Dolce Ltd - Period Ending 2015-08-31

Registration number: 02470662

Dolce Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

P A Hull & Co
Chartered Accountants
30 Bolton Road
Aspull
Wigan
Lancashire
WN2 1YY

Dolce Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dolce Ltd
for the Year Ended 31 August 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dolce Ltd for the year ended 31 August 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 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 Dolce 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 Dolce 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 Dolce Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dolce 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 Dolce Ltd. You consider that Dolce 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 Dolce 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.

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

P A Hull & Co
Chartered Accountants
30 Bolton Road
Aspull
Wigan
Lancashire
WN2 1YY

25 May 2016

Page 1

Dolce Ltd
(Registration number: 02470662)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					385,490			334,381
Current assets
Stocks					16,061			64,665
Debtors					605,887			560,135
Cash at bank and in hand					220,252			3,444
					842,200			628,244
Creditors: Amounts falling due within one year					(425,553)			(375,009)
Net current assets					416,647			253,235
Total assets less current liabilities					802,137			587,616
Creditors: Amounts falling due after more than one year					(299,782)			(250,000)
Provisions for liabilities					(70,667)			(12,409)
Net assets					431,688			325,207
Capital and reserves
Called up share capital		3			1,159			1,159
Share premium account					4,945			4,945
Revaluation reserve					35,023			35,023
Profit and loss account					390,561			284,080
Shareholders' funds					431,688			325,207

For the year ending 31 August 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 25 May 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Dolce Ltd
(Registration number: 02470662)
Abbreviated Balance Sheet at 31 August 2015
......... continued

.........................................
Mr P D Curtis
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Dolce Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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. Turnover is recognised so as to reflect the right of the company to income based on the value of work performed.

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	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
Freehold property	2% straight line
Plant and machinery	15-25% straight line
Motor vehicles	25% straight line
Fixtures and fittings	15-25% 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.

Page 4

Dolce Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

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.

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.

Pensions

The company operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 1 September 2012.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2014		73,189			482,459			555,648
Additions		-			168,806			168,806
Disposals		-			(4,100)			(4,100)
At 31 August 2015		73,189			647,165			720,354
Depreciation
At 1 September 2014		73,189			148,078			221,267
Charge for the year		-			115,220			115,220
Eliminated on disposals		-			(1,623)			(1,623)
At 31 August 2015		73,189			261,675			334,864
Net book value
At 31 August 2015		-			385,490			385,490
At 31 August 2014		-			334,381			334,381

Page 5

Dolce Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		105			105			105			105
Non voting shares of £1 each		1,054			1,054			1,054			1,054
		1,159			1,159			1,159			1,159

4

Control

The company is controlled by D.C.S.(North West) Limited The company is a subsidiary of D.C.S.(North West) limited, a company incorporated in England and Wales, which holds 100 Ordinary £1 shares. Mrs Jean Curtis holds the remaining 5 Ordinary shares. D.C.S.(North West) Limited is controlled by Mr P D Curtis who owns 70% of the ordinary share capital.
.

Page 6