amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of twenty years.




1e. Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.




1f. Taxation
Corporation tax payable is provided on taxable profits at the current rates.
Provision is made for deferred taxation in so far as a liability or asset has arisen as a result of transactions that had occurred by the balance sheet date and have given rise to an obligation to pay more tax in the future, or the right to pay less tax in the future. An asset has not been recognised to the extent that the transfer of economic benefits in the future is uncertain. Deferred tax assets and liabilities recognised have not been discounted.




1g. Pension Costs
The company previously operated a defined benefit pension scheme for a number of its' employees.The assets of the scheme are held separately from those of the company.
Pension scheme liabilities are measured on an actuarial basis using the defined accrued benefit method.Pension scheme assets are valued at market value at the balance sheet date.
At the date of the last valuation on 1st July 2010, the actuarial valuation of the assets was £4,048,000 excluding money purchase AVC's, being 75% of the value of the benefits accrued to members. The company also operates a defined contribution scheme and the financial statements show the contributions payable by the company during the year.




1h. Foreign Currency
Transactions in foreign currency are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the exchange rate ruling at that date. Foreign exchange gains and losses are recognised in the income statement. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction.




1i. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.




1j. Investments
Fixed asset investments are shown at cost less amounts written off.
Provisions are made for permanent fluctuations in value.




1k. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 7).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.




1l. Group Accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.




2. INTANGIBLE FIXED ASSETS


	Patents	Total
	£	£
Cost
At 01/08/2013	6,833	6,833
Additions	5,860	5,860
At 31/07/2014	12,693	12,693
Depreciation
At 01/08/2013	511	511
For the year	635	635
At 31/07/2014	1,146	1,146
Net Book Amounts
At 31/07/2014	11,547	11,547
At 31/07/2013	6,322	6,322




3. TANGIBLE FIXED ASSETS

	Land & Buildings	Plant & Machinery	Vehicles	Fixtures & Fittings	Equipment
						Total
	£	£	£	£	£	£
Cost
At 01/08/2013	988,320	1,065,458	26,170	92,513	133,753	2,306,214
Additions	-	2,136	3,406	4,340	-	9,882
Disposals	-	(269,599)	-	(1,806)	(1,882)	(273,287)
At 31/07/2014	988,320	797,995	29,576	95,047	131,871	2,042,809
Depreciation
At 01/08/2013	28,907	1,039,686	14,332	83,037	121,068	1,287,030
Disposals	-	(267,892)	-	(1,798)	(1,487)	(271,177)
For the year	11,236	6,546	4,252	3,453	3,538	29,025
At 31/07/2014	40,143	778,340	18,584	84,692	123,119	1,044,878
Net Book Amounts
At 31/07/2014	948,177	19,655	10,992	10,355	8,752	997,931
At 31/07/2013	959,413	25,772	11,838	9,476	12,685	1,019,184




4. INVESTMENT FIXED ASSETS

	Shares in group companies
	and participating interests	Total
	£	£
Cost
At 01/08/2013	4,881	4,881
Disposals	(2)	(2)
At 31/07/2014	4,879	4,879
Amortisation
Net Book Amounts
At 31/07/2014	4,879	4,879
At 31/07/2013	4,881	4,881




5. DEBTORS	2014	2013
	£	£

Amounts falling due within one year:
Trade debtors	655,770	624,749
Other debtors	65,283	48,606
	721,053	673,355




6. SHARE CAPITAL	2014	2013
	£	£
Allotted, issued and fully paid:
9,173 Ordinary shares of £1 each	9,173	9,173
78,500 Deferred Preference shares of £1 each	78,500	86,795
	87,673	95,968


During the year £8,295 deferred preference shares were cancelled.




