NPD Direct Limited - Period Ending 2015-05-31

Registration number: 04700966

NPD Direct Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

Bulley Davey Limited
Chartered Certified Accountants
1 - 4 London Road
Spalding
Lincolnshire
PE11 2TA

NPD Direct Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

NPD Direct Limited
(Registration number: 04700966)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			10,765			11,928
Current assets
Stocks					9,071			3,303
Debtors					355,149			307,434
Cash at bank and in hand					21,796			42,817
					386,016			353,554
Creditors: Amounts falling due within one year					(267,802)			(221,125)
Net current assets					118,214			132,429
Total assets less current liabilities					128,979			144,357
Creditors: Amounts falling due after more than one year					(20,300)			(40,600)
Net assets					108,679			103,757
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					108,579			103,657
Shareholders' funds					108,679			103,757

For the year ending 31 May 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 15 October 2015 and signed on its behalf by:

 R M A Kedzlie
 Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

NPD Direct Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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.

Turnover

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

Goodwill

Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate of the fair value of that entity's identifiable assets and liabilities.

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.

Asset class	Amortisation method and rate
Goodwill	10% 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
Office equipment	20% reducing balance
Fixtures and fittings	20% reducing balance
Aircraft	15% reducing balance

Work in progress

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

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.

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.

Page 2

NPD Direct Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2014		144,931			40,416			185,347
Additions		-			2,275			2,275
Disposals		-			(2,360)			(2,360)
At 31 May 2015		144,931			40,331			185,262
Depreciation
At 1 June 2014		144,931			28,488			173,419
Charge for the year		-			2,689			2,689
Eliminated on disposals		-			(1,611)			(1,611)
At 31 May 2015		144,931			29,566			174,497
Net book value
At 31 May 2015		-			10,765			10,765
At 31 May 2014		-			11,928			11,928

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3