Doug Dransfield Landrovers Ltd - Period Ending 2014-04-30

Registration number: 05119461

Doug Dransfield Landrovers Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Appleby Randall Limited
AIMS Accountants for Business
82 Upper Hanover Street
Sheffield
South Yorkshire
S3 7RQ

Doug Dransfield Landrovers Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Doug Dransfield Landrovers Ltd
for the Year Ended 30 April 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Doug Dransfield Landrovers Ltd for the year ended 30 April 2014 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 Doug Dransfield Landrovers Ltd, 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 Doug Dransfield Landrovers Ltd 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 Doug Dransfield Landrovers Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Doug Dransfield Landrovers Ltd 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 Doug Dransfield Landrovers Ltd. You consider that Doug Dransfield Landrovers Ltd 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 Doug Dransfield Landrovers Ltd. 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.

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

Appleby Randall Limited
AIMS Accountants for Business
82 Upper Hanover Street
Sheffield
South Yorkshire
S3 7RQ

23 February 2016

Page 1

Doug Dransfield Landrovers Ltd
(Registration number: 05119461)
Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					20,904			22,168
Tangible fixed assets					46,510			37,095
					67,414			59,263
Current assets
Stocks					74,848			94,936
Debtors					15,234			654
Cash at bank and in hand					126,527			60,274
					216,609			155,864
Creditors: Amounts falling due within one year					(58,327)			(43,038)
Net current assets					158,282			112,826
Total assets less current liabilities					225,696			172,089
Provisions for liabilities					-			(1,551)
Net assets					225,696			170,538
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					225,596			170,438
Shareholders' funds					225,696			170,538

For the year ending 30 April 2014 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 23 February 2016 and signed on its behalf by:

.........................................
William Henry Michael Hoyland
Director

The notes on pages 3 to 4 form an integral part of these financial statements. Page 2

Doug Dransfield Landrovers Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... 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.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services 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	Reducing Balance 5.7%

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 & Machinery	Reducing Balance 25%
Motor Vehicles	Reducing Balance 25%
Fixtures & Fittings	Reducing Balance 15%

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.

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.

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.

Page 3

Doug Dransfield Landrovers Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2013		34,000			96,540			130,540
Additions		-			24,875			24,875
At 30 April 2014		34,000			121,415			155,415
Depreciation
At 1 May 2013		11,832			59,445			71,277
Charge for the year		1,264			15,460			16,724
At 30 April 2014		13,096			74,905			88,001
Net book value
At 30 April 2014		20,904			46,510			67,414
At 30 April 2013		22,168			37,095			59,263

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4