DGPS4U_LIMITED - Accounts

DGPS4U LIMITED - Company Information

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Company Registration No. SC281688 (Scotland)

DGPS4U LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

DGPS4U LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DGPS4U LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,067

3,081

Current assets

Stocks

33,331

44,865

Debtors

155,866

34,171

Cash at bank and in hand

10,752

192

199,949

79,228

Creditors: amounts falling due within one year

(114,639)

(8,515)

Net current assets

85,310

70,713

Total assets less current liabilities

87,377

73,794

Capital and reserves

Called up share capital

Profit and loss account

87,376

73,793

Shareholders' funds

87,377

73,794

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 December 2014

James Sugden

Director

Company Registration No. SC281688

DGPS4U LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

20% Straight Line

Fixtures, fittings & equipment

25% Straight Line

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2013

12,784

Additions

366

At 31 March 2014

13,150

Depreciation

At 1 April 2013

9,703

Charge for the year

1,380

At 31 March 2014

11,083

Net book value

At 31 March 2014

2,067

At 31 March 2013

3,081

DGPS4U LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary shares of £1 each

Related party relationships and transactions

Loan from director

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Loan from Director

308

6,857

571

6,594

308

6,857

571

6,594