pinacle - Company Accounts (iXBRL 6.0.16)

DANMAS LTD

FILLETED FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2017

COMPANY REGISTRATION NUMBER - 06971952

	1.
DANMAS LTD
COMPANY NUMBER - 06971952
BALANCE SHEET AS AT 31 JULY 2017

			2017		2016
			----		----

	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	4		2,063		1,428
Investments	5		76,705		76,805
			78,768		78,233
CURRENT ASSETS
Debtors	6	600,000		500,000
Cash at bank and in hand		412,784		334,754
		1,012,784		834,754
CURRENT LIABILITIES
CREDITORS - Amounts
falling due within one year	7	84,168		105,432
NET CURRENT ASSETS			928,616		729,322
TOTAL ASSETS LESS CURRENT LIABILITIES			1,007,384		807,555
CAPITAL AND RESERVES
Called up share capital	8		1,000		1,000
Profit and Loss account			1,006,384		806,555
SHAREHOLDERS' FUNDS			1,007,384		807,555

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.

For the financial year ended 31 July 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the board of directors on16 February 2018
and signed on their behalf by:
N J Woolf
The notes on pages 2 to 4 form an integral part of these accounts.

	2.
DANMAS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2017
1. COMPANY INFORMATION

Danmas Ltd is a Private Company, limited by shares, domiciled in England and Wales, registration number 06971952.

The company's registered office is 2nd Floor, Parkgates, Manchester, M25 0TL .

2. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 9.

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

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

FIXED ASSET INVESTMENTS

Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provision for impairment in value. Investment income is recognised in the financial statements when the company becomes entitled to its share of profits from the investment.

TANGIBLE FIXED ASSETS AND DEPRECIATION

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Office and computer equipment - 25% reducing balance

PENSION COSTS

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

	3.
DANMAS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2017

	2017		2016
	----		----
	£		£

3. EMPLOYEES

The average number of persons employed by the company (including directors) during the year was 1 (2016 - 1).

4. FIXED ASSETS - TANGIBLE

	Plant and
	Machinery
	etc.
Fair value	£
At 1 August 2016	4,265
Additions	1,323
At 31 July 2017	5,588
Depreciation
At 1 August 2016	2,837
Charge for year	688
At 31 July 2017	(3,525)
Net book values
At 31 July 2017	2,063
At 1 August 2016	1,428

5. FIXED ASSETS - INVESTMENTS

	Unlisted
	Investments
	£
Cost
At 1 August 2016	76,805
Disposals	100
At 31 July 2017	76,705
Subsidiary undertaking

The company's investment in subsidiary companies represents 100% holdings in both Compulease Limited and Funding for Education Ltd.

	4.
DANMAS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2017

	2017		2016
	----		----
	£		£
6. DEBTORS
Due within one year:
Other debtors	600,000		500,000

	2017		2016
	----		----
	£		£
7. CREDITORS
Amounts falling due within one year:
Taxation and social security	81,179		38,650
Director's Current Account	1,789		227
Other creditors	1,200		66,555
	84,168		105,432
8. CALLED UP SHARE CAPITAL

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 eachOrdinary	1,000		1,000

9. IMPACT OF FIRST YEAR ADOPTION OF FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.