DM Contractors (Wellington) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04002880 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2017

FOR

DM CONTRACTORS (WELLINGTON) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A J Vincent

Mrs P M Hill

REGISTERED OFFICE:

Poole Industrial Estate

Poole

Wellington

Somerset

TA21 9HW

REGISTERED NUMBER:

04002880 (England and Wales)

ACCOUNTANTS:

Aspen Waite Doyle

Old Town Hall

Fore Street

Wellington

Somerset

TA21 8LS

BANKERS:

Lloyds TSB

Fore Street

Taunton

Somerset

TA1 1HN

FIXED ASSETS

Tangible assets

4

86,267

101,139

CURRENT ASSETS

Stocks

17,800

15,950

Debtors

5

48,940

52,465

Cash at bank

28,633

40,024

95,373

108,439

CREDITORS

Amounts falling due within one year

6

(50,768

)

(68,065

)

NET CURRENT ASSETS

44,605

40,374

TOTAL ASSETS LESS CURRENT LIABILITIES

130,872

141,513

CREDITORS

Amounts falling due after more than one year

7

(40,000

)

(47,318

)

PROVISIONS FOR LIABILITIES

(16,391

)

(20,228

)

NET ASSETS

74,481

73,967

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

74,381

73,867

SHAREHOLDERS' FUNDS

74,481

73,967

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors on 24th January 2018 and were signed on its behalf by:

Mrs P M Hill - Director

1.	STATUTORY INFORMATION

DM Contractors (Wellington) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover 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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks 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 balance sheet date.

Deferred tax

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

sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1st June 2016

57,102

277,978

1,820

336,900

Additions

-

-

399

399

At 31st May 2017

57,102

277,978

2,219

337,299

DEPRECIATION

At 1st June 2016

42,907

191,035

1,819

235,761

Charge for year

2,129

13,042

100

15,271

At 31st May 2017

45,036

204,077

1,919

251,032

NET BOOK VALUE

At 31st May 2017

12,066

73,901

300

86,267

At 31st May 2016

14,195

86,943

1

101,139

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

Motor

vehicles

£

COST

At 1st June 2016

and 31st May 2017

39,393

DEPRECIATION

At 1st June 2016

6,328

Charge for year

4,960

At 31st May 2017

11,288

NET BOOK VALUE

At 31st May 2017

28,105

At 31st May 2016

33,065

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Trade debtors

46,967

41,802

Corporation tax recoverable

-

655

Prepayments

1,973

10,008

48,940

52,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/17

31/5/16

£

£

Hire purchase contracts

7,318

7,983

Trade creditors

6,207

21,630

Corporation tax

2,857

-

Social security and other taxes

12,484

17,212

Directors' current accounts

21,902

21,240

50,768

68,065

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/17

31/5/16

£

£

Hire purchase contracts

-

7,318

Directors' loan account

40,000

40,000

40,000

47,318

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/5/17

31/5/16

£

£

Hire purchase contracts

7,318

15,301

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs P M Hill.