Doronwell Limited - Period Ending 2015-12-31

Registration number: 04108752

Doronwell Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Critchleys LLP
Chartered Accountants
Greyfriars Court
Paradise Square
Oxford
OX1 1BE

Doronwell Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Doronwell Limited - Registration number: 04108752
Balance Sheet as at 31 December 2015

		Note			2015						2014
	£			£			£			£
Fixed assets
Tangible fixed assets		2						4,998						11,320
Current assets
Stocks					16,908						35,059
Debtors					80,395						63,667
Cash at bank and in hand					85,844						55,819
					183,147						154,545
Creditors: Amounts falling due within one year					(88,587)						(72,356)
Net current assets								94,560						82,189
Total assets less current liabilities								99,558						93,509
Creditors: Amounts falling due after more than one year								-						(1,551)
Provisions for liabilities								(1,000)						(1,999)
Net assets								98,558						89,959
Capital and reserves
Called up share capital		3			2						2
Profit and loss account					98,556						89,957
Shareholders' funds								98,558						89,959

For the year ending 31 December 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 22 March 2016 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 1

Doronwell Limited - Registration number: 04108752
Balance Sheet as at 31 December 2015
......... continued

.........................................
K C Blissett
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
  Page 2

Doronwell Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

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:

Motor vehicles	20% Straight line
Office equipment	50% Straight line
Computer equipment	25% 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.

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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Doronwell Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

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

		Tangible assets £			Total £
Cost
At 1 January 2015		42,695			42,695
Additions		250			250
Disposals		(250)			(250)
At 31 December 2015		42,695			42,695
Depreciation
At 1 January 2015		31,375			31,375
Charge for the year		6,572			6,572
Eliminated on disposals		(250)			(250)
At 31 December 2015		37,697			37,697
Net book value
At 31 December 2015		4,998			4,998
At 31 December 2014		11,320			11,320

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Doronwell Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

4	Related party transactions

During the year the company incurred a management charge from it's parent undertaking, Doronwell Holdings S.A, of £8,000 (2014: £12,000). At the year end £nil (2014: £12,000) remains payable to Doronwell Holdings S.A.

K Blisset is also a director of LA Spas France. During the year the company sold goods totalling £4,174 (2014: £nil) to LA Spas France.

KC Blisset has personally guaranteed the bank borrowings of the company to the value of £50,000 (2014: £50,000).

5

Control

The company is controlled by Doronwell Holdings S.A, a company incorporated in Switzerland from which Doronwell Limited is a wholly owned subsidiary.

Page 5