T P Dibdin Limited - Accounts to registrar (filleted) - small 18.2
T P Dibdin Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2018 |
| for |
| T P Dibdin Limited |
| T P Dibdin Limited (Registered number: 03045345) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| T P Dibdin Limited |
| Company Information |
| for the Year Ended 31 March 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| T P Dibdin Limited (Registered number: 03045345) |
| Balance Sheet |
| 31 March 2018 |
| 31.3.18 | 31.3.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| T P Dibdin Limited (Registered number: 03045345) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2018 |
| 1. | STATUTORY INFORMATION |
| T P Dibdin Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the |
| nearest pound. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These |
| policies have been consistently applied to all years presented unless otherwise stated. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
| added tax and other sales taxes. |
| The policies adopted for the recognition of turnover are as follows: |
| Sale of goods |
| Turnover from the sale of scrap metal is recognised at the point of sale. |
| Rendering of services |
| Turnover from refurbishment work is recognised by reference to the stage of completion at the balance sheet date. |
| Rentals receivable |
| Turnover from rental income is recognised by reference to the date to which the income relates. |
| Tangible fixed assets |
| Plant and machinery | - |
| Motor vehicles | - |
| Cost includes costs directly attributable to making the assets capable of operating as intended. |
| Stocks |
| Stock and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost |
| includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and |
| condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
| 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. |
| T P Dibdin Limited (Registered number: 03045345) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactions |
| price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Motor | Computer |
| machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2017 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2018 |
| DEPRECIATION |
| At 1 April 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2018 |
| NET BOOK VALUE |
| At 31 March 2018 |
| At 31 March 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| T P Dibdin Limited (Registered number: 03045345) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Bank loans |
| The bank has a legal charge over property in respect of the loan and overdraft facilities. |
| 9. | CONTINGENT LIABILITIES |
| The T P Dibdin Limited Group Pension Fund is currently under investigation by HMRC and the FCA. Depending on the |
| outcome of the investigation, it is possible that T P Dibin Limited may be liable for penalties and charges. At the current |
| date, the amount and date of these potential liabilities is not known, and they have therefore not been provided for in these |
| accounts. |
| 10. | RELATED PARTY DISCLOSURES |
| The accounts include the following transactions with related parties: |
| 31.3.18 | 31.3.17 |
| £ | £ |
| Sales | 357,049 | 842,604 |
| Purchases | 46,500 | 259,091 |
| Loan interest payable | 28,491 | 32,191 |
| Trade debtors | 306,573 | 1,228,000 |
| Bad debt provision | 2,635,282 |
| Other debtors | 1,917,249 | 4,614,184 |
| Trade creditors | 2,125 | 4,205 |
| Other creditors | 3,371,370 | 4,281,273 |
| 11. | GOING CONCERN |
| The company has net liabilities of £747,875 at 31 March 2018. The financial statements have been prepared on a going |
| concern basis as £1,802,670 is owed to related parties who have confirmed that they will continue to support the company |
| for the foreseeable future. |