Dave Edwards Double Glazing Limited - Period Ending 2015-12-31

Registration number: 04512556

Dave Edwards Double Glazing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

Dave Edwards Double Glazing 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.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dave Edwards Double Glazing Limited
for the Year Ended 31 December 2015

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

It is your duty to ensure that Dave Edwards Double Glazing 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 Dave Edwards Double Glazing Limited. You consider that Dave Edwards Double Glazing 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 Dave Edwards Double Glazing 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.

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

D C Accounting Solutions Limited
Chartered Accountants and Business Advisers
Heron House,
39-41 Higher Bents Lane,
Bredbury,
Stockport
SK6 1EE

25 May 2016

Page 1

Dave Edwards Double Glazing Limited
(Registration number: 04512556)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					2,919			3,708
Current assets
Stocks					27,000			25,000
Debtors		3			7,623			8,224
Cash at bank and in hand					8,505			5,210
					43,128			38,434
Creditors: Amounts falling due within one year					(39,717)			(41,280)
Net current assets/(liabilities)					3,411			(2,846)
Total assets less current liabilities					6,330			862
Provisions for liabilities					(355)			(463)
Net assets					5,975			399
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					5,875			299
Shareholders' funds					5,975			399

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 18 May 2016 and signed on its behalf by:

.........................................
Mr. David Alan Edwards
Director

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

Dave Edwards Double Glazing 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.

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

Acquired goodwill is written off in equal instalments over its esrtimated useful economic life.

Asset class	Amortisation method and rate
Goodwill	10 years

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
Plant and machinery	20% Reducing balance
Fixtures, fittings and equipment	15% Reducing balance
Motor vehicles	25% Reducing balance
Computer equipment	33% Reducing balance

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

Dave Edwards Double Glazing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		35,000			34,931			69,931
At 31 December 2015		35,000			34,931			69,931
Depreciation
At 1 January 2015		35,000			31,223			66,223
Charge for the year		-			789			789
At 31 December 2015		35,000			32,012			67,012
Net book value
At 31 December 2015		-			2,919			2,919
At 31 December 2014		-			3,708			3,708

3

Debtors

Debtors includes £2,254 (2014 - £1,487) receivable after more than one year.

 

Page 4

Dave Edwards Double Glazing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

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

Page 5