Dormfresh Limited - Accounts to registrar - small 17.1.1
Dormfresh Limited - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Dormfresh Limited |
| Dormfresh Limited (Registered number: SC209329) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Dormfresh Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Whitefriars Crescent |
| Perth |
| Perthshire |
| PH2 0PA |
| Dormfresh Limited (Registered number: SC209329) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 | ( |
) | ( |
) |
| 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. |
| Dormfresh Limited (Registered number: SC209329) |
| Balance Sheet - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Dormfresh Limited (Registered number: SC209329) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Dormfresh Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are prepared in sterling, which is the functional currency of the company. |
| Monetary amounts in these financial statements are rounded to the nearest £. |
| Turnover |
| Turnover represents the sale of agrochemicals and patent income, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet 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. |
| Dormfresh Limited (Registered number: SC209329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Going concern |
| During the period, the company made a loss before tax of £423,054 (2015: profit of £452,189) and at the |
| Balance Sheet date its current liabilities exceeded its current assets by £1,855,427 (2015: £1,432,893). The |
| company meets its day to day working capital requirements from the support provided by a loan from |
| 1,4GROUP,Inc., a related party by virtue of common control in Dormfresh Ltd. These financial statements |
| have been prepared on a going concern basis which assumes that the company will continue in operational |
| existence for the foreseeable future. |
| The validity of this assumption depends upon the continued support of 1,4GROUP,Inc. If the company was |
| unable to continue in operational existence for the foreseeable future, adjustments would have to be made |
| to amend the balance sheet values of the assets to their recoverable amounts, to provide for further |
| liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and |
| liabilities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Dormfresh Limited (Registered number: SC209329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary "A" Shares | 1 | 700 | 700 |
| Ordinary "B" Shares | 1 | 300 | 300 |
| 1,000 | 1,000 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2016 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 December 2016 | ( |
) |
| Dormfresh Limited (Registered number: SC209329) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 9. | RELATED PARTY DISCLOSURES |
| During the year (2015: £1,527,462) from Dormfresh Limited. This loan is unsecured, interest free and repayable on demand. |
| During the year of common control. As at 31 December 2016 the balance due to Dichlor Laboratories was £ £nil). |
| As at 31 December 2016, £87,378) from Dormfresh Limited. The loan is unsecured, interest free and repayable on demand. |
| 10. | ULTIMATE CONTROLLING PARTY |
| 11. | ULTIMATE PARENT UNDERTAKING |
| The ultimate parent undertaking is 1,4Group, Inc. |