Davlyn Properties (Wigan) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00898324 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2018

FOR

DAVLYN PROPERTIES (WIGAN) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J C Hilton

SECRETARY:

Mrs E J Hilton

REGISTERED OFFICE:

The Cottage

52/54 Finch Lane

Appley Bridge

Wigan

Lancashire

WN6 9DT

REGISTERED NUMBER:

00898324 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

72,707

57,939

CURRENT ASSETS

Stocks

2,000

17,000

Debtors

5

626,216

845,868

Cash at bank

1,006,536

693,011

1,634,752

1,555,879

CREDITORS

Amounts falling due within one year

6

400,021

552,272

NET CURRENT ASSETS

1,234,731

1,003,607

TOTAL ASSETS LESS CURRENT LIABILITIES

1,307,438

1,061,546

PROVISIONS FOR LIABILITIES

7

13,814

11,587

NET ASSETS

1,293,624

1,049,959

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,293,524

1,049,859

SHAREHOLDERS' FUNDS

1,293,624

1,049,959

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19 December 2018 and were signed by:

D J C Hilton - Director

1.	STATUTORY INFORMATION

Davlyn Properties (Wigan) Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents the value of all services provided during the year,

exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its

contractual obligations.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan

accounts, trade creditors and accruals.

Financial instruments that are payable or receivable within one year, typically Directors' loan accounts, trade

creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the

cash or other consideration that is expected to be paid or received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2017

9,800

11,917

144,733

6,709

173,159

Additions

-

-

31,005

-

31,005

At 31 July 2018

9,800

11,917

175,738

6,709

204,164

DEPRECIATION

At 1 August 2017

7,231

11,096

90,184

6,709

115,220

Charge for year

514

123

15,600

-

16,237

At 31 July 2018

7,745

11,219

105,784

6,709

131,457

NET BOOK VALUE

At 31 July 2018

2,055

698

69,954

-

72,707

At 31 July 2017

2,569

821

54,549

-

57,939

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

606,904

784,207

Other debtors

7,500

49,975

Prepayments and accrued income

11,812

11,686

626,216

845,868

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

198,838

341,765

Tax

73,324

27,833

Social security and other taxes

9,803

20,233

VAT

30,615

73,472

Other creditors

4,942

19,006

Directors' current accounts

24,999

5,963

Accruals and deferred income

57,500

64,000

400,021

552,272

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

13,814

11,587

Deferred

tax

£

Balance at 1 August 2017

11,587

Movement during the year

2,227

Balance at 31 July 2018

13,814

8.	ULTIMATE CONTROLLING PARTY

The controlling party is D J C Hilton.