Dactyl Publishing Limited - Period Ending 2016-01-31

Registration number: 4196082

Dactyl Publishing Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Seals King & Co. Limited
Chartered Accountants
17 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX

Dactyl Publishing Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dactyl Publishing Limited
for the Year Ended 31 January 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dactyl Publishing Limited for the year ended 31 January 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Dactyl Publishing Limited, as a body, in accordance with the terms of our engagement letterdated 1 June 2009. Our work has been undertaken solely to prepare for your approval the accounts of Dactyl Publishing Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dactyl Publishing Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dactyl Publishing Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dactyl Publishing Limited. You consider that Dactyl Publishing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dactyl Publishing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Seals King & Co. Limited
Chartered Accountants
17 Brunts Street
Mansfield
Nottinghamshire
NG18 1AX

5 October 2016

Page 1

Dactyl Publishing Limited
(Registration number: 4196082)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					30,610			33,195
Tangible fixed assets					358,807			371,708
					389,417			404,903
Current assets
Stocks					103,183			130,496
Debtors					153,765			130,180
Cash at bank and in hand					6,715			32,070
					263,663			292,746
Creditors: Amounts falling due within one year					(218,939)			(326,080)
Net current assets/(liabilities)					44,724			(33,334)
Total assets less current liabilities					434,141			371,569
Creditors: Amounts falling due after more than one year					(12,212)			(46,420)
Provisions for liabilities					(6,367)			(7,211)
Net assets					415,562			317,938
Capital and reserves
Called up share capital		4			40,565			40,565
Profit and loss account					374,997			277,373
Shareholders' funds					415,562			317,938

For the year ending 31 January 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 5 October 2016 and signed on its behalf by:

.........................................
 Mr A S Womack
 Director

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

Dactyl Publishing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... 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
Goodwill	5% straight line

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
Land and Buildings	Not provided
Fixtures and fittings	25% on reducing balance

Stock and work in progress

Stock and work in progress are 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.

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.

Page 3

Dactyl Publishing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2015		51,700			471,338			523,038
Additions		-			6,727			6,727
At 31 January 2016		51,700			478,065			529,765
Depreciation
At 1 February 2015		18,505			99,630			118,135
Charge for the year		2,585			19,628			22,213
At 31 January 2016		21,090			119,258			140,348
Net book value
At 31 January 2016		30,610			358,807			389,417
At 31 January 2015		33,195			371,708			404,903

Page 4

Dactyl Publishing Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

3

Creditors

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

		2016 £			2015 £
Amounts falling due within one year		40,420			66,328
Amounts falling due after more than one year		12,212			46,419
Total secured creditors		52,632			112,747

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
A Ordinary shares of £1 each		500			500			500			500
B Ordinary shares of £1 each		4			4			4			4
C Ordinary shares of £1 each		61			61			61			61
Preference 2% Fixed Rate shares of £1 each		40,000			40,000			40,000			40,000
		40,565			40,565			40,565			40,565

Redeemable preference shares

The Preference 2% Fixed Rate shares are redeemable. They are redeemable at £1 per share and carry no voting rights.

5

Control

The company is controlled by Mr A Womack & Mrs J Womack who own 100% of the called up share capital.

Page 5