Demolition Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01505049 (England and Wales)

DEMOLITION SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Wray

SECRETARY:

A Wray

REGISTERED OFFICE:

DSL House

Wortley Moor Road

Wortley

LEEDS

West Yorkshire

LS12 4JE

REGISTERED NUMBER:

01505049 (England and Wales)

ACCOUNTANTS:

HAIGH HUDSON

Chartered Certified Accountants

New Connexion House

2 Marsh Lane

Shepley

HUDDERSFIELD

West Yorkshire

HD8 8AE

FIXED ASSETS

Tangible assets

4

1,360,572

1,332,360

CURRENT ASSETS

Stocks

434,868

481,077

Debtors

5

1,121,001

2,054,323

Cash at bank and in hand

157,506

275,826

1,713,375

2,811,226

CREDITORS

Amounts falling due within one year

6

2,035,808

3,375,639

NET CURRENT LIABILITIES

(322,433

)

(564,413

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,038,139

767,947

CREDITORS

Amounts falling due after more than one year

7

(381,526

)

(278,828

)

PROVISIONS FOR LIABILITIES

(171,008

)

(159,715

)

NET ASSETS

485,605

329,404

CAPITAL AND RESERVES

Called up share capital

40,000

40,000

Retained earnings

445,605

289,404

SHAREHOLDERS' FUNDS

485,605

329,404

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

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

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 10 October 2018 and were signed by:

A Wray - Director

1.	STATUTORY INFORMATION

Demolition Services 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.

Tangible fixed assets

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

Plant and Machinery

-

15% on reducing balance

Fixtures and Fittings

-

15% on reducing balance

Motor Vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

Machinery

Fittings

Vehicles

Totals

£

£

£

£

£

COST

At 1 June 2017

111,500

1,468,777

15,862

94,784

1,690,923

Additions

-

718,676

-

77,090

795,766

Disposals

-

(807,835

)

-

-

(807,835

)

At 31 May 2018

111,500

1,379,618

15,862

171,874

1,678,854

DEPRECIATION

At 1 June 2017

-

310,228

9,426

38,909

358,563

Charge for year

-

128,423

951

24,124

153,498

Eliminated on disposal

-

(193,779

)

-

-

(193,779

)

At 31 May 2018

-

244,872

10,377

63,033

318,282

NET BOOK VALUE

At 31 May 2018

111,500

1,134,746

5,485

108,841

1,360,572

At 31 May 2017

111,500

1,158,549

6,436

55,875

1,332,360

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade Debtors

688,990

1,604,208

Other Debtors

-

102,967

Prepayments

432,011

347,148

1,121,001

2,054,323

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

72,496

76,455

Hire purchase contracts

429,384

377,999

Trade Creditors

1,293,079

2,693,031

Corporation Tax

26,698

5,738

Social Security and Other Taxes

9,835

8,682

VAT

98,127

75,258

Other Creditors

96,561

18,279

Accrued Expenses

9,628

120,197

2,035,808

3,375,639

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

381,526

278,828

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

810,910

656,827

The bank overdraft is secured by a debenture giving a fixed and floating charge over the assets of the company.