Derwent Fencing Limited - Abbreviated accounts 16.3
Derwent Fencing Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Accounts |
| for the Period 1 May 2015 to 30 June 2016 |
| for |
| Derwent Fencing Limited |
| Derwent Fencing Limited (Registered number: 05308726) |
| Contents of the Abbreviated Accounts |
| for the Period 1 May 2015 to 30 June 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 7 |
| Derwent Fencing Limited |
| Company Information |
| for the Period 1 May 2015 to 30 June 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Derwent Fencing Limited (Registered number: 05308726) |
| Abbreviated Balance Sheet |
| 30 June 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| Derwent Fencing Limited (Registered number: 05308726) |
| Abbreviated Balance Sheet - continued |
| 30 June 2016 |
| The financial statements were approved by the Board of Directors on behalf by: |
| Derwent Fencing Limited (Registered number: 05308726) |
| Notes to the Abbreviated Accounts |
| for the Period 1 May 2015 to 30 June 2016 |
| 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 goods and services, excluding value added tax. |
| Goodwill |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investment property |
| No depreciation is provided for in respect of investment properties in accordance with the Financial |
| Reporting Standard for Smaller Entities (effective April 2008). Such properties are held for their |
| investment potential and not for consumption within the business. This is a departure from the |
| Companies Act 2006 which requires all properties to be depreciated and the directors consider that to |
| depreciate them would not enable the financial statements to give a true and fair view. Investment |
| properties are stated at their market value at the balance sheet date. |
| Stocks |
| 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 recognised in respect of all material 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. |
| Derwent Fencing Limited (Registered number: 05308726) |
| Notes to the Abbreviated Accounts - continued |
| for the Period 1 May 2015 to 30 June 2016 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| and 30 June 2016 |
| AMORTISATION |
| At 1 May 2015 |
| Amortisation for period |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 April 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 May 2015 |
| Additions |
| Disposals | ( |
) |
| At 30 June 2016 |
| DEPRECIATION |
| At 1 May 2015 |
| Charge for period |
| Eliminated on disposal | ( |
) |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 April 2015 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 May 2015 |
| and 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 April 2015 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| Derwent Fencing Limited (Registered number: 05308726) |
| Notes to the Abbreviated Accounts - continued |
| for the Period 1 May 2015 to 30 June 2016 |
| 5. | CREDITORS - continued |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 65,691 | 66,265 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the period ended 30 June 2016 and |
| the year ended 30 April 2015: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of period | ( |
) | ( |
) |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts advanced | ( |
) | ( |
) |
| Amounts repaid |
| Balance outstanding at end of period | ( |
) | ( |
) |
| The director's loan account balances, relating to P J Brockley and J P Brockley, can be found in |
| debtors (note 8). Interest is being charged per the official rates of interest set out by HMRC under the |
| Beneficial Loan Arrangement rules. |
| 8. | RELATED PARTY DISCLOSURES |
entitled to |
| During the year the company had transactions with Sales in the year amounted to £Nil (2015: £37,536) and purchases amounted to £23,069 (2015: £3,032). |
| The amount owed from the related party was £357,143 (2015: £226,937) shown within debtors (note |
| 8). |
| 9. | ULTIMATE CONTROLLING PARTY |
equal holding of all the company's issued share capital. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Derwent Fencing Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to six) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Derwent Fencing Limited for the period ended 30 June 2016 which comprise the |
| Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records |
| and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Derwent Fencing Limited, as a body, in accordance with the terms of our engagement letter dated 30 September 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Derwent Fencing Limited and state those matters that we have agreed to state to the Board of Directors of Derwent Fencing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Derwent Fencing Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Derwent Fencing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Derwent Fencing Limited. You consider that Derwent Fencing Limited is exempt from the statutory audit requirement for the period. |
| We have not been instructed to carry out an audit or a review of the financial statements of Derwent Fencing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 30 March 2017 |