Nigel Dorothy Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04947467 (England and Wales)

Nigel Dorothy Limited

Unaudited Financial Statements for the Year Ended 31 January 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

N Dorothy

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04947467 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Lloyds Bank plc

25 Cornhill

Bridgwater

Somerset

TA6 3AY

FIXED ASSETS

Tangible assets

5

1,238,859

1,110,044

CURRENT ASSETS

Stocks

10,500

2,500

Debtors

384,313

419,923

Cash at bank

114,213

-

509,026

422,423

CREDITORS

Amounts falling due within one year

505,680

556,815

NET CURRENT ASSETS/(LIABILITIES)

3,346

(134,392

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,242,205

975,652

CREDITORS

Amounts falling due after more than one year

(377,324

)

(311,004

)

PROVISIONS FOR LIABILITIES

(97,920

)

(83,763

)

NET ASSETS

766,961

580,885

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

766,861

580,785

SHAREHOLDERS' FUNDS

766,961

580,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 17 April 2017 and were signed by:

N Dorothy - Director

1.	STATUTORY INFORMATION

Nigel Dorothy Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Freehold property is not depreciated on the basis that the company has a policy and practice of regular

maintenance and repair that is at least equivalent to what depreciation would have been.

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2016

1,528,734

Additions

716,668

Disposals

(635,580

)

At 31 January 2017

1,609,822

DEPRECIATION

At 1 February 2016

418,690

Charge for year

182,668

Eliminated on disposal

(230,395

)

At 31 January 2017

370,963

NET BOOK VALUE

At 31 January 2017

1,238,859

At 31 January 2016

1,110,044

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 February 2016

504,275

Additions

590,982

Transfer to ownership

(660,675

)

At 31 January 2017

434,582

DEPRECIATION

At 1 February 2016

247,170

Charge for year

131,549

Transfer to ownership

(245,021

)

At 31 January 2017

133,698

NET BOOK VALUE

At 31 January 2017

300,884

At 31 January 2016

257,105

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Bank overdraft

-

39,563

Bank loans

197,032

208,601

Hire purchase contracts

260,378

206,367

457,410

454,531

Bank loans and overdrafts are secured by a charge over the assets of the company.

Finance leases and hire purchase contracts are secured by a fixed charge over the specific financed assets.