7. REVALUATION RESERVE	2014	2013
	£	£
Revaluation reserve	639,866	639,866
	639,866	639,866




8. RELATED PARTY TRANSACTIONS
Sales to Victor France SARL £183,188 (2013- £77,487)
Debtor at year end Victor France SARL £57,536 (2013- £50,126)




9. FIXED ASSET INVESTMENTS



	Shares in Group Companies	Total
	£	£
Cost:
At 01/08/2013	4,881	4,881
Disposals	(2)	(2)
	__________	__________
At 31/07/2014	4,879	4,879
	__________	__________
Net book amounts:
At 31/07/2014	4,879	4,879
	__________	__________
At 31/07/2013	4,881	4,881
	__________	__________




10. PENSIONS AND OTHER POST-RETIREMENT BENEFITS
The company operates a group personal pension plan for the majority of it's employees. Contributions payable for the year were £28,892 (2013 - £42,952)
The company also has a closed pension scheme providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the company. The company contributions to the scheme for the year were £50,400 (2013 - £67,200)
The main assumptions used by the actuary were:
	2014	2013
	%	%

Rate of increase in pensions in payment	2.5	2.3
Discount rate	4.3	4.5
Inflation assumption	3.2	3.0


The fair value of the scheme assets and the expected rate of return, the present value of scheme liabilities and the resulting deficit are :

	2014	2013
	£	£

Total market value of assets	4,332,000	4,387,000
Present value of scheme liabilities	(5,497,000)	(5,326,000)
	____________	____________
Net pension liability	(1,165,000)	(939,000)
	____________	____________

An analysis of the movements in the deficit during the year are shown below:

	2014	2013
	£	£

Deficit brought forward	(939,000)	(1,843,000)
Total finance cost	(29,000)	(69,000)
Actuarial (loss)/gain	(247,000)	906,000
Contributions	50,000	67,000
	____________	____________
Deficit carried forward	1,165,000	(939,000)
	____________	____________




11. ANALYSIS OF THE AMOUNT CHARGED TO OPERATING LOSS



	2014	2013
	£	£

Actual return less expected return on pension scheme assets	3,000	645,000
Experience losses arising on the scheme liabilities	(2,000)	0
(Losses)/gains arising from changes in assumptions underlying the present value of the scheme liabilities	(198,000)	328,000
	__________	________
	(197,000)	973,000
	__________	________




12. FINANCIAL COMMITMENTS
At 31 July 2014 the company had annual commitments under non-cancellable operating leases as follows:


	2014	2013
	£	£
Expiry Date:
Within one year	69,549	83,299
Between one and five years	47,328	118,977
After five year	216	0
	____________	____________
	117,093	202,276




13. CONTINGENT LIABILITIES
A guarantee to HMRC in respect of duty deferment amounting to £10,000.




14. CAPITAL AND RESERVES OF SUBSIDIARY UNDERTAKINGS
The aggregate amount of capital and reserves and the results of the subsidiaries for the last relevant financial year were as follows:


	Capital and reserves	Loss for the year
	£	£

Victor France SARL	44,919	(71,613)
Green River Technologies Limited	1	0




15. HOLDINGS OF 20% OR MORE
The company holds 20% or more of the share capital of the following companies:


Company	Country of registration or incorporation	Nature of business	Class of shares held	Proportion of shares held

Subsidiary undertaking:
Victor France SARL	France	Distributors	Ordinary	100%
Green River Technologies Limited	England	Dormant	Ordinary	100%




16. LAND AND BUILDINGS HISTORICAL COST
Tangible fixed assets includes land and buildings at valuation , the historical cost is:


	2014	2013
	£	£

Cost	761,386	761,386
Depreciation	458,679	443,420
	____________	___________
	302,707	317,966
	____________	___________




17. FIXED ASSETS HELD UNDER FINANCE LEASES OR HIRE PURCHASE CONTRACTS



	2014	2014	2013	2013
	Net Book Value	Depreciation	Net Book Value	Depreciation
	£	£	£	£

Motor Vehicles	0	0	9,022	4,509
	____________	____________	____________	____________