Dobies Cumbria Workington Limited - Period Ending 2015-10-31

Registration number: 05284351

Dobies Cumbria Workington Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Dobies Cumbria Workington Limited
(Registration number: 05284351)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			1,440,222			7,507
Current assets
Stocks					1,683,014			2,624,013
Debtors					190,594			314,613
Cash at bank and in hand					100			100
					1,873,708			2,938,726
Creditors: Amounts falling due within one year		3			(1,621,120)			(2,709,635)
Net current assets					252,588			229,091
Total assets less current liabilities					1,692,810			236,598
Provisions for liabilities					(94)			-
Net assets					1,692,716			236,598
Capital and reserves
Called up share capital		4			1,093			1,093
Share premium account					74,307			74,307
Revaluation reserve					1,450,000			-
Profit and loss account					167,316			161,198
Shareholders' funds					1,692,716			236,598

The notes on pages 3 to 4 form an integral part of these financial statements.
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Dobies Cumbria Workington Limited
(Registration number: 05284351)
Abbreviated Balance Sheet at 31 October 2015
......... continued

For the year ending 31 October 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 25 July 2016 and signed on its behalf by:

.........................................
Mr W Dobie
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Dobies Cumbria Workington Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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. It includes the relevant proportion of contract values where work is partially performed in the year.

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	25% reducing balance basis
Fixtures, fittings and equipment	25% reducing balance basis

Stocks

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. Work in progress that is in relation to a contract has been valued using UITF40 guidelines.

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.

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.

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Dobies Cumbria Workington Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		108,840			108,840
Additions		1,451,449			1,451,449
At 31 October 2015		1,560,289			1,560,289
Depreciation
At 1 November 2014		101,333			101,333
Charge for the year		18,734			18,734
At 31 October 2015		120,067			120,067
Net book value
At 31 October 2015		1,440,222			1,440,222
At 31 October 2014		7,507			7,507

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		210,623			2,396,405

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,093			1,093			1,093			1,093

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