Accounts filed on 31-10-2014
Accounts filed on 31-10-2014
trueDynamic Storage (Property) Limited (formerly Dynamic Storage Limited)026369332014-10-31210009173116101923298233925090250907841337841331019232982339032827154627516111602565507262632631550715594412908058951344458774545744458747083202746252250000247038222500002470382Basis of accounting
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Cash flow statement
The financial statements do not include a cash flow statement because the company, as a small reporting entity is exempt from the requirements to prepare such a statement under the Financial Reporting Standard for Small Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed
assets at their fair value. The capital element of the future payments is treated as a liability and
the interest is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding.
Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding, and the capital element which reduces the outstanding obligation for future instalments.
Deferred taxation
Deferred tax is recognised in respect of timing differences that have originated but not reversed at
the balance sheet date where transactions or events have occurred at that date that will result in
an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the
periods in which timing differences reverse, based on tax rates and laws enacted or substantively
enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Land & Buildings are initially recorded at cost but the company has departed from the Companies Act requirement to depreciate buildings. The company have instead adopted a policy of revaluation as they deem it to be more appropriate given the expected long useful economic life of the asset.The company is of the opinion that this departure is necessary to show a true and fair view.Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.Plant & MachineryMethod for Plant & equipment0.0000Fixtures & FittingsMethod for Fixtures & fittings0.0000Motor VehiclesMethod for Motor vehicles0.00002250000284580884947-680755037542633980-4094062250000284580884947-6807550375426-4094063398015462751611160Ordinary A5000001500000500000Ordinary B1255112551255Ordinary A1238352383523835Ordinary B1125512551255Director's current accountsThe maximum overdrawn balance during the year £.Prior year adjustmentprior year adjustment
In the prior year a proportion of the long term loan was recognised within trade creditors. To correct, trade creditors have been reduced by £67,290,and long-term bank loans have been increased by £67,290 to £1,611,160; all of which is secured by the company.2015-02-12Mr S J Barratttruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureDynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2013-11-012014-10-31Dynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2012-11-012013-10-31Dynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2012-10-31Dynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2013-10-31Dynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2013-10-31Dynamic Storage (Property) Limited (formerly Dynamic Storage Limited)2014-10-31 2015-05-13
