Dunchurch Management Services Limited Company Accounts

DUNCHURCH MANAGEMENT SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06643910

Dunchurch Management Services Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2017

Dunchurch Management Services Limited

Financial Statements

Year ended 30 September 2017

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 6

Dunchurch Management Services Limited

Officers and Professional Advisers

The board of directors	Mr P Gallagher
	Miss C M Gallagher

Registered office	The Stables
	South Street
	Ashby de la Zouch
	Leicestershire
	LE65 1BQ

Accountants	Johnson Murkett & Hurst
	Chartered Accountants
	Rawdon House
	Rawdon Terrace
	Ashby de la Zouch
	Leicestershire
	LE65 2GN

Dunchurch Management Services Limited

Statement of Financial Position

30 September 2017

	2017		2016
Note	£	£	£	£

Fixed assets

Tangible assets	5		–		683

Current assets

Debtors	6	201	12,288
Cash at bank and in hand		6,200	4,158
		-------	--------
		6,401	16,446

Creditors: amounts falling due within one year	7	3,632		3,867
		-------		--------
Net current assets			2,769		12,579
			-------		--------
Total assets less current liabilities			2,769		13,262
			-------		--------
Net assets			2,769		13,262
			-------		--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,669	13,162
	-------	--------
Shareholders funds	2,769	13,262
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Dunchurch Management Services Limited

Statement of Financial Position (continued)

30 September 2017

These financial statements were approved by the board of directors and authorised for issue on 21 June 2018 , and are signed on behalf of the board by:

Mr P Gallagher	Miss C M Gallagher
Director	Director

Company registration number: 06643910

Dunchurch Management Services Limited

Notes to the Financial Statements

Year ended 30 September 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Stables, South Street, Ashby de la Zouch, Leicestershire, LE65 1BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 10.

Revenue recognition

Turnover shown in the Statement of Income and Retained Earnings represents amounts invoiced during the year, and is stated net of Value Added Tax. In respect of long-term contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and Fittiings	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities .

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2016: 2 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 October 2016	2,966	2,966
Additions	757	757
Disposals	( 3,723)	( 3,723)
	-------	-------
At 30 September 2017	–	–
	-------	-------
Depreciation
At 1 October 2016	2,283	2,283
Disposals	( 2,283)	( 2,283)
	-------	-------
At 30 September 2017	–	–
	-------	-------
Carrying amount
At 30 September 2017	–	–
	-------	-------
At 30 September 2016	683	683
	-------	-------

6. Debtors

	2017	2016
	£	£
Other debtors	201	12,288
	----	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Other creditors	3,632	3,867
	-------	-------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2017
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr P Gallagher	( 1,111)	6,630	( 8,300)	( 2,781)
	-------	-------	-------	-------

	2016
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr P Gallagher	( 2,583)	1,580	( 108)	( 1,111)
	-------	-------	----	-------

9. Related party transactions

The company was under the control of Mr P Gallagher throughout the period. Mr Gallagher is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.

10. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.

No transitional adjustments were required in equity or profit or loss for the year.