Danem Services Ltd Company Accounts

DANEM SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06347074

Danem Services Ltd

Filleted Unaudited Financial Statements

31 December 2016

Danem Services Ltd

Financial Statements

Year ended 31 December 2016

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

The following pages do not form part of the financial statements

Chartered accountants report to the director on the preparation of the unaudited statutory financial statements	6

Danem Services Ltd

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed assets

Tangible assets	4		374	561

Current assets

Cash at bank and in hand	19,120		20,369

Creditors: amounts falling due within one year	5	54,488		54,531
		--------		--------
Net current liabilities			35,368	34,162
			--------	--------
Total assets less current liabilities			( 34,994)	( 33,601)
			--------	--------
Net liabilities			( 34,994)	( 33,601)
			--------	--------

Capital and reserves

Called up share capital	1,100	1,100
Profit and loss account	( 36,094)	( 34,701)
	--------	--------
Members deficit	( 34,994)	( 33,601)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2016 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 18 September 2017 , and are signed on behalf of the board by:

Mrs J Horgan
Director

Company registration number: 06347074

Danem Services Ltd

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Income tax

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2016 and 31 December 2016	3,546	3,546
	-------	-------
Depreciation
At 1 January 2016	2,985	2,985
Charge for the year	187	187
	-------	-------
At 31 December 2016	3,172	3,172
	-------	-------
Carrying amount
At 31 December 2016	374	374
	-------	-------
At 31 December 2015	561	561
	-------	-------

5. Creditors: amounts falling due within one year

	2016	2015
	£	£
Social security and other taxes	–	145
Other creditors	54,488	54,386
	--------	--------
	54,488	54,531
	--------	--------

6. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2016
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J Horgan	( 54,014)	( 474)	( 54,488)
	--------	----	--------

	2015
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J Horgan	( 54,014)	–	( 54,014)
	--------	----	--------

7. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.

Danem Services Ltd

Management Information

Year ended 31 December 2016

The following pages do not form part of the financial statements.

Danem Services Ltd

Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Danem Services Ltd

Year ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Danem Services Ltd for the year ended 31 December 2016, which comprise the 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Danem Services Ltd in accordance with the terms of our engagement letter dated 25 February 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Danem Services Ltd and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Danem Services Ltd and its director for our work or for this report.

It is your duty to ensure that Danem Services Ltd 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 loss of Danem Services Ltd. You consider that Danem Services Ltd 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 Danem Services Ltd. 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.

McGILLS Chartered Accountants

Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US

21 September 2017