Direct Air Supplies (Southern) Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09659041 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Direct Air Supplies (Southern) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R A Newton

REGISTERED OFFICE:

12 Dickens Way

Romford

Essex

RM1 4GQ

REGISTERED NUMBER:

09659041 (England and Wales)

ACCOUNTANTS:

J M H Financials Limited

Chartered Accountants

Cumbrae

Brittains Lane

Sevenoaks

Kent

TN13 2NF

FIXED ASSETS

Tangible assets

4

21,661

-

CURRENT ASSETS

Stocks

7,500

-

Debtors

5

300,489

-

Cash at bank and in hand

984,652

1

1,292,641

1

CREDITORS

Amounts falling due within one year

6

372,891

-

NET CURRENT ASSETS

919,750

1

TOTAL ASSETS LESS CURRENT LIABILITIES

941,411

1

PROVISIONS FOR LIABILITIES

1,500

-

NET ASSETS

939,911

1

CAPITAL AND RESERVES

Called up share capital

2

1

Share premium

857,439

-

Retained earnings

82,470

-

SHAREHOLDERS' FUNDS

939,911

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 20 April 2018 and were signed by:

R A Newton - Director

1.	STATUTORY INFORMATION

Direct Air Supplies (Southern) Ltd 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.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires the directors

to exercise judgement in applying accounting policies.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors receivable/payable within one year are recorded at transaction price. Any losses from impairment are

recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

32,973

Disposals

(5,243

)

At 30 June 2017

27,730

DEPRECIATION

Charge for year

6,069

At 30 June 2017

6,069

NET BOOK VALUE

At 30 June 2017

21,661

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

291,977

-

Other debtors

8,512

-

300,489

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

207,926

-

Taxation and social security

34,071

-

Other creditors

130,894

-

372,891

-

7.	OTHER FINANCIAL COMMITMENTS

The company has commitments, guarantees and contingencies of £100,625

In addition the company became eligible to provide a staff pension under auto-enrollment from 1 April 2018. The annual

commitment will be equal to 2% of the qualifying earnings of those employees who elected to join the scheme, rising to 3%

by 2019. This will be equivalent to an annual contribution of £240.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 were paid to the director .