D R Warehouse Limited - Period Ending 2015-03-31

Registration number: 02304469

D R Warehouse Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Jeeves & Co Limited
Certified Public Accountants
123 Hagley Road
Edgbaston
Birmingham
B16 8LD

D R Warehouse Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
D R Warehouse Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of D R Warehouse Limited for the year ended 31 March 2015 set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

We have carried out this engagement in accordance with technical guidance issued by the Association of Certified Public Accountants and have complied with the ethical guidance laid down by the Association relating to members undertaking the compilation of financial statements.

This report is made solely to the Board of Directors of D R Warehouse Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of D R Warehouse Limited and state those matters that we have agreed to state to them, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D R Warehouse Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that D R Warehouse Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of D R Warehouse Limited. You consider that D R Warehouse 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 accounts of D R Warehouse 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 accounts.

......................................

Jeeves & Co Limited
Certified Public Accountants
123 Hagley Road
Edgbaston
Birmingham
B16 8LD

30 October 2015

Page 1

D R Warehouse Limited
(Registration number: 02304469)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					15,801			19,257
Current assets
Stocks					559,272			578,507
Debtors					96,668			154,618
Cash at bank and in hand					32,836			19,041
					688,776			752,166
Creditors: Amounts falling due within one year					(431,851)			(476,694)
Net current assets					256,925			275,472
Total assets less current liabilities					272,726			294,729
Creditors: Amounts falling due after more than one year					(191,453)			(219,399)
Net assets					81,273			75,330
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					80,273			74,330
Shareholders' funds					81,273			75,330

For the year ending 31 March 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 October 2015 and signed on its behalf by:

.........................................
Mr P Lal
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

D R Warehouse Limited
(Registration number: 02304469)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mrs K Kaur
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

D R Warehouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The company requires the continued support of the creditors; bankers and directors to continue trading. The directors are responsible for the preparation of these accounts on a going concern basis unless it is inappropriate to assume that the company will continue in business. The directors are of the opinion that the company is a going concern.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers. Turnover is recognised and invoiced at the point of despatch of the goods to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Office equipment	25% reducing balance
Motor vehicles	25% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Page 4

D R Warehouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Foreign currency

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		45,000			129,447			174,447
Additions		-			1,144			1,144
At 31 March 2015		45,000			130,591			175,591
Depreciation
At 1 April 2014		45,000			110,190			155,190
Charge for the year		-			4,600			4,600
At 31 March 2015		45,000			114,790			159,790
Net book value
At 31 March 2015		-			15,801			15,801
At 31 March 2014		-			19,257			19,257

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		84,764			106,543
Amounts falling due after more than one year		191,453			219,399
Total secured creditors		276,217			325,942

Page 5

D R Warehouse Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		69,353			97,299

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 6