Dactyl Publishing Limited - Period Ending 2018-01-31
Dactyl Publishing Limited - Period Ending 2018-01-31
Registration number:
Dactyl Publishing Limited
for the Year Ended 31 January 2018
Chartered Accountants
17 Brunts St
Mansfield
Nottinghamshire
NG18 1AX
Dactyl Publishing Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Dactyl Publishing Limited
Company Information
Directors |
Mrs J Womack Mr G Murray Mr I Collins Mr K Purcell Mr N R Henderson Mr A S Womack |
Registered office |
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Accountants |
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Page 1 |
Dactyl Publishing Limited
(Registration number: 4196082)
Balance Sheet as at 31 January 2018
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2018 |
2017 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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- |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial 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.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Mr A S Womack
Director
Page 2 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
The principal place of business is:
The Sun Inn
North Wheatley
Retford
Nottinghamshire
These financial statements were authorised for issue by the
Accounting policies |
Basis of preparation
These financial statements have been prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 ('FRS 102') Section 1A Small Entities, and with the Companies Act 2006.
This is the first year in which the financial statements have been prepared under FRS 102. The transition from preparing the financial statements in accordance with FRSSE (2015) to FRS 102 (1a) has had no material impact on either the financial position or the financial performance reported by the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold property |
10% straight line basis |
Page 3 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Plant and machinery |
25% on reducing balance |
Fixtures and Fittings |
25% on reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Cash and cash equivalents
These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.
Trade debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.
Borrowings
Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 4 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 February 2017 |
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At 31 January 2018 |
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Amortisation |
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At 1 February 2017 |
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Amortisation charge |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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The aggregate amount of research and development expenditure recognised as an expense during the period is £Nil (2017 - £Nil).
Page 5 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 February 2017 |
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Additions |
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At 31 January 2018 |
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Depreciation |
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At 1 February 2017 |
- |
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Charge for the year |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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Included within the net book value of land and buildings above is £299,095 (2017 - £299,921) in respect of freehold land and buildings and £31,140 (2017 - £Nil) in respect of short leasehold land and buildings.
Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Page 6 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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- |
Creditors: amounts falling due after more than one year
Note |
2018 |
2017 |
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Due after one year |
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Loans and borrowings |
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- |
Loans and borrowings |
2018 |
2017 |
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Non-current loans and borrowings |
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Finance lease liabilities |
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- |
2018 |
2017 |
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Current loans and borrowings |
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Finance lease liabilities |
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Other borrowings |
- |
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The bank loan is secured over the property and other assets of the company, both present and future together with personal guarantees of the director.
The other loan is secured on specific plant and equipment.
Page 7 |
Dactyl Publishing Limited
Notes to the Financial Statements for the Year Ended 31 January 2018
Commitments |
At 31st January 2018 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £289,820 (2017 - £90,624).
Page 8 |