Dougherty & Allen Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08443902 (England and Wales)

DOUGHERTY & ALLEN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

P Dougherty

G R Wigginton

REGISTERED OFFICE:

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

REGISTERED NUMBER:

08443902 (England and Wales)

ACCOUNTANTS:

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

FIXED ASSETS

Tangible assets

4

77,104

125,814

CURRENT ASSETS

Stocks

27,814

27,914

Debtors

5

78,643

148,580

Cash at bank and in hand

7,924

37,831

114,381

214,325

CREDITORS

Amounts falling due within one year

6

(221,529

)

(567,834

)

NET CURRENT LIABILITIES

(107,148

)

(353,509

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,044

)

(227,695

)

CREDITORS

Amounts falling due after more than one year

7

(6,239

)

(14,809

)

PROVISIONS FOR LIABILITIES

(14,640

)

(23,900

)

NET LIABILITIES

(50,923

)

(266,404

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(51,023

)

(266,504

)

(50,923

)

(266,404

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 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 and authorised for issue on 24 July 2020 and were signed on its behalf by:

P Dougherty - Director

G R Wigginton - Director

1.	STATUTORY INFORMATION

Dougherty & Allen 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.

During 2020 the directors have reviewed the profitability of contracts and made adjustments within the business to

cancel those which are loss making. With the anticipated cashflows following the Company Voluntary Arrangement

and with continued financial support from the Directors in the form of a share allotment since the year end, they

consider it appropriate for the financial statements to be prepared on a going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for sale of services in the ordinary

nature of the business and excludes value added tax. Revenue from services is recognised when the service is

provided and the revenue 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

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

Plant & machinery

33% on cost and 20% on cost

Fixtures & fittings

20% reducing balance

Motor Vehicles

Over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value.

Financial instruments

Financial instruments are classified by directors as basic or advanced following the conditions on FRS 102 Section 11.

Basic financial instruments are initially measured at transaction price (including transaction cost) and subsequently

recognised at amortised cost using the effective interest method. The company does not have any advanced

financial instruments.

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 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.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, where substantially all the risks and rewards of

ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over the

shorter of the lease term and their useful lives. The corresponding lease or hire purchase obligation is treated in the

balance sheet as a liability.

The finance element of the rental obligations is charged to the profit and loss account over the period of the lease

and represents a constant proportion of the balance of capital repayments outstanding.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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.

Investments

Fixed asset investments are stated at cost less provisions for impairments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 (2019 - 48 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

407,081

Additions

13,437

Disposals

(136,016

)

At 31 March 2020

284,502

DEPRECIATION

At 1 April 2019

281,267

Charge for year

30,720

Eliminated on disposal

(104,589

)

At 31 March 2020

207,398

NET BOOK VALUE

At 31 March 2020

77,104

At 31 March 2019

125,814

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2019

105,927

Disposals

(70,071

)

Transfer to ownership

(35,856

)

At 31 March 2020

-

DEPRECIATION

At 1 April 2019

53,215

Charge for year

9,966

Eliminated on disposal

(39,276

)

Transfer to ownership

(23,905

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

52,712

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

62,000

145,839

Other debtors

16,643

2,741

78,643

148,580

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

-

7,887

Trade creditors

40,343

263,385

Taxation and social security

48,956

165,035

Other creditors

132,230

131,527

221,529

567,834

Included within creditors falling due within than one year, are amounts due under the terms agreed within a

Company Voluntary Arrangement entered into at 20 May 2020, disclosed as:

£

Trade creditors

40,343

Social security and other tax

48,436

These amounts are payable over 12 months, representing a rate of 28.3p/£ of the original creditor.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts (see note 8)

-

1,433

Other creditors

6,239

13,376

6,239

14,809

Included within other creditors, falling due in more than one year, is a loan from Carlsberg UK Limited with a term of

three years effective March 2017 and subject to interest at a rate of 12% above the Bank of England base rate.

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2020

2019

£

£

Net obligations repayable:

Within one year

-

7,887

Between one and five years

-

1,433

-

9,320

Non-cancellable operating

leases

2020

2019

£

£

Within one year

23,976

26,104

Between one and five years

66,545

77,220

In more than five years

3,325

16,625

93,846

119,949

9.	POST BALANCE SHEET EVENTS

Since the balance sheet date, there has been an issue of 79,900 shares in the company with a nominal value of £1,

allotted in the following classes:

Allotted shares

Ordinary A

39,150

Ordinary B

11,585

Ordinary C

11,585

Ordinary D

3,995

Ordinary E

3,995

Ordinary F

7,990

Ordinary G

1,600

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors

are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Dougherty & Allen Limited for the year ended 31 March 2020 which comprise the Statement of Income and

Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Dougherty & Allen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dougherty & Allen Limited and state those matters that we have agreed to state to the Board of Directors of Dougherty & Allen Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dougherty & Allen Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Dougherty & Allen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dougherty & Allen Limited. You consider that Dougherty & Allen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Dougherty & Allen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights

against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this

report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.

Bessler Hendrie LLP

Chartered Accountants

Ashbourne House

The Guildway

Old Portsmouth Road

Guildford

Surrey

GU3 1LR

24 July 2020