Dwarampudi Ltd Company Accounts
Dwarampudi Ltd Company Accounts
COMPANY REGISTRATION NUMBER:
07916779
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Financial Statements |
Period from 1 February 2016 to 5 April 2017
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
5 Apr 17 |
31 Jan 16 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
7 |
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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----- |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
18 October 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
07916779
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Notes to the Financial Statements |
Period from 1 February 2016 to 5 April 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Stadium Court, Stadium Road, Bromborough, Wirral, CH62 3RP, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 February 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.
Revenue recognition
Income tax
Tangible assets
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:
Fixtures and fittings |
- |
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Equipment |
- |
50% reducing balance |
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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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Compound instruments
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2016:
1
).
5.
Tangible assets
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 February 2016 and 5 April 2017 |
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1,295 |
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Depreciation |
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At 1 February 2016 |
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1,080 |
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Charge for the period |
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107 |
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At 5 April 2017 |
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1,187 |
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Carrying amount |
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At 5 April 2017 |
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108 |
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At 31 January 2016 |
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215 |
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6.
Debtors
5 Apr 17 |
31 Jan 16 |
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£ |
£ |
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Trade debtors |
– |
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Prepayments and accrued income |
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Director's loan account |
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– |
-------- |
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7.
Creditors:
amounts falling due within one year
5 Apr 17 |
31 Jan 16 |
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£ |
£ |
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Corporation tax |
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Social security and other taxes |
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Director loan accounts |
– |
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Other creditors |
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– |
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8.
Director's advances, credits and guarantees
During the year the director had a maximum overdrawn loan account of £3,670.04. This loan is to be repaid within nine months of the year end.
9.
Related party transactions
The company was under the control of
Mr. C. Dwarampudi
throughout the current period and previous year. Mr. C. Dwarampudi
is the managing director and joint shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.
10.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 February 2015.
No transitional adjustments were required in equity or profit or loss for the year.