Company Registration No. 08443902 (England and Wales)
Dougherty & Allen Limited
Unaudited accounts
for the year ended 31 March 2021
Dougherty & Allen Limited
Unaudited accounts
Contents
Dougherty & Allen Limited
Company Information
for the year ended 31 March 2021
Directors
Gordon Wigginton
Phillip Dougherty
Company Number
08443902 (England and Wales)
Registered Office
8 The Borders
River Lane
Chester
Flintshire
CH4 8RJ
Wales
Accountants
Aspire Accounting & Financial Management Ltd
40 CHESTER ROAD
HESWALL
WIRRAL
CH60 3SB
Dougherty & Allen Limited
Statement of financial position
as at 31 March 2021
Tangible assets
59,138
77,104
Cash at bank and in hand
79,675
7,941
Creditors: amounts falling due within one year
(175,145)
(224,807)
Net current liabilities
(6,653)
(113,388)
Total assets less current liabilities
52,485
(36,284)
Provisions for liabilities
Deferred tax
(14,640)
(14,640)
Net assets/(liabilities)
37,845
(50,924)
Called up share capital
80,000
100
Profit and loss account
(42,155)
(51,024)
Shareholders' funds
37,845
(50,924)
For the year ending 31 March 2021 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2021 and were signed on its behalf by
Phillip Dougherty
Director
Company Registration No. 08443902
Dougherty & Allen Limited
Notes to the Accounts
for the year ended 31 March 2021
Dougherty & Allen Limited is a private company, limited by shares, registered in England and Wales, registration number 08443902. The registered office is 8 The Borders, River Lane, Chester, Flintshire, CH4 8RJ, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2021 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2019.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Dougherty & Allen Limited
Notes to the Accounts
for the year ended 31 March 2021
Dougherty & Allen Limited
Notes to the Accounts
for the year ended 31 March 2021
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 2021 the business has had very limited trading due to the restrictions imposed by way of social distancing due to the Covid-19 pandemic.
The business has entered into a Voluntary Arrangement with its creditors during this financial year. With the anticipated cash flows and with continued financial support from the Directors in the form of a share allotment during the year , 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.
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
Investments
Fixed asset investments are stated at cost less provisions for impairments
Dougherty & Allen Limited
Notes to the Accounts
for the year ended 31 March 2021
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
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
Motor vehicles
Motor Vehicles Over 3 years
Fixtures & fittings
Fixtures & fittings 20% reducing balance
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
110,562
20,333
153,886
284,781
Additions
320
-
1,055
1,375
Disposals
-
(3,500)
-
(3,500)
At 31 March 2021
110,882
16,833
154,941
282,656
At 1 April 2020
89,326
20,321
98,030
207,677
Charge for the year
8,085
14
11,242
19,341
On disposals
-
(3,500)
-
(3,500)
At 31 March 2021
97,411
16,835
109,272
223,518
At 31 March 2021
13,471
(2)
45,669
59,138
At 31 March 2020
21,236
12
55,856
77,104
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
15,512
62,680
Accrued income and prepayments
44,188
10,984
6
Creditors: amounts falling due within one year
2021
2020
Trade creditors
16,775
42,353
Taxes and social security
12,736
6,834
Other creditors
86,016
27,511
Loans from directors
37,269
91,569
Dougherty & Allen Limited
Notes to the Accounts
for the year ended 31 March 2021
7
Average number of employees
During the year the average number of employees was 28 (2020: 55).
