DJM Tools & Industrial Supplies Ltd - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 04507745 (England and Wales)

DJM TOOLS & INDUSTRIAL SUPPLIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J McEwan

Mrs A K McEwan

SECRETARY:

D J McEwan

REGISTERED OFFICE:

Unit 12

Western Road Industrial Estate

Stratford upon Avon

Warwickshire

CV37 0AH

REGISTERED NUMBER:

04507745 (England and Wales)

ACCOUNTANTS:

Murphy Salisbury Limited

Chartered Accountants

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,660

2,782

4,660

2,782

CURRENT ASSETS

Stocks

61,736

62,518

Debtors

6

28,140

20,276

Cash at bank and in hand

2,034

12,087

91,910

94,881

CREDITORS

Amounts falling due within one year

7

65,140

74,706

NET CURRENT ASSETS

26,770

20,175

TOTAL ASSETS LESS CURRENT LIABILITIES

31,430

22,957

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

16,430

7,957

SHAREHOLDERS' FUNDS

31,430

22,957

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 February 2017 and were signed on its behalf by:

Mrs A K McEwan - Director

1.	STATUTORY INFORMATION

DJM Tools & Industrial Supplies Ltd is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

29,500

AMORTISATION

At 1 January 2016

and 31 December 2016

29,500

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2016

10,782

6,905

17,687

Additions

-

2,375

2,375

At 31 December 2016

10,782

9,280

20,062

DEPRECIATION

At 1 January 2016

8,804

6,101

14,905

Charge for year

296

201

497

At 31 December 2016

9,100

6,302

15,402

NET BOOK VALUE

At 31 December 2016

1,682

2,978

4,660

At 31 December 2015

1,978

804

2,782

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

26,946

18,778

Prepayments and accrued income

1,194

1,498

28,140

20,276

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

12,339

11,360

Taxation

1,586

1,950

Social security and other taxes

2,520

3,432

Directors' current accounts

47,114

56,564

Accruals and deferred income

1,581

1,400

65,140

74,706