ADC Dispatch Properties Ltd - Period Ending 2015-06-30

Registration number: 3604353

ADC Dispatch Properties Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

ADC Dispatch Properties 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 Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ADC Dispatch Properties Ltd
for the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ADC Dispatch Properties Ltd for the year ended 30 June 2015 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional -standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of ADC Dispatch Properties 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 ADC Dispatch Properties Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ADC Dispatch Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ADC Dispatch Properties 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 ADC Dispatch Properties Ltd. You consider that ADC Dispatch Properties 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 ADC Dispatch Properties 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.

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

NA Associates LLP
Chartered Certified Accountants
Woodgate Studios
2-8 Games Road
Cockfosters
Hertfordshire
EN4 9HN

22 March 2016

Page 1

ADC Dispatch Properties Ltd
(Registration number: 3604353)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			(As restated) 2014 £
Fixed assets
Tangible fixed assets					444,685			248,065
Current assets
Stocks					749,640			749,640
Debtors					2,461			7,208
Cash at bank and in hand					61,597			20,014
					813,698			776,862
Creditors: Amounts falling due within one year					(70,745)			(73,920)
Net current assets					742,953			702,942
Total assets less current liabilities					1,187,638			951,007
Creditors: Amounts falling due after more than one year					(650,595)			(650,595)
Provisions for liabilities					(3,185)			(3,185)
Net assets					533,858			297,227
Capital and reserves
Called up share capital		3			100			100
Revaluation reserve					198,000			-
Profit and loss account					335,758			297,127
Shareholders' funds					533,858			297,227

For the year ending 30 June 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 director acknowledges her 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 director on 22 March 2016

.........................................
Mrs Costanza Cuozzo
Director

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

ADC Dispatch Properties Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 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 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 residule value, over their expected useful economic life as follows

Asset class	Depreciation method and rate
Fixtures and Fittings	25% reducing balance
Motor Vehicles	25% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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.

Page 3

ADC Dispatch Properties Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

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 July 2014		269,923			269,923
Revaluations		198,000			198,000
At 30 June 2015		467,923			467,923
Depreciation
At 1 July 2014		21,858			21,858
Charge for the year		1,380			1,380
At 30 June 2015		23,238			23,238
Net book value
At 30 June 2015		444,685			444,685
At 30 June 2014		248,065			248,065

3	Share capital

Allotted, called up and fully paid shares

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

Page 4