D.R.E. & Co (Audit) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04982926 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

D.R.E. & CO (AUDIT) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Matthews B.Sc., F.C.A.

Mrs C H Matthews B.Sc., F.C.A.

F Nock F.C.C.A.

M R Kent A.C.A., C.T.A.

R B Heath

Mrs R Emonson B.Sc., F.C.A.

A R Davies F.C.C.A

P Morjaria F.C.C.A

SECRETARY:

M R Kent A.C.A., C.T.A.

REGISTERED OFFICE:

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

REGISTERED NUMBER:

04982926 (England and Wales)

ACCOUNTANTS:

D.R.E. & CO

7 Lower Brook Street

Oswestry

Shropshire

SY11 2HG

FIXED ASSETS

Intangible assets

5

102,876

119,791

CURRENT ASSETS

Debtors

6

180,227

168,282

Cash at bank

43,316

9,061

223,543

177,343

CREDITORS

Amounts falling due within one year

7

108,615

177,752

NET CURRENT ASSETS/(LIABILITIES)

114,928

(409

)

TOTAL ASSETS LESS CURRENT LIABILITIES

217,804

119,382

CAPITAL AND RESERVES

Called up share capital

220

220

Retained earnings

217,584

119,162

SHAREHOLDERS' FUNDS

217,804

119,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 by the Board of Directors on 22 June 2018 and were signed on its behalf by:

F Nock F.C.C.A. - Director

1.	STATUTORY INFORMATION

D.R.E. & Co (Audit) 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the going concern basis on the expectation that the company

shall continue to trade for the foreseeable future.

The financial statements are presented in Sterling (£) rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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.

Leasing

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership

of an asset, the lease is treated as a ‘finance lease’. The asset is recorded in the balance sheet as a tangible fixed

asset and is depreciated over its estimated useful life or the term of the lease, whichever is shorter. Future

instalments under such leases, net of finance charges, are included within creditors. Rentals payable are

apportioned between the finance element, which is charged to the profit and loss account, and the capital element

which reduces the outstanding obligation for future instalments.

All other leases are accounted for as ‘operating leases’ and the rental charges are charged to the profit and loss

account on a straight line basis over the life of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - NIL ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

338,296

AMORTISATION

At 1 April 2017

218,505

Charge for year

16,915

At 31 March 2018

235,420

NET BOOK VALUE

At 31 March 2018

102,876

At 31 March 2017

119,791

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

137,237

164,341

Amounts owed by participating interests

4,046

-

Other debtors

38,944

3,941

180,227

168,282

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

-

7,867

Trade creditors

3,934

7,904

Amounts owed to participating interests

-

56,432

Taxation and social security

69,797

70,665

Other creditors

34,884

34,884

108,615

177,752

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank overdraft

-

7,867

A banking facility is secured by a fixed and floating charge over the assets of the company dated 11 April 2011.

Three directors have also provided a joint guarantee limited to £75,000 to secure the facility

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The Company is controlled by holders of the C Ordinary shares.