DFA Partnership Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 08763308 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2016

FOR

DFA PARTNERSHIP LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

MJ Cast

MS Howell

REGISTERED OFFICE:

Sannerville Chase

Exminster

Exeter

Devon

EX6 8AT

REGISTERED NUMBER:

08763308 (England and Wales)

ACCOUNTANTS:

Sheppard Rockey & Williams Ltd

Sannerville Chase

Exminster

Exeter

Devon

EX6 8AT

FIXED ASSETS

Tangible assets

2

61

-

Investment property

3

671,835

223,863

671,896

223,863

CURRENT ASSETS

Stocks

169,028

-

Debtors

480

5,353

Cash at bank

206,766

16,424

376,274

21,777

CREDITORS

Amounts falling due within one year

942,689

134,757

NET CURRENT LIABILITIES

(566,415

)

(112,980

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

105,481

110,883

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

105,381

110,783

SHAREHOLDERS' FUNDS

105,481

110,883

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 22 November 2016 and were signed on its behalf
by:

MS Howell - 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 the invoiced value of goods and services supplied by the company, net of value added tax

and trade discounts.

Tangible fixed assets

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

Office equipment

-

33% on cost

Computer equipment

-

33% on cost

Investment property

Investment properties are included in the balance sheet at cost and not their open market value as required by

Financial Reporting Standard for Smaller Entities 2008 because the directors believe that the cost of such

valuation would outweigh any benefits which might be received by members.

No depreciation has been provided in respect of the freehold investment properties. Although this is in

accordance with Financial Reporting Standard for Smaller Entities 2008, it represents a departure from the

Companies Act 2006, which requires the systematic annual depreciation of fixed assets. The directors believe

that it is inappropriate to charge depreciation because the properties are held for their investment potential and

that the departure is therefore necessary in order for the financial statements to give a true and fair view. The

amount of depreciation, which might otherwise have been provided, cannot be separately identified or quantified.

Stocks

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.

Deferred tax

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

sheet date.

Going concern

The accounts have been prepared on a going concern basis. The directors have confirmed they will provide

sufficient funding to enable the company to continue trading for at least one year from the date of the approval of

these accounts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

91

At 31 August 2016

91

DEPRECIATION

Charge for year

30

At 31 August 2016

30

NET BOOK VALUE

At 31 August 2016

61

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 September 2015

223,863

Additions

447,972

At 31 August 2016

671,835

NET BOOK VALUE

At 31 August 2016

671,835

At 31 August 2015

223,863

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.16

31.8.15

value:

£

100

Ordinary

1

100