Display Refrigeration Hire Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04294590

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

DISPLAY REFRIGERATION HIRE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

M A Febery

SECRETARY:

B E Hawthorn

REGISTERED OFFICE:

Unit A

Centurion House

Olympus Business Park

Quedgeley

Gloucester

GL2 4NF

REGISTERED NUMBER:

04294590

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Hyland Mews

21 High Street

Clifton

Bristol

BS8 2YF

FIXED ASSETS

Tangible assets

2

147,000

182,889

CURRENT ASSETS

Debtors

258,895

573,812

Cash at bank

84,472

390,672

343,367

964,484

CREDITORS

Amounts falling due within one year

3

180,007

446,961

NET CURRENT ASSETS

163,360

517,523

TOTAL ASSETS LESS CURRENT LIABILITIES

310,360

700,412

CREDITORS

Amounts falling due after more than one year

3

(8,000

)

-

PROVISIONS FOR LIABILITIES

(23,119

)

(23,387

)

NET ASSETS

279,241

677,025

CAPITAL AND RESERVES

Called up share capital

4

85

100

Capital redemption reserve

15

-

Profit and loss account

279,141

676,925

SHAREHOLDERS' FUNDS

279,241

677,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the director on 15 June 2016 and were signed by:

M A Febery - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 the invoiced value of goods and services provided net of value added tax. Revenue is

recognised at the point of delivery of the hired goods and services.

Tangible fixed assets

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Leasehold Property - Term of lease

Hire Equipment - 4-5 years straight line

Motor Vehicles - 4 years straight line

Computers & Office Equipment - 4-10 years straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date where transactions or events have occurred at that date that will result in an obligation to

pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that there will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period on a

straight line basis where this is not materially different to the sum of the digits basis. The capital element of

the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either 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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2014

1,238,230

Additions

72,383

Disposals

(92,917

)

At 30 September 2015

1,217,696

DEPRECIATION

At 1 October 2014

1,055,341

Charge for year

78,638

Eliminated on disposal

(63,283

)

At 30 September 2015

1,070,696

NET BOOK VALUE

At 30 September 2015

147,000

At 30 September 2014

182,889

3.

CREDITORS

Creditors include an amount of £ 12,800 (2014 - £ 3,687 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

85

Ordinary

£1

85

100

During the year 15 ordinary shares were purchased by the company from N Russell for £240,000 cash.