ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

DENVER WINDMILL LIMITED - Company Information

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Registered number: 08222902









DENVER WINDMILL LIMITED







UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016
 
DENVER WINDMILL LIMITED
 
 
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DENVER WINDMILL LIMITED
FOR THE YEAR ENDED 31 MARCH 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Denver Windmill Limited for the year ended 31 March 2016 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

As a 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 http://www.icaew.com/en/membership/
regulations-standards-and-guidance.


This report is made solely to the Board of directors of Denver Windmill Limited, as a body, in accordance with the terms of our engagement letter dated 12 May 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Denver Windmill Limited and state those matters that we have agreed to state to the Board of directors of Denver Windmill Limited, as a body, in this report in accordance with ICAEW Technical release TECH07/16AAF . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Denver Windmill Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Denver Windmill Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Denver Windmill Limited. You consider that Denver Windmill Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Denver Windmill 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 financial statements.





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

21 December 2016
Page 1
 
DENVER WINDMILL LIMITED
REGISTERED NUMBER: 08222902

ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2016

2016
2015
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
6,000
6,406
 
CURRENT ASSETS





 
Stocks
-
468

 
Debtors
192
1,911

 
Cash at bank

5,561
-







 
5,753
2,379
 
CREDITORS: amounts falling due within one year
(38,089)
(42,939)
 
NET CURRENT LIABILITIES


(32,336)

(40,560)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
 (26,336)

 (34,154)
  
CAPITAL AND RESERVES

 
Called up share capital
3
1
1
 
Profit and loss account
(26,337)
(34,155)
 
SHAREHOLDERS' DEFICIT
 

 (26,336)

 (34,154)


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 21 December 2016.





Mr J Parry
Director

The notes on pages 3 to 4 form part of these financial statements.

Page 2
 
DENVER WINDMILL LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

1.ACCOUNTING POLICIES

1.1
Basis of preparation of financial statements

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).

1.2
Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

1.3
Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation.  When the mill was open depreciation was provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
33% straight line

1.4
Operating leases

Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3
 
DENVER WINDMILL LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016

2.TANGIBLE FIXED ASSETS



£


Cost 



At 1 April 2015 and 31 March 2016

9,466



Depreciation


At 1 April 2015
3,060

Charge for the year
406


At 31 March 2016

3,466




Net book value


At 31 March 2016
 6,000


At 31 March 2015

 6,406


3.SHARE CAPITAL
        2016
        2015
        £

        £

Allotted, called up and fully paid



1 Ordinary share of £1
 1
 1

Page 4