Fisher & Dean Limited 31/03/2018 iXBRL

Fisher & Dean Limited 31/03/2018 iXBRL

FISHER & DEAN LIMITED - Company Information

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Company registration number: 03340533
Fisher & Dean Limited
Unaudited filleted financial statements
31 March 2018
Fisher & Dean Limited
Contents
Directors and other information
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Fisher & Dean Limited
Directors and other information
Director Mr David Dean
Secretary Mrs J L Wallace
Company number 03340533
Registered office Dunnett Farm
Webbington Road
Compton Bishop
Axbridge
BS26 2HH
Accountants Arcadia Chartered Tax Advisers & Accountants
9 Elborough Gardens
Elborough
Weston super Mare
North Somerset
BS24 8PL
Bankers NatWest Bank Plc
89 High Street
Weston super Mare
BS23 1JW
Fisher & Dean Limited
Statement of comprehensive income
Year ended 31 March 2018
2018 2017
Note £ £
Turnover 81,586 2,320,593
Cost of sales ( 7,723) ( 2,067,206)
_______ _______
Gross profit 73,863 253,387
Administrative expenses 16,488 ( 173,170)
_______ _______
Operating profit 90,351 80,217
Other interest receivable and similar income 24,853 -
Interest payable and similar expenses - ( 2,212)
_______ _______
Profit before taxation 5 115,204 78,005
Tax on profit 18,582 1,459
_______ _______
Profit for the financial year and total comprehensive income 133,786 79,464
_______ _______
All the activities of the company are from continuing operations.
Fisher & Dean Limited
Statement of financial position
31 March 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 6 - 47,220
_______ _______
- 47,220
Current assets
Stocks 131,203 445,782
Debtors 7 874,456 504,457
Cash at bank and in hand 281,891 395,331
_______ _______
1,287,550 1,345,570
Creditors: amounts falling due
within one year 8 ( 35,912) ( 243,572)
_______ _______
Net current assets 1,251,638 1,101,998
_______ _______
Total assets less current liabilities 1,251,638 1,149,218
Creditors: amounts falling due
after more than one year 9 - ( 23,901)
Provisions for liabilities - ( 7,465)
_______ _______
Net assets 1,251,638 1,117,852
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,251,628 1,117,842
_______ _______
Shareholders funds 1,251,638 1,117,852
_______ _______
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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'.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2018 , and are signed on behalf of the board by:
Mr David Dean
Director
Company registration number: 03340533
Fisher & Dean Limited
Statement of changes in equity
Year ended 31 March 2018
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2016 10 1,050,891 1,050,901
Profit for the year 79,464 79,464
_______ _______ _______
Total comprehensive income for the year - 79,464 79,464
Dividends paid and payable ( 12,513) ( 12,513)
_______ _______ _______
Total investments by and distributions to owners - ( 12,513) ( 12,513)
_______ _______ _______
At 31 March 2017 and 1 April 2017 10 1,117,842 1,117,852
Profit for the year 133,786 133,786
_______ _______ _______
Total comprehensive income for the year - 133,786 133,786
_______ _______ _______
At 31 March 2018 10 1,251,628 1,251,638
_______ _______ _______
Fisher & Dean Limited
Notes to the financial statements
Year ended 31 March 2018
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Fisher and Dean Limited, Dunnett Farm, Webbington Road, Compton Bishop, Axbridge, BS26 2HH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2017: 7 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2018 2017
£ £
Depreciation of tangible assets 26 14,025
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2017 133,169 4,042 94,706 231,917
Disposals ( 133,169) ( 3,562) ( 94,706) ( 231,437)
_______ _______ _______ _______
At 31 March 2018 - 480 - 480
_______ _______ _______ _______
Depreciation
At 1 April 2017 101,833 2,979 79,885 184,697
Disposals ( 101,833) ( 2,499) ( 79,885) ( 184,217)
_______ _______ _______ _______
At 31 March 2018 - 480 - 480
_______ _______ _______ _______
Carrying amount
At 31 March 2018 - - - -
_______ _______ _______ _______
At 31 March 2017 31,336 1,063 14,821 47,220
_______ _______ _______ _______
7. Debtors
2018 2017
£ £
Trade debtors 5,242 55,609
Other debtors 869,214 448,848
_______ _______
874,456 504,457
_______ _______
8. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 28,845 225,807
Corporation tax 4,654 -
Social security and other taxes - 11,141
Other creditors 2,413 6,624
_______ _______
35,912 243,572
_______ _______
9. Creditors: amounts falling due after more than one year
2018 2017
£ £
Other creditors - 23,901
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr David Dean ( 612) ( 1) ( 613)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr David Dean ( 612) - ( 612)
_______ _______ _______
11. Controlling party
The company is under the control of Mr D Dean.