Domestics Direct Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03504023 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

DOMESTICS DIRECT LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mrs S Whitlow

SECRETARY:

Mrs S Whitlow

REGISTERED OFFICE:

Oncore House

Longlands Road

Bowness on Windermere

Cumbria

LA23 3AS

REGISTERED NUMBER:

03504023 (England and Wales)

ACCOUNTANTS:

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

BANKERS:

Natwest

Southport Business Centre

PO Box 164

130 Lord St

Southport

Merseyside

PR9 0AB

The following reproduces the text of the report prepared for the director 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 Domestics Direct Limited for the year ended 28 February 2017 which comprise the

Income Statement, 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 Domestics Direct Limited in accordance with the terms of our engagement letter dated 26 March 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Domestics Direct Limited and state those matters that we have agreed to state to the director of Domestics Direct 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 Domestics Direct Limited director for our work or for this report.

It is your duty to ensure that Domestics Direct 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 Domestics Direct Limited. You consider that Domestics Direct 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 Domestics Direct 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.

Bishops

Chartered Accountants

Phoenix Park

Blakewater Road

Blackburn

Lancashire

BB1 5BG

10 November 2017

FIXED ASSETS

Property, plant and equipment

4

31,444

40,318

CURRENT ASSETS

Inventories

68,796

62,650

Debtors

5

126,179

142,711

Cash at bank and in hand

52,845

10,147

247,820

215,508

CREDITORS

Amounts falling due within one year

6

78,926

60,384

NET CURRENT ASSETS

168,894

155,124

TOTAL ASSETS LESS CURRENT LIABILITIES

200,338

195,442

CREDITORS

Amounts falling due after more than one year

7

-

(2,223

)

PROVISIONS FOR LIABILITIES

(4,988

)

(6,047

)

NET ASSETS

195,350

187,172

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

9

175,350

167,172

SHAREHOLDERS' FUNDS

195,350

187,172

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 9 November 2017 and were signed by:

Mrs S Whitlow - Director

1.	STATUTORY INFORMATION

Domestics Direct 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

Inventories 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 have been

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

Deferred tax

Deferred tax is recognised in respect of all 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the

shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of

the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 9 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 March 2016

and 28 February 2017

11,344

24,416

13,960

DEPRECIATION

At 1 March 2016

11,344

14,088

12,243

Charge for year

-

1,549

257

At 28 February 2017

11,344

15,637

12,500

NET BOOK VALUE

At 28 February 2017

-

8,779

1,460

At 29 February 2016

-

10,328

1,717

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2016

and 28 February 2017

64,025

6,832

120,577

DEPRECIATION

At 1 March 2016

35,752

6,832

80,259

Charge for year

7,068

-

8,874

At 28 February 2017

42,820

6,832

89,133

NET BOOK VALUE

At 28 February 2017

21,205

-

31,444

At 29 February 2016

28,273

-

40,318

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2016

and 28 February 2017

35,625

DEPRECIATION

At 1 March 2016

10,576

Charge for year

5,010

At 28 February 2017

15,586

NET BOOK VALUE

At 28 February 2017

20,039

At 29 February 2016

25,049

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

100,327

125,365

Other debtors

25,852

17,346

126,179

142,711

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

2,222

6,667

Trade creditors

21,382

17,889

Taxation and social security

14,887

23,027

Other creditors

40,435

12,801

78,926

60,384

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

2,223

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

2,222

8,890

The hire purchase debts are secured on the assets to which they relate.

9.

RESERVES

Retained

earnings

£

At 1 March 2016

167,172

Profit for the year

8,178

At 28 February 2017

175,350

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Domestics Venture Group Limited.