Diacut Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04683119 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2018

for

Diacut Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H G Hayward

REGISTERED OFFICE:

Whetcombe Whey

Ropers Lane

Wrington

Somerset

BS40 5NH

BUSINESS ADDRESS:

192 Marsh Lane

Henstridge

Templecombe

Somerset

BA8 0TG

REGISTERED NUMBER:

04683119 (England and Wales)

ACCOUNTANTS:

R G Holder & Co Ltd

Chartered Accountants

Whetcombe Whey

Ropers Lane

Wrington

Somerset

BS40 5NH

BANKERS:

Lloyds Bank

24 High Street

Wells

Somerset

BA5 2SJ

FIXED ASSETS

Tangible assets

4

3,268

7,458

CURRENT ASSETS

Stocks

3,750

4,500

Debtors

28,070

74,964

Cash at bank

57,858

22,417

89,678

101,881

CREDITORS

Amounts falling due within one year

13,328

12,521

NET CURRENT ASSETS

76,350

89,360

TOTAL ASSETS LESS CURRENT LIABILITIES

79,618

96,818

PROVISIONS FOR LIABILITIES

269

750

NET ASSETS

79,349

96,068

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

79,249

95,968

SHAREHOLDERS' FUNDS

79,349

96,068

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 6th July 2018 and were signed by:

H G Hayward - Director

1.	STATUTORY INFORMATION

Diacut 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.	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 following accounting policies have been consistently applied in dealing with the items which are considered

material to the company's accounts.

Turnover

Turnover consists of the invoiced value (excluding VAT), for goods and services supplied to third parties.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

Over 10 years at 10% per annum

Plant and machinery etc

-

Over 3 years on a straight line basis

It is the company's policy to remove the original cost and the accumulated depreciation from the fixed assets of

all those items that were acquired more than 10 years previously.

Stocks

Stocks are stated at the lower of cost and net realisable value in the ordinary course of business.

Taxation

The charge for taxation is based on the trading profit or loss for the year and takes into account deferred taxation.

Full provision is made for deferred tax liabilities arising from timing differences between the recognition of gains

and losses in the accounts and their recognition for corporate tax purposes. No account is taken for any deferred

tax assets where they arise.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held

separately from those of the company. The contributions payable are charged against profits in the period they

are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2017

118,234

Impairments

(5,295

)

At 31st March 2018

112,939

DEPRECIATION

At 1st April 2017

110,776

Charge for year

4,190

Impairments

(5,295

)

At 31st March 2018

109,671

NET BOOK VALUE

At 31st March 2018

3,268

At 31st March 2017

7,458

It is the company's policy to remove the original cost and the accumulated depreciation from the fixed assets of

all those items that were acquired more than 10 years previously.

5.	DIRECTORS LOAN

Interest at the HMRC official rate is charged to the director on the overdrawn loan account.

6.	ULTIMATE CONTROLLING PARTY

The controlling party of the company is H G Hayward by virtue of his 100% shareholding.