Dream Agencies (Bolton) Limited - Period Ending 2018-03-31
Dream Agencies (Bolton) Limited - Period Ending 2018-03-31
Registration number:
Dream Agencies (Bolton) Limited
for the Year Ended 31 March 2018
32 - 36 Chorley New Road
Bolton
Lancashire
BL1 4AP
Dream Agencies (Bolton) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Dream Agencies (Bolton) Limited
Company Information
Directors |
Lillian Ranicar Mr Peter Ranicar |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Dream Agencies (Bolton) Limited
for the Year Ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dream Agencies (Bolton) Limited for the year ended 31 March 2018 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Dream Agencies (Bolton) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dream Agencies (Bolton) Limited and state those matters that we have agreed to state to the Board of Directors of Dream Agencies (Bolton) Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dream Agencies (Bolton) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Dream Agencies (Bolton) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Dream Agencies (Bolton) Limited. You consider that Dream Agencies (Bolton) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Dream Agencies (Bolton) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Bolton
Lancashire
BL1 4AP
Page 2 |
Dream Agencies (Bolton) Limited
(Registration number: 05751000)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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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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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 March 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.
Page 3 |
Dream Agencies (Bolton) Limited
(Registration number: 05751000)
Balance Sheet as at 31 March 2018 (continued)
Approved and authorised by the
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Director
.........................................
Director
Page 4 |
Dream Agencies (Bolton) Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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.
Page 5 |
Dream Agencies (Bolton) Limited
Notes to the Financial Statements for the Year Ended 31 March 2018 (continued)
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, Fittings & Equipment |
15% Reducing Balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Page 6 |
Dream Agencies (Bolton) Limited
Notes to the Financial Statements for the Year Ended 31 March 2018 (continued)
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Page 7 |
Dream Agencies (Bolton) Limited
Notes to the Financial Statements for the Year Ended 31 March 2018 (continued)
Loans and borrowings |
2018 |
2017 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Dividends |
2018 |
2017 |
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£ |
£ |
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Interim dividend of £ |
10,000 |
10,000 |
Page 8 |