Abbreviated Company Accounts - DAVID & DAVID LIMITED

Abbreviated Company Accounts - DAVID & DAVID LIMITED

DAVID & DAVID LIMITED - Company Information

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Registered Number 06042953

DAVID & DAVID LIMITED

Abbreviated Accounts

31 January 2014

DAVID & DAVID LIMITED Registered Number 06042953

Abbreviated Balance Sheet as at 31 January 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 28,312 35,001
28,312 35,001
Current assets
Stocks 3,600 3,600
Debtors 16,919 19,126
Cash at bank and in hand 6,218 1,545
26,737 24,271
Creditors: amounts falling due within one year 3 (50,803) (50,720)
Net current assets (liabilities) (24,066) (26,449)
Total assets less current liabilities 4,246 8,552
Creditors: amounts falling due after more than one year 3 (1,067) (4,267)
Provisions for liabilities (2,962) (4,155)
Total net assets (liabilities) 217 130
Capital and reserves
Called up share capital 2 2
Profit and loss account 215 128
Shareholders' funds 217 130
  • For the year ending 31 January 2014 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 16 October 2014

And signed on their behalf by:
Mr J Fulton, Director

DAVID & DAVID LIMITED Registered Number 06042953

Notes to the Abbreviated Accounts for the period ended 31 January 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total receipts, excluding value added tax, and that as agent for the self employed stylists, of sales made during the year and derives from the provision of hairdressing, styling and related services.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Leasehold Properties – Straight life over the life of the lease
Fixtures, fittings and equipment – 15% reducing balance

Other accounting policies
The company has negative current liabilities. The company is therefore reliant upon the continued financial support of its bankers and the directors in order to continue operations. An overdraft facility has been agreed and the directors have indicated their willingness to provide financial support to ensure that the company has sufficient resources to meet third parties debts as they fall due. Accordingly the accounts have been prepared on a going concern basis.


If the support of the bank or the directors were withdrawn, then the going concern basis may not be acceptable. Adjustments may then have to be made to adjust the value of the assets to their recoverable amounts, to provide for any further liabilities that might arise, and to reclassify fixed assets and long term loans as current assets and current liabilities.

Controlling Interest

The directors, by virtue of their shareholding, control the company.

2Tangible fixed assets
£
Cost
At 1 February 2013 80,458
Additions 885
Disposals -
Revaluations -
Transfers -
At 31 January 2014 81,343
Depreciation
At 1 February 2013 45,457
Charge for the year 7,574
On disposals -
At 31 January 2014 53,031
Net book values
At 31 January 2014 28,312
At 31 January 2013 35,001
3Creditors
2014
£		 2013
£
Secured Debts 17,274 22,556