DEE_COMMUNICATIONS_LIMITE - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Dee Communications Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dutton Green, Stanney Mill, Chester, CH2 4SA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover is recognised on either the date the goods are supplied, the date the service is completed or for the period of equipment hire.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Where fixed assets are included at a valuation an amount is transferred from revaluation reserves to profit and loss reserves equivalent to the additional depreciation on revaluation.

No depreciation is provided on freehold land and radio transmitter sites as it is the company's policy to maintain the sites to a standard where depreciation is insignificant having regard to the life of the assets. The company considers the need for an impairment review should there be a change in the company's circumstances.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The average monthly number of persons (including directors) employed by the company during the Year was 12 (2017 - 13).

Cost or valuation of Freehold and Leasehold property at 31 March 2018 is represented by:

Freehold Property

Historical cost        £32,248

Revaluation in 2002    £143,272

Total            £175,520

Leasehold Property

Historical cost        £192,035

Revaluation in 2002    £167,965

Total            £360,000

Total cost of Land and Buildings

Historical cost        £224,283

Revaluation in 2002    £311,237

Total            £535,520

If revalued assets were stated on an historical cost basis rather than a fair value basis, the total amounts included would have been as follows:

The directors consider the valuation of land and buildings on an annual basis and assess the current valuation in relation to market based information. At 31 March 2018 the directors consider that the current book value is not materially different from fair value.

The following amounts were outstanding at the reporting end date:

The company was under the control of Dee Ryan Limited throughout the current and prior year.

During the year ended 30 June 2005 the Company made a loan of £399,000 to its parent company, Dee Ryan Limited, for the purpose of buying shares in Dee Communications Limited. In addition, a loan of £3,705 was made to cover the cost of stamp duty on the purchase of the shares. In the period ended 31 October 2008, £4 was repaid following the issue of further shares in Dee Ryan Limited and during the year ended 31 October 2011, £1 was repaid by the voting of a dividend. The balance outstanding at the year end was £402,700 (31 March 2017 - £402,700).

Dee Ryan Limited is controlled by Mr A T Green.

Dee Ryan Limited own 100% of the issued share capital of Dee Communications Limited.