DY Commercial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10510470 (England and Wales)

Unaudited Financial Statements

for the Period 5 December 2016 to 31 March 2018

for

DY Commercial Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Yates

B Yates

REGISTERED OFFICE:

304-306 Church Street

Blackpool

Lancashire

FY1 3QA

REGISTERED NUMBER:

10510470 (England and Wales)

ACCOUNTANTS:

Nathans

Chartered Certified Accountants

10 Coniston Road

Blackpool

Lancashire

FY4 2BY

FIXED ASSETS

Investment property

4

771,601

CURRENT ASSETS

Stocks

1,438,141

Debtors

157,081

Cash at bank

19,607

1,614,829

CREDITORS

Amounts falling due within one year

2,425,766

NET CURRENT LIABILITIES

(810,937

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(39,336

)

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

(39,338

)

SHAREHOLDERS' FUNDS

(39,336

)

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 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 Board of Directors on 27 July 2018 and were signed on its behalf by:

D Yates - Director

1.	STATUTORY INFORMATION

DY Commercial 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.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

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 period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

771,601

At 31 March 2018

771,601

NET BOOK VALUE

At 31 March 2018

771,601

5.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

2,156,500

Bank loans are secured on the Investment Properties.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended

31 March 2018:

£

D Yates

Balance outstanding at start of period

-

Amounts advanced

572,238

Amounts repaid

(828,759

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(256,521

)

No formal terms exist for the provision of directors' loans. No interest is payable regardless

of the balance and overdrawn balances are repayable upon demand.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Yates.