Deards Decorations Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05647993 (England and Wales)

DEARDS DECORATIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2017

Page

Company Information

1

Accountants' Report

2

Abridged Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTOR:

D W Deards

SECRETARY:

S E Deards

REGISTERED OFFICE:

13 Pondcroft Road

Knebworth

Hertfordshire

SG3 6DB

REGISTERED NUMBER:

05647993 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the

company is only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Deards Decorations Limited for the year ended 31st January 2017

which comprise the Income Statement, Abridged Statement of Financial Position, and the related notes

from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Deards Decorations Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Deards Decorations Limited and state those matters that we have agreed to state to the director of Deards Decorations Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Deards Decorations Limited director for our work or for this report.

It is your duty to ensure that Deards Decorations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Deards Decorations Limited. You consider that Deards Decorations 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 financial statements of Deards Decorations 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 financial statements.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

20th September 2017

FIXED ASSETS

Tangible assets

5

13,034

567

CURRENT ASSETS

Debtors

56,689

64,341

Cash at bank and in hand

725

4,820

57,414

69,161

CREDITORS

Amounts falling due within one year

(65,468

)

(69,110

)

NET CURRENT (LIABILITIES)/ASSETS

(8,054

)

51

TOTAL ASSETS LESS CURRENT LIABILITIES

4,980

618

CREDITORS

Amounts falling due after more than one year

(4,420

)

-

NET ASSETS

560

618

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

460

518

SHAREHOLDERS' FUNDS

560

618

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Financial Position for the year ended 31st 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 8th September 2017 and were signed by:

D W Deards - Director

1.	STATUTORY INFORMATION

Deards Decorations 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.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Revenue recognition

Revenue is recognised in the profit and loss account during the month the works are carried out.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Financial instruments

Basic financial instruments are recognised at amortised costs, except for investments in

non-convertible preference and non-puttable ordinary shares which are measured at fair value, with

changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes recognised in profit or loss.

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 have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

5.	TANGIBLE FIXED ASSETS

Totals

£

Cost

At 1st February 2016

14,932

Additions

15,300

At 31st January 2017

30,232

Depreciation

At 1st February 2016

14,365

Charge for year

2,833

At 31st January 2017

17,198

Net book value

At 31st January 2017

13,034

At 31st January 2016

567

The obligations under finance leases are secured against the items of plant and machinery to which

they relate that have a carrying amount of £12,750.

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2017

2016

£

£

Net obligations repayable:

Within one year

3,120

-

Between one and five years

4,420

-

7,540

-

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

7,540

-

The hire purchase contracts are secured against the items of plant and machinery to which they

relate.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the director D W Deards, owed £21,415 (2016 : £21,265) to the company.

The amount if being repaid after the year end.

10.	TRANSITION TO FINANCIAL REPORTING STANDARD 102

This is the first year that the company has presented its results in accordance with the provisions of

Section 1A "Small Entities" of Financial Reporting Standard 102. The last financial statements under

the provisions of UK GAAP were for the year ended 31 January 2016. The date of the transition to

Section 1A "Small Entities" of Financial Reporting Standard 102 was 1 February 2015. There has been

no effect on the financial statements arising from the transition from UK GAAP as previously

reported and Section 1A "Small Entities" of Financial Reporting Standard 102.