Danem Services Ltd Filleted accounts for Companies House (small and micro)

DANEM SERVICES LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06347074

Danem Services Ltd

Filleted Unaudited Financial Statements

30 December 2017

Danem Services Ltd

Statement of Financial Position

30 December 2017

	30 Dec 17		31 Dec 16
Note	£	£	£

Fixed assets

Tangible assets	4		187	374

Current assets

Cash at bank and in hand	48,432		19,120

Creditors: amounts falling due within one year	5	57,019		54,488
		--------		--------
Net current liabilities			8,587	35,368
			-------	--------
Total assets less current liabilities			( 8,400)	( 34,994)
			-------	--------
Net liabilities			( 8,400)	( 34,994)
			-------	--------

Capital and reserves

Called up share capital	1,100	1,100
Profit and loss account	( 9,500)	( 36,094)
	-------	--------
Shareholders deficit	( 8,400)	( 34,994)
	-------	--------

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'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 30 December 2017 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 period in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 November 2018 , and are signed on behalf of the board by:

Mrs J Horgan
Director

Company registration number: 06347074

Danem Services Ltd

Notes to the Financial Statements

Period from 1 January 2017 to 30 December 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Oakley House, Tetbury Road, Cirencester, Glos, GL7 1US.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

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.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2017 and 30 December 2017	3,546	3,546
	-------	-------
Depreciation
At 1 January 2017	3,172	3,172
Charge for the period	187	187
	-------	-------
At 30 December 2017	3,359	3,359
	-------	-------
Carrying amount
At 30 December 2017	187	187
	-------	-------
At 31 December 2016	374	374
	-------	-------

5. Creditors: amounts falling due within one year

	30 Dec 17	31 Dec 16
	£	£
Corporation tax	1,475	–
Other creditors	55,544	54,488
	--------	--------
	57,019	54,488
	--------	--------

6. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	30 Dec 17
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J Horgan	( 54,488)	474	( 54,014)
	--------	----	--------

	31 Dec 16
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs J Horgan	( 54,014)	( 474)	( 54,488)
	--------	----	--------