| D & S Sheet Metal Limited |
| Registered number: |
02734178 |
| Abbreviated Balance Sheet |
| as at 31 July 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
261,881 |
|
|
271,478 |
|
| Current assets |
| Stocks |
|
|
66,829 |
|
|
96,031 |
| Debtors |
|
|
341,476 |
|
|
341,817 |
| Cash at bank and in hand |
|
|
397,785 |
|
|
334,279 |
|
|
|
806,090 |
|
|
772,127 |
|
| Creditors: amounts falling due within one year |
|
|
(191,727) |
|
|
(259,262) |
|
| Net current assets |
|
|
|
614,363 |
|
|
512,865 |
|
| Total assets less current liabilities |
|
|
|
876,244 |
|
|
784,343 |
|
|
| Provisions for liabilities |
|
|
|
(11,972) |
|
|
(12,405) |
|
|
| Net assets |
|
|
|
864,272 |
|
|
771,938 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
120 |
|
|
120 |
| Profit and loss account |
|
|
|
864,152 |
|
|
771,818 |
|
| Shareholders' funds |
|
|
|
864,272 |
|
|
771,938 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| P R Davis |
| Director |
| Approved by the board on 28 April 2015 |
|
| D & S Sheet Metal Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 July 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Freehold land and buildings |
Nil |
|
Plant and machinery |
20% reducing balance and 10% straight line |
|
Motor vehicles |
33% straight line |
|
|
Freehold land and buildings |
|
|
The company maintains all freehold property to a consistently high standard. As a consequence the directors are of the opinion that the value of the property will be maintained at a level equal to or exceeding cost. In the circumstances it is considered that no deprecation provision will be required. |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 August 2013 |
75,000 |
|
At 31 July 2014 |
75,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 August 2013 |
75,000 |
|
At 31 July 2014 |
75,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2014 |
- |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 August 2013 |
540,213 |
|
Additions |
13,680 |
|
Disposals |
(13,627) |
|
At 31 July 2014 |
540,266 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 August 2013 |
268,735 |
|
Charge for the year |
23,276 |
|
On disposals |
(13,626) |
|
At 31 July 2014 |
278,385 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 July 2014 |
261,881 |
|
At 31 July 2013 |
271,478 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
- |
|
120 |
|
120 |
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
2014 |
|
2013 |
| £ |
£ |
|
P R Davis |
|
Director and majority shareholder |
|
Interest free directors loan with no fixed repayment date. |
|
Amount due to the related party |
152 |
|
152 |
|
|
The company occupies premises owned by the related party. The rent payable in respect of the use of these premises during the year was as follows. The transactions were carried out on a normal commercial basis. |
|
Rent payable |
40,000 |
|
40,000 |
|
Dividends paid during the year |
72,700 |
|
93,700 |
|
|
Mrs N J Mills |
|
Director and shareholder |
|
Interest free director's loan with no fixed repayment date. |
|
Amount due to the related party |
7,931 |
|
1,064 |
|
|
Dividends paid during the year |
45,500 |
|
32,500 |
|
|
D A Davis |
|
Shareholder |
|
Interest free loan with no fixed repayment date. |
|
Amount due to the related party |
349 |
|
923 |
|
|
Dividends paid during the year |
31,375 |
|
34,000 |
|
|
J K Van Egmond |
|
Director and shareholder |
|
|
Dividends paid during the year |
7,200 |
|
10,200 |
|
|
|
| 6 |
Ultimate controlling party |
|
|
The company is under the control of Mr P R Davis who is a director and the majority shareholder. |
