Accounts filed on 31-03-2016
Accounts filed on 31-03-2016
trueA C Davies Limited055934052016-03-31-45846-60047-45842-6004344-45842-6004301655167010264462121168206074-90085-89611464428466856357757075627975522781852112532150352630628018184947187017Basis of accounting
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).
The company meets its day to day working capital requirements through bank loans. With bank loans it is common that such facilities are repayable on demand. In view of the relationship with the company's bankers, the directors consider it reasonable to rely on the continuation of the loan facilities. The directors intend to meet these obligations for the foreseeable future and on this basis they consider it appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover represents net invoiced sales of goods and services, excluding VAT.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful economic life of that asset as follows:
Goodwill-4% on a straight line basis
Depreciation
No depreciation is provided on Leasehold Property or Coal Yard Improvements.
Deferred taxation
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Fixed Assets
All fixed assets are initially recorded at cost.
Fixtures & Fittingson a reducing balance basis0.2500Office Equipment & Fixtureson a reducing balance basis0.2500Motor Vehicleson a reducing balance basis0.25004280742807165011478917123067163067161217691196992070349523349523138270134488378216701026446250695132826Ordinary1444Creditors: Amounts falling due within one yearThe following liabilities disclosed under creditors falling due within one year are secured by the company: Bank loans and overdrafts 2016 £28,856 (2015 - £30,892)2016-12-24MR JL DAVIESMR AJ DAVIESDirectortruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureA C Davies Limited2015-04-012016-03-31A C Davies Limited2014-04-012015-03-31A C Davies Limited2014-03-31A C Davies Limited2015-03-31A C Davies Limited2015-03-31A C Davies Limited2016-03-31 2016-12-24
