DAD Hire Limited - Period Ending 2015-03-31

Registration number: 07475039

ACCOUNTING PERIOD DATA UPDATE REQUIREDSelect the Update button on the Summary or Disclosure tab

DAD Hire Limited

trading as Bell Interiors

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Neil Wilson & Co Chartered Accountants
42a Walnut Road
Torquay
Devon
TQ2 6HS

DAD Hire Limited
trading as Bell Interiors
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.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
DAD Hire Limited
trading as Bell Interiors
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 DAD Hire Limited for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of DAD Hire 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 DAD Hire Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DAD Hire Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DAD Hire 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 DAD Hire Limited. You consider that DAD Hire 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 DAD Hire 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.

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

Neil Wilson & Co Chartered Accountants
42a Walnut Road
Torquay
Devon
TQ2 6HS

13 November 2015

Page 1

DAD Hire Limited
trading as Bell Interiors
(Registration number: 07475039)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					61,688			70,213
Current assets
Stocks					34,025			29,909
Debtors					144,395			67,534
Cash at bank and in hand					258,845			160,757
					437,265			258,200
Creditors: Amounts falling due within one year					(295,832)			(188,185)
Net current assets					141,433			70,015
Total assets less current liabilities					203,121			140,228
Creditors: Amounts falling due after more than one year					(8,922)			(19,267)
Provisions for liabilities					(12,338)			(14,043)
Net assets					181,861			106,918
Capital and reserves
Called up share capital		4			40			40
Profit and loss account					181,821			106,878
Shareholders' funds					181,861			106,918

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 13 November 2015 and signed on its behalf by:

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

DAD Hire Limited
trading as Bell Interiors
(Registration number: 07475039)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mr Dan Jacobs
Director

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

DAD Hire Limited
trading as Bell Interiors
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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Office equipment	10% Straight line
Plant & machinery	10% Straight line
Motor vehicles	10% Straight line
Fixtures and fittings	10% Straight line

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 4

DAD Hire Limited
trading as Bell Interiors
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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

		Tangible assets £			Total £
Cost
At 1 April 2014		85,242			85,242
At 31 March 2015		85,242			85,242
Depreciation
At 1 April 2014		15,029			15,029
Charge for the year		8,525			8,525
At 31 March 2015		23,554			23,554
Net book value
At 31 March 2015		61,688			61,688
At 31 March 2014		70,213			70,213

3

Creditors

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

Page 5

DAD Hire Limited
trading as Bell Interiors
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

		2015 £			2014 £
After more than five years by instalments		-			12,345

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A Shares of £1 each		30			30			30			30
Ordinary B Shares of £1 each		8			8			8			8
Ordinary C Shares of £1 each		2			2			2			2
		40			40			40			40

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Dan Jacobs
Directors current account balance	(7,740)	-	(5,997)	-
Mr Justin Clive Rattue
	2,771	-	7,014	-
Mr James Brian Wellington
	(13,589)	-	-	-
Andrew Watson Bell
	(7,293)	-	-	-

Page 6