Designed Storage Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 01606188 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

DESIGNED STORAGE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr C J Young

REGISTERED OFFICE:

139-141 Watling Street

Gillingham

Kent

ME7 2YY

REGISTERED NUMBER:

01606188 (England and Wales)

ACCOUNTANTS:

Stephen Hill Partnership Limited

139-141 Watling Street

Gillingham

Kent

ME7 2YY

FIXED ASSETS

Tangible assets

2

12,319

17,910

CURRENT ASSETS

Stocks

265,396

53,419

Debtors

335,908

222,941

Cash at bank and in hand

157,045

146,797

758,349

423,157

CREDITORS

Amounts falling due within one year

593,707

342,971

NET CURRENT ASSETS

164,642

80,186

TOTAL ASSETS LESS CURRENT
LIABILITIES

176,961

98,096

CREDITORS

Amounts falling due after more than one
year

5,397

9,335

NET ASSETS

171,564

88,761

CAPITAL AND RESERVES

Called up share capital

3

1,500

Profit and loss account

170,064

87,261

SHAREHOLDERS' FUNDS

171,564

88,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 by the director on 5 August 2016 and were signed by:

Mr C J Young - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and are in accordance with

applicable accounting standards.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

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

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

115,843

Additions

783

Disposals

(63,303

)

At 31 March 2016

53,323

DEPRECIATION

At 1 April 2015

97,933

Charge for year

6,372

Eliminated on disposal

(63,301

)

At 31 March 2016

41,004

NET BOOK VALUE

At 31 March 2016

12,319

At 31 March 2015

17,910

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,500

Ordinary

£1

1,500

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and

31 March 2015:

2016

2015

£

Mr C J Young

Balance outstanding at start of year

1,523

41,386

Amounts advanced

16,247

1,222

Amounts repaid

(6,555

)

(41,085

)

Balance outstanding at end of year

11,215

1,523