Dorset Joinery Limited - Period Ending 2016-05-31

Registration number: 05396567

Dorset Joinery Limited

Annual Report and Abbreviated Accounts

for the Year Ended 31 May 2016
 

Harney & Co Limited
Chartered Certified Accountants
21 Market Place
Blandford Forum
Dorset
DT11 7AF

Dorset Joinery Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Dorset Joinery Limited
(Registration number: 05396567)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					10,510			13,356
Current assets
Stocks					6,800			11,125
Debtors					45,612			20,077
					52,412			31,202
Creditors: Amounts falling due within one year					(221,483)			(204,545)
Net current liabilities					(169,071)			(173,343)
Total assets less current liabilities					(158,561)			(159,987)
Creditors: Amounts falling due after more than one year					(2,421)			(5,888)
Net liabilities					(160,982)			(165,875)
Capital and reserves
Called up share capital		3			3			3
Profit and loss account					(160,985)			(165,878)
Shareholders' deficit					(160,982)			(165,875)

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 February 2017 and signed on its behalf by:

.........................................
Mrs DF Kershaw-Rowe
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Dorset Joinery Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

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).

Going concern

The directors believe that the company is a going concern and have prepared the financial statements on this basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures and fittings	20% reducing balance
Motor vehicles	25% reducing balance
Computer equipment	25% reducing balance

Stock

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

Deferred tax

Deferred tax is not recognised in respect of timing differences that have originated but not reversed at the balance sheet date as the directors consider that the company is unlikely to have a corporation tax liability in the foreseeable future due to taxable losses being brought forward.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Dorset Joinery Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		98,478			98,478
Additions		650			650
At 31 May 2016		99,128			99,128
Depreciation
At 1 June 2015		85,122			85,122
Charge for the year		3,496			3,496
At 31 May 2016		88,618			88,618
Net book value
At 31 May 2016		10,510			10,510
At 31 May 2015		13,356			13,356

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		3			3			3			3

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