DKP Trading Ltd - Period Ending 2015-05-31

Registration number: 08329947

DKP Trading Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2015
 

TEAM Accountancy Solutions Limited
Endurance House Colmet Court Queensway South
Team Valley Trading Estate
Gateshead
Tyne And Wear
NE11 0EF

DKP Trading 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
DKP Trading Ltd
for the Year Ended 31 May 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DKP Trading Ltd for the year ended 31 May 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 Chartered Institute of Management Accountants (CIMA) , we are subject to its ethical and other professional requirements which are detailed on their website at www.cimaglobal.com/ members/members-handbook.

This report is made solely to the Board of Directors of DKP Trading 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 DKP Trading Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than DKP Trading Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DKP Trading 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 DKP Trading Ltd. You consider that DKP Trading 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 DKP Trading 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.

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

TEAM Accountancy Solutions Limited
Endurance House Colmet Court Queensway South
Team Valley Trading Estate
Gateshead
Tyne And Wear
NE11 0EF

29 February 2016

Page 1

DKP Trading Ltd
(Registration number: 08329947)
Abbreviated Balance Sheet at 31 May 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					15,589			5,025
Current assets
Stocks					500			500
Debtors					7,977			1,909
Cash at bank and in hand					1,979			-
					10,456			2,409
Creditors: Amounts falling due within one year					(25,721)			(9,985)
Net current liabilities					(15,265)			(7,576)
Net assets/(liabilities)					324			(2,551)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					224			(2,651)
Shareholders' funds/(deficit)					324			(2,551)

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 29 February 2016 and signed on its behalf by:

.........................................
Mr M D Proudfoot
Director

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

DKP Trading Ltd
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).

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
Motor Vehicles	25% reducing balance
Franchise Fee	10% straight line

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.

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

DKP Trading Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2014		6,500			6,500
Additions		12,995			12,995
At 31 May 2015		19,495			19,495
Depreciation
At 1 June 2014		1,475			1,475
Charge for the year		2,431			2,431
At 31 May 2015		3,906			3,906
Net book value
At 31 May 2015		15,589			15,589
At 31 May 2014		5,025			5,025

3	Share capital

Allotted, called up and fully paid shares

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

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr M D Proudfoot
Directors Loan Account	35,254	24,451	29,760	33,686

Page 4