DCT Facilities Management Limited - Period Ending 2017-04-30

Registration number: 07533021

DCT Facilities Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

Sobell Rhodes LLP
Chartered Accountants
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

DCT Facilities Management Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Statement of Changes in Equity	4
Notes to the Financial Statements	5 to 10

DCT Facilities Management Limited

Company Information

Director

Mr P Titus

Company secretary

Mrs H L Titus

Registered office

Ground Floor Unit 501 Centennial Park Centennial Avenue Elstree, Borehamwood Hertfordshire WD6 3FG

Accountants

Sobell Rhodes LLP Chartered Accountants Ground Floor Unit 501 Centennial Park Centennial Avenue Elstree, Borehamwood Hertfordshire WD6 3FG

Page 1

DCT Facilities Management Limited

(Registration number: 07533021)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	290	580
Investments	5	100	100
		390	680
Current assets
Debtors	6	14,438	64,235
Cash at bank and in hand		39,452	36,371
		53,890	100,606
Creditors: Amounts falling due within one year	7	(42,321)	(100,461)
Net current assets		11,569	145
Total assets less current liabilities		11,959	825
Provisions for liabilities		(77)	(136)
Net assets		11,882	689
Capital and reserves
Called up share capital		100	100
Profit and loss account		11,782	589
Total equity		11,882	689

The notes on pages 5 to 10 form an integral part of these financial statements.

Page 2

DCT Facilities Management Limited

(Registration number: 07533021)
Balance Sheet as at 30 April 2017

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 4 August 2017
 

Mr P Titus

Director

The notes on pages 5 to 10 form an integral part of these financial statements.

Page 3

DCT Facilities Management Limited

Statement of Changes in Equity for the Year Ended 30 April 2017

	Share capital £	Profit and loss account £	Total £
At 1 May 2016	100	589	689
Profit for the year	-	181,793	181,793
Total comprehensive income	-	181,793	181,793
Dividends	-	(170,600)	(170,600)
At 30 April 2017	100	11,782	11,882

	Share capital £	Profit and loss account £	Total £
At 1 May 2015	100	17,634	17,734
Profit for the year	-	261,595	261,595
Total comprehensive income	-	261,595	261,595
Dividends	-	(278,640)	(278,640)
At 30 April 2016	100	589	689

The notes on pages 5 to 10 form an integral part of these financial statements.

Page 4

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Ground Floor
Unit 501 Centennial Park
Centennial Avenue
Elstree, Borehamwood
Hertfordshire
WD6 3FG

These financial statements were authorised for issue by the director on 4 August 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	25% Straight Line

Page 5

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 6

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2016 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2016	1,160	1,160
At 30 April 2017	1,160	1,160
Depreciation
At 1 May 2016	580	580
Charge for the year	290	290
At 30 April 2017	870	870
Carrying amount
At 30 April 2017	290	290
At 30 April 2016	580	580

5	Investments

	2017 £	2016 £
Investments in subsidiaries	100	100

Subsidiaries	£
Cost or valuation
At 1 May 2016	100
Provision
Carrying amount
At 30 April 2017	100
At 30 April 2016	100

Page 7

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2017	2016
Subsidiary undertakings
DCT Facilities Management (Services) Limited	Ground Floor, Unit 501 Centennial Park, Centennial Avenue, Elstree, Borehamwood, WD6 3FG	Ordinary Shares	100%	100%
	England and Wales

The principal activity of DCT Facilities Management (Services) Limited is The provision of Facilities Management Consultancy.

6

Debtors

	Note	2017 £	2016 £
Trade debtors		3,120	-
Amounts owed by group undertakings	9	10,753	62,628
Other debtors		565	1,607
Total current trade and other debtors		14,438	64,235

7

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		476	564
Amounts owed to related parties	9	5,643	68,907
Corporation tax		24,131	20,022
Taxation and social security		12,071	10,968
		42,321	100,461

Page 8

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

8

Dividends

Interim dividends paid

	2017 £	2016 £
Interim dividend of £1 per each Ordinary share	170,600	278,640

9	Related party transactions

Transactions with directors

2017	At 1 May 2016 £	Advances to directors £	At 30 April 2017 £
Loans from director	(68,907)	63,264	(5,643)

2016	At 1 May 2015 £	Other payments made to company by director £	At 30 April 2016 £
Loans from director	(2,981)	(65,926)	(68,907)

Directors' remuneration

The director's remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	8,784	10,292

Dividends paid to director and his wife

	2017 £	2016 £
Dividends	170,600	278,640

Income and receivables from related parties

2017	Subsidiary £
Dividends received	85,000
Amounts receivable from related party	10,753

Page 9

DCT Facilities Management Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

2016	Subsidiary £
Dividends received	181,740
Amounts receivable from related party	62,628

10	Transition to FRS 102

This is the first year that the Company has presented its results under FRS 102 1A. The last financial statements prepared under the previous UK GAAP were for the year ended 30 April 2016. The date of transition to FRS 102 1A was 1 May 2015. The reported financial position and financial performance are not affected by the transition to FRS 102 1A.

Page 10