Debt Managers (Uk) Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 05992578 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

DEBT MANAGERS (UK) LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R K Bramham

Mrs S Duffin

M Howorth

SECRETARY:

R K Bramham

REGISTERED OFFICE:

7 Franklin Court

Stannard Way

Priory Business Park

Bedford

Bedfordshire

MK44 3JZ

REGISTERED NUMBER:

05992578 (England and Wales)

ACCOUNTANTS:

Morrell Middleton Auditors Ltd

3 Cayley Court

Clifton Moor

York

North Yorkshire

YO30 4WH

FIXED ASSETS

Tangible assets

2

42,475

32,200

CURRENT ASSETS

Stocks

8,825

4,523

Debtors

117,887

20,635

Cash at bank

1,654

1,038

128,366

26,196

CREDITORS

Amounts falling due within one year

333,753

26,770

NET CURRENT LIABILITIES

(205,387

)

(574

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(162,912

)

31,626

CREDITORS

Amounts falling due after more than one year

16,647

73,979

NET LIABILITIES

(179,559

)

(42,353

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(179,659

)

(42,453

)

SHAREHOLDERS' FUNDS

(179,559

)

(42,353

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 December 2016 and were signed on its behalf by:

R K Bramham - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Work in progress is valued at the lower of the cost to produce the work or net realisable value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

35,120

Additions

20,931

At 31 March 2016

56,051

DEPRECIATION

At 1 April 2015

2,920

Charge for year

10,656

At 31 March 2016

13,576

NET BOOK VALUE

At 31 March 2016

42,475

At 31 March 2015

32,200

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the Company transacted business amounting to £130,512 (2015 £19,572) with Pentagon (UK) Ltd

a Company in which R K Bramham has a controlling interest. At the end of the year the balance outstanding was

£5,886 (2015 £19,572).

All transactions were undertaken on normal commercial terms.