DCFM (Quotas) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03667782 (England and Wales)

DCFM (QUOTAS) LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D C R Clark

Mrs J S Clark

SECRETARY:

D C R Clark

REGISTERED OFFICE:

Newstead Farm

Station Road

Stixwould

Woodhall Spa

Lincolnshire

LN10 5HW

REGISTERED NUMBER:

03667782 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Boston)

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

268,528

275,411

Investment property

4

780,892

1,049,420

1,056,303

CURRENT ASSETS

Work-in-progress

37,773

65,325

Debtors

30,927

27,583

Cash at bank and in hand

43,773

2,843

112,473

95,751

CREDITORS

Amounts falling due within one year

5

118,937

146,108

NET CURRENT LIABILITIES

(6,464

)

(50,357

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,042,956

1,005,946

CREDITORS

Amounts falling due after more than one year

5

(357,199

)

(379,009

)

PROVISIONS FOR LIABILITIES

(4,939

)

(5,752

)

NET ASSETS

680,818

621,185

CAPITAL AND RESERVES

Called up share capital

6

1,000

Investment revaluation reserve

171,066

Profit and loss account

508,752

449,119

SHAREHOLDERS' FUNDS

680,818

621,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 5 January 2017 and were signed on its behalf by:

D C R Clark - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being an amount paid in connection with the acquisition of a business in 2002, has been fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

1% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Stocks

Work-in-progress and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

15,000

AMORTISATION

At 1 May 2015

and 30 April 2016

15,000

NET BOOK VALUE

At 30 April 2016

-

At 30 April 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

337,672

Additions

4,188

At 30 April 2016

341,860

DEPRECIATION

At 1 May 2015

62,261

Charge for year

11,071

At 30 April 2016

73,332

NET BOOK VALUE

At 30 April 2016

268,528

At 30 April 2015

275,411

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 May 2015

and 30 April 2016

780,892

NET BOOK VALUE

At 30 April 2016

780,892

At 30 April 2015

780,892

5.

CREDITORS

Creditors include an amount of £ 379,588 (2015 - £ 402,904 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

268,860

290,400

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000

7.	ULTIMATE PARENT COMPANY

The ultimate holding company is Newstead Farm Limited which owns 100% of the share capital.

At the balance sheet date the amount owed by Newstead Farm Limited was £838 ( 2015 £Nil)