Red Dragon Dispense Limited,Ltd - Accounts

RED DRAGON DISPENSE LTD - Company Information

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Red Dragon Dispense Limited

For the year ended 31 August 2016

Unaudited Abbreviated Financial Statements

England and Wales

Registered Number: 02797632

Contents Page

Red Dragon Dispense Limited

For the year ended 31 August 2016

Balance Sheet

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Notes to the Abbreviated Financial Statements

Abbreviated Balance Sheet

Red Dragon Dispense Limited

As at 31 August 2016

02797632

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

110,830

89,074

110,830

89,074

Current assets

Stocks

33,456

26,657

Debtors

83,009

110,601

Cash at bank and in hand

44,291

47,763

181,549

164,228

Creditors: amounts falling due within one year

(99,118)

(87,097)

65,110

94,452

Net current assets

Total assets less current liabilities

205,282

154,184

Creditors: amounts falling due after more than one year

(102,790)

(73,726)

(17,500)

(15,000)

Provisions for liabilities

114,056

Net assets

36,394

Capital and reserves

Called up share capital

100

Profit and loss account

113,956

36,294

114,056

36,394

Shareholders funds

For the year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors 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 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.

Date approved by the board: 10 May 2017

David Edward Green Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Red Dragon Dispense Limited

For the year ended 31 August 2016

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Pension Costs

The company operates defined contribution pension schemes for the benefit of its directors and employees. Contributions

payable are charged to the profit and loss account in the period in which they are payable.

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.

Tangible fixed assets

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

12.50% Straight line

Motor Vehicles

25% Reducing balance

Fixtures and Fittings

25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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Notes to the Abbreviated Financial Statements

Red Dragon Dispense Limited

For the year ended 31 August 2016

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

187,758

At 01 September 2015

53,846

Additions

(25,706)

Disposals

At 31 August 2016

215,898

Depreciation

98,684

At 01 September 2015

(22,000)

Disposals

28,384

Charge for year

105,068

At 31 August 2016

Net book values

At 31 August 2016

110,830

89,074

At 31 August 2015

3 Share capital

Allotted called up and fully paid

2016

2015

100 Ordinary shares of £1.00 each

100

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