Development Design Partnership Limited - Period Ending 2015-12-31

Registration number: 01372905

Development Design Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Development Design Partnership Limited
(Registration number: 01372905)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					26,250			48,750
Tangible fixed assets					6,648			7,029
					32,898			55,779
Current assets
Stocks					3,500			3,500
Debtors					72,649			83,919
Cash at bank and in hand					711			5,691
					76,860			93,110
Creditors: Amounts falling due within one year					(28,870)			(46,435)
Net current assets					47,990			46,675
Net assets					80,888			102,454
Capital and reserves
Called up share capital		3			10			10
Other reserves					1			1
Profit and loss account					80,877			102,443
Shareholders' funds					80,888			102,454

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 28 August 2016 and signed on its behalf by:

.........................................
Mr Martin Healer
Company secretary and director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Development Design Partnership 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

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Acquired goodwill	5% straight line basis

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 & equipment	10% reducing balance basis
motor vehicles	25% reducing balance basis

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Page 2

Development Design Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2015		450,000			16,385			466,385
Additions		-			358			358
At 31 December 2015		450,000			16,743			466,743
Depreciation
At 1 January 2015		401,250			9,356			410,606
Charge for the year		22,500			739			23,239
At 31 December 2015		423,750			10,095			433,845
Net book value
At 31 December 2015		26,250			6,648			32,898
At 31 December 2014		48,750			7,029			55,779

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		10			10			10			10

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