Direct Chemical Solutions Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07897021 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2014

FOR

DIRECT CHEMICAL SOLUTIONS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G A Warriner

REGISTERED OFFICE:

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

REGISTERED NUMBER:

07897021 (England and Wales)

ACCOUNTANTS:

John Williams and Co

Chartered Accountants

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Intangible assets

2

8,000

-

Tangible assets

3

32,326

29,623

40,326

29,623

CURRENT ASSETS

Stocks

70,204

41,588

Debtors

193,506

193,299

Cash in hand

2,088

1,005

265,798

235,892

CREDITORS

Amounts falling due within one year

265,812

232,833

NET CURRENT (LIABILITIES)/ASSETS

(14

)

3,059

TOTAL ASSETS LESS CURRENT LIABILITIES

40,312

32,682

PROVISIONS FOR LIABILITIES

6,465

5,925

NET ASSETS

33,847

26,757

CAPITAL AND RESERVES

Called up share capital

4

2

1

Profit and loss account

33,845

26,756

SHAREHOLDERS' FUNDS

33,847

26,757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 May 2015 and were signed by:

G A Warriner - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of three years.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

12,000

At 31 October 2014

12,000

AMORTISATION

Amortisation for year

4,000

At 31 October 2014

4,000

NET BOOK VALUE

At 31 October 2014

8,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

36,881

Additions

10,451

Disposals

(540

)

At 31 October 2014

46,792

DEPRECIATION

At 1 November 2013

7,258

Charge for year

7,289

Eliminated on disposal

(81

)

At 31 October 2014

14,466

NET BOOK VALUE

At 31 October 2014

32,326

At 31 October 2013

29,623

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary A

£1

1

-

2

1

1 Ordinary A share of £1 was allotted and fully paid for cash at par during the year.

5.	ULTIMATE PARENT COMPANY