DRAGON MOTOR SERVICES LTD

DRAGON MOTOR SERVICES LTD

DRAGON MOTOR SERVICES LTD - Company Information

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Company Registration No. 09940183 (England and Wales)
DRAGON MOTOR SERVICES LTD Unaudited accounts for the year ended 31 January 2018
DRAGON MOTOR SERVICES LTD Unaudited accounts Contents
Page
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DRAGON MOTOR SERVICES LTD Company Information for the year ended 31 January 2018
Directors
J W Williams E Williams
Company Number
09940183 (England and Wales)
Registered Office
PANT Y BUARTH DEPOT PANT Y BUARTH GWERNAFFIELD MOLD CH7 5ER UNITED KINGDOM
Accountants
D Smith FCCA Pen y Cae Cilcain Road Pantymwyn CH7 5EH
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DRAGON MOTOR SERVICES LTD Statement of financial position as at 31 January 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
24,000 
27,000 
Tangible assets
5
11,710 
15,613 
35,710 
42,613 
Current assets
Inventories
6
1,870 
1,430 
Cash at bank and in hand
1,320 
- 
3,190 
1,430 
Creditors: amounts falling due within one year
7
(49,387)
(48,293)
Net current liabilities
(46,197)
(46,863)
Net liabilities
(10,487)
(4,250)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(10,587)
(4,350)
Shareholders' funds
(10,487)
(4,250)
For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 October 2018.
E Williams Director Company Registration No. 09940183
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DRAGON MOTOR SERVICES LTD Notes to the Accounts for the year ended 31 January 2018
1
Statutory information
DRAGON MOTOR SERVICES LTD is a private company, limited by shares, registered in England and Wales, registration number 09940183. The registered office is PANT Y BUARTH DEPOT PANT Y BUARTH, GWERNAFFIELD, MOLD, CH7 5ER, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Going concern
The financial statements have been prepared on a going concern basis on the grounds that the directors expect the company to become profitable in the future.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2017
30,000 
At 31 January 2018
30,000 
Amortisation
At 1 February 2017
3,000 
Charge for the year
3,000 
At 31 January 2018
6,000 
Net book value
At 31 January 2018
24,000 
At 31 January 2017
27,000 
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DRAGON MOTOR SERVICES LTD Notes to the Accounts for the year ended 31 January 2018
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2017
17,450 
3,200 
20,650 
At 31 January 2018
17,450 
3,200 
20,650 
Depreciation
At 1 February 2017
4,237 
800 
5,037 
Charge for the year
3,303 
600 
3,903 
At 31 January 2018
7,540 
1,400 
8,940 
Net book value
At 31 January 2018
9,910 
1,800 
11,710 
At 31 January 2017
13,213 
2,400 
15,613 
6
Inventories
2018 
2017 
£ 
£ 
Raw materials
1,870 
1,430 
1,870 
1,430 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Bank loans and overdrafts
- 
741 
Trade creditors
3,090 
76 
Taxes and social security
1,636 
2,289 
Loans from directors
44,011 
44,687 
Accruals
650 
500 
49,387 
48,293 
8
Operating lease commitments
2018 
2017 
£ 
£ 
At 31 January 2018 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
6,728 
6,250 
Within two to five years
19,582 
26,310 
26,310 
32,560 
9
Average number of employees
During the year the average number of employees was 2 (2017: 2).
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