Company Registration No. 8825745 (England and Wales)
Denim Nation (Hereford) Limited
Unaudited accounts
for the year ended 31 March 2017
Denim Nation (Hereford) Limited
Unaudited accounts
Contents
Denim Nation (Hereford) Limited
Company Information
for the year ended 31 March 2017
Directors
L Conod
Mrs C J Conod
Miss L Conod
Company Number
8825745 (England and Wales)
Registered Office
UNIT 1
HAYWOOD LODGE FARM
HEREFORD
HEREFORDSHIRE
HR2 9RU
Denim Nation (Hereford) Limited
Statement of financial position
as at 31 March 2017
Tangible assets
10,799
3,200
Inventories
375,256
274,913
Cash at bank and in hand
30,172
-
Creditors: amounts falling due within one year
(349,558)
(320,764)
Net current assets
64,088
45,233
Called up share capital
28
28
Profit and loss account
74,859
48,405
Shareholders' funds
74,887
48,433
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 December 2017.
L Conod
Director
Company Registration No. 8825745
Denim Nation (Hereford) Limited
Notes to the Accounts
for the year ended 31 March 2017
Denim Nation (Hereford) Limited is a private company, limited by shares, registered in England and Wales, registration number 8825745. The registered office is UNIT 1, HAYWOOD LODGE FARM, HEREFORD, HEREFORDSHIRE, HR2 9RU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing balance
Fixtures & fittings
20% Reducing balance
Computer equipment
20% Reducing balance
Denim Nation (Hereford) Limited
Notes to the Accounts
for the year ended 31 March 2017
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2016
-
5,000
-
5,000
Additions
2,500
5,328
2,471
10,299
At 31 March 2017
2,500
10,328
2,471
15,299
At 1 April 2016
-
1,800
-
1,800
Charge for the year
500
1,706
494
2,700
At 31 March 2017
500
3,506
494
4,500
At 31 March 2017
2,000
6,822
1,977
10,799
At 31 March 2016
-
3,200
-
3,200
Finished goods
375,256
274,913
Trade debtors
8,218
18,234
Accrued income and prepayments
-
33,044
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
62,261
97,330
Trade creditors
75,091
46,936
Taxes and social security
-
11,403
Loans from directors
212,206
165,095
Allotted, called up and fully paid:
28 Ordinary shares of £1 each
28
28
9
Average number of employees
During the year the average number of employees was 26 (2016: 23).
