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uk-bus:Director1
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uk-gaap:PlantMachinery
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uk-gaap:ComputerEquipment
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iso4217:GBP
For the year ended 31 July 2016
Unaudited Abbreviated Report and Financial Statements
Scotland
Registered Number: SC393181
2
DM Commercials Limited
Accountants' Report
For the year ended 31 July 2016
| In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of DM |
| Commercials Limited for the year ended 31 July 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 firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional |
| requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
| This report is made solely to the Board of Directors of DM Commercials Limited, as a body, in accordance with the terms of |
| our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of DM |
| Commercials Limited and state those matters that we have agreed to state to the Board of Directors of DM Commercials |
| Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as |
| detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or |
| assume responsibility to anyone other than DM Commercials Limited and its Board of Directors as a body for our work or for |
| this report. |
| It is your duty to ensure that DM Commercials Limited has kept adequate accounting records to prepare statutory accounts that |
| give a true and fair view of the assets, liabilities, financial position and loss of DM Commercials Limited. You consider that |
| DM Commercials Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of DM Commercials 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 accounts. |
EM Cubed Ltd
17 Abbeygreen
Lesmahagow
ML11 0EQ
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3
| Abbreviated Balance Sheet |
DM Commercials Limited
2016
2015
2
24,135
29,978
24,135
29,978
120,983
62,634
5
127
62,639
121,110
| Creditors: amounts falling due within one year |
(93,731)
(44,168)
27,379
18,471
Net current assets
| Total assets less current liabilities |
42,606
57,357
| Creditors: amounts falling due after more than one year |
(894)
-
(4,828)
(5,996)
| Provisions for liabilities |
37,778
Net assets
50,467
1
1
37,777
50,466
37,778
50,467
Shareholders funds
| For the year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The director acknowledges his 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. |
| Date approved by the board: 28 April 2017 |
| Mr Darren McLachlan Director |
| Signed on behalf of the board of directors |
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4
| Notes to the Abbreviated Financial Statements |
DM Commercials Limited
For the year ended 31 July 2016
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains and losses expected to arise on sale or where assets have been sold and it is expected that the taxable gain will be rolled over into a replacement asset. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of |
| ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the |
| shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
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5
| Notes to the Abbreviated Financial Statements |
DM Commercials Limited
For the year ended 31 July 2016
59,091
1,249
60,340
29,113
7,092
Charge for year
36,205
24,135
29,978
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