DIVAWORKS LIMITED - Period Ending 2015-09-30

Registration number: 05229369

DIVAWORKS LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Mint Strategies Ltd t/a Mint Accounting
56 King Street
Aberdeen
AB24 5AX

DIVAWORKS LIMITED
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

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 5) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
DIVAWORKS LIMITED
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of DIVAWORKS LIMITED for the year ended 30 September 2015 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of DIVAWORKS LIMITED, 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 DIVAWORKS LIMITED 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 DIVAWORKS LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that DIVAWORKS LIMITED 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 DIVAWORKS LIMITED. You consider that DIVAWORKS LIMITED 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 DIVAWORKS LIMITED. 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.

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

Mint Strategies Ltd t/a Mint Accounting
56 King Street
Aberdeen
AB24 5AX

27 June 2016

Page 1

DIVAWORKS LIMITED
(Registration number: 05229369)
Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					11,686			11,350
Current assets
Stocks					1,050			-
Debtors					33,134			19,477
Cash at bank and in hand					30,301			19,400
					64,485			38,877
Creditors: Amounts falling due within one year					(76,579)			(63,350)
Net current liabilities					(12,094)			(24,473)
Total assets less current liabilities					(408)			(13,123)
Creditors: Amounts falling due after more than one year					(10,413)			-
Provisions for liabilities					(2,337)			(2,270)
Net liabilities					(13,158)			(15,393)
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(13,160)			(15,395)
Shareholders' deficit					(13,158)			(15,393)

For the year ending 30 September 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 27 June 2016

.........................................
Miss Fiona Thompson
Director

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

DIVAWORKS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 September 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).

Going concern

As at the balance sheet date, the company's liabilities exceeded its assets by £13,158 (2014 £15,393). The company meets its day to day working capital requirements from sales income and a directors loan. The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. If the company was unable to continue in operational existence for the foreseeable future, adjustments would have to be made to amend the balance sheet values to their recoverable amounts and to provide for further liabilities that may arise. The director believes that the financial statements should be prepared on a going concern basis.

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
Fixtures & fittings	25% reducing balance method
Computer equipment	33% straight line basis

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.

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.

Page 3

DIVAWORKS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 September 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 October 2014		16,540			16,540
Additions		3,749			3,749
At 30 September 2015		20,289			20,289
Depreciation
At 1 October 2014		5,190			5,190
Charge for the year		3,413			3,413
At 30 September 2015		8,603			8,603
Net book value
At 30 September 2015		11,686			11,686
At 30 September 2014		11,350			11,350

3	Share capital

Allotted, called up and fully paid shares

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

Page 4

DIVAWORKS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

4	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Miss Fiona Thompson
During the year the director provided the company with an interest free loan, which is unsecured, repayable on demand and shown under Other Creditors	10,123	12,782	58,112	7,188

Page 5