Designaction Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 01837418 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 30 November 2016

for

Designaction Limited

Trading as

Wings 'N' Wheels

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Directors:

Mrs E J Stephenson

Mr T A Stephenson

Mrs S J Mclaren

Secretary:

Mr T A Stephenson

Registered office:

18/22

Church Street

Malvern

Worcestershire

WR14 2AY

Registered number:

01837418 (England and Wales)

Accountants:

Allan Brown (Accountancy & Taxation

Services) Ltd

18/22 Church Street

Malvern

Worcestershire

WR14 2AY

Fixed assets

Intangible assets

2

1

Tangible assets

3

1,302

700

1,303

701

Current assets

Stocks

443

295

Cash at bank

3,683

420

4,126

715

Creditors

Amounts falling due within one year

8,431

7,783

Net current liabilities

(4,305

)

(7,068

)

Total assets less current liabilities

(3,002

)

(6,367

)

Capital and reserves

Called up share capital

4

1,000

Profit and loss account

(4,002

)

(7,367

)

Shareholders' funds

(3,002

)

(6,367

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 6 February 2017 and were signed on its
behalf by:

Mrs E J Stephenson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards.

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 is the total amount receivable by the company in the ordinary course of business with outside

customers for goods supplied as a principal and for services provided excluding trade discounts.

Sales in the main consist of moneys from admission to the show and from the rent of stallholder

space.Where payments are received from customers on account of next year's show these are shown as

deferred income and included in creditors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

Stocks

Stock is valued at the lower of cost or net realisable value.Stocks represent the value of the remaining

consumable items on hand at the balance sheet date valued by reference to the original cost price.

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

Rentals paid under operating leases are charged to the Profit and Loss account as incurred.

Operating leases

Rentals paid under operating Leases are charged to the Profit and Loss account as incurred.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

5,075

AMORTISATION

At 1 December 2015

and 30 November 2016

5,074

NET BOOK VALUE

At 30 November 2016

1

At 30 November 2015

1

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

22,059

Additions

1,604

At 30 November 2016

23,663

DEPRECIATION

At 1 December 2015

21,359

Charge for year

1,002

At 30 November 2016

22,361

NET BOOK VALUE

At 30 November 2016

1,302

At 30 November 2015

700

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

1,000

Ordinary

£1

1,000