D C Evans Developments Limited - Period Ending 2015-12-31

Registration number: 04103001

D C Evans Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

D C Evans Developments Limited
Contents

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

D C Evans Developments Limited
Company Information

Director

Mr D C Evans

Company secretary

Mrs E Evans

Registered office

Tanygraig Silian Lampeter Ceredigion SA48 8AR

Accountants

PJE Chartered Accountants 23, College Street Lampeter Ceredigion SA48 7DY

Page 1

D C Evans Developments Limited
(Registration number: 04103001)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					153,705			157,525
Investments					120,000			120,000
		2			273,705			277,525
Current assets
Stocks					243,001			156,028
Debtors					2,406			9,438
Cash at bank and in hand					15,059			39,002
					260,466			204,468
Creditors: Amounts falling due within one year					(237,066)			(210,306)
Net current assets/(liabilities)					23,400			(5,838)
Net assets					297,105			271,687
Capital and reserves
Called up share capital		3			4			4
Revaluation reserve					81,371			81,371
Profit and loss account					215,730			190,312
Shareholders' funds					297,105			271,687

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 director acknowledges his 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 director on 29 September 2016

.........................................
Mr D C Evans
Director

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

D C Evans Developments 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.

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 etc	25% on cost and 20% on cost

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Group financial statements

The company was entitled to exemption under section 383 of the Companies Act 2006 from preparing group financial statements.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Page 3

D C Evans Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

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

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2015		195,108			120,000			315,108
At 31 December 2015		195,108			120,000			315,108
Depreciation
At 1 January 2015		37,583			-			37,583
Charge for the year		3,820			-			3,820
At 31 December 2015		41,403			-			41,403
Net book value
At 31 December 2015		153,705			120,000			273,705
At 31 December 2014		157,525			120,000			277,525

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Alveway Ltd			50%	Property development

Page 4

D C Evans Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		4			4			4			4

4	Related party transactions

As at the year end, the amount owed to the company's sole director was £45,362.

5

Control

The single largest shareholding in the company is 50%, therefore there is no ultimate controlling party.

Page 5