Abbreviated Company Accounts - DEV RETAIL LTD
Abbreviated Company Accounts - DEV RETAIL LTD
Registered Number NI059425
DEV RETAIL LTD
Abbreviated Accounts
31 May 2016
DEV RETAIL LTD Registered Number NI059425
Abbreviated Balance Sheet as at 31 May 2016
Notes | 2016 | 2015 | |
---|---|---|---|
£ | £ | ||
Called up share capital not paid |
|
|
|
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
|
|||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
For the year ending 31 May 2016 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
And signed on their behalf by:
DEV RETAIL LTD Registered Number NI059425
Notes to the Abbreviated Accounts for the period ended 31 May 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
-
Fixtures, fittings and equipment
-
20% Reducing Balance
-
Motor vehicles
-
20% Reducing Balance
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
Intangible assets amortisation policy
Valuation information and policy
Other accounting policies
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
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 tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Transactions, during the year, which are denominated in foreign currencies are translated at the rates of exchange ruling at the date of the transaction. The resulting exchange differences are dealt with in the profit and loss account.
PARENT AND ULTIMATE PARENT COMPANY
The company regards O'Doibhilin's Ltd as its parent company.
The company's ultimate parent undertaking is O'Doibhilin's Ltd.
£ | |
---|---|
Cost | |
At 1 June 2015 |
|
Additions |
|
Disposals |
( |
Revaluations |
|
Transfers |
|
At 31 May 2016 |
|
Amortisation | |
At 1 June 2015 |
|
Charge for the year |
|
On disposals |
( |
At 31 May 2016 |
|
Net book values | |
At 31 May 2016 | 0 |
At 31 May 2015 | 16,913 |
£ | |
---|---|
Cost | |
At 1 June 2015 |
|
Additions |
|
Disposals |
( |
Revaluations |
|
Transfers |
|
At 31 May 2016 |
|
Depreciation | |
At 1 June 2015 |
|
Charge for the year |
|
On disposals |
( |
At 31 May 2016 |
|
Net book values | |
At 31 May 2016 | 56,118 |
At 31 May 2015 | 95,245 |