Darlaston_Printers_Limited_30_Apr_2018_companies_house_set_of_accounts.html
Darlaston_Printers_Limited_30_Apr_2018_companies_house_set_of_accounts.html
Company registration number:
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Darlaston Printers Limited for the year ended 30 April 2018
Year ended 30 April 2018
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Darlaston Printers Limited for the year ended 30 April 2018 which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Darlaston Printers Limited , as a body, in accordance with the terms of my engagement letter dated 1 November 2017. My work has been undertaken solely to prepare for your approval the financial statements of Darlaston Printers Limited and state those matters that I have agreed to state to the Board of Directors of Darlaston Printers Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Darlaston Printers Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that Darlaston Printers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Darlaston Printers Limited . You consider that Darlaston Printers Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants and Business Advisors
25/27 Station Street
Cheslyn Hay
Walsall
West Midlands
WS6 7ED
United Kingdom
Cheslyn Hay
Walsall
West Midlands
WS6 7ED
United Kingdom
Date:
7 November 2018
Statement of Financial Position
| 2018 | 2017 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 5 |
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| Current assets | |||||
| Stocks |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: amounts falling due within one year | 7 |
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| Net current liabilities |
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| Total assets less current liabilities | (26,248 | ) | (7,053 | ) | |
| Capital and reserves | |||||
| Called up share capital |
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| Profit and loss account |
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| Shareholders deficit |
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For the year ending 30 April 2018 , 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 year in question in accordance with section 476; The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 7 November 2018 , and are signed on behalf of the board by:
| Director |
Company registration number:
01307994
Notes to the Financial Statements
Year ended 30 April 2018
1 General information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Unit 6, Morgan Close , Ashmore Lake Way , Willenhall , West Midlands , WV12 4LH , United Kingdom.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The financial statements are prepared in sterling, which is the functional currency of the company.
Going concern
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Tangible assets
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
| Land and buildings | |
| Plant and machinery | |
| Fixtures and fittings | |
| Motor vehicles |
Impairment
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.
Stocks
Stocks are measured 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 the stocks to their present location and condition.
Financial instruments
4 Average number of employees
The average number of persons employed by the company during the year was 5 (2017: 5 ).
5 Tangible assets
| Land and buildings | Plant and machinery etc. | Total | ||||
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| £ | £ | £ | ||||
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| Carrying amount | ||||||
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| At 30 April 2017 |
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6 Debtors
| 2018 | 2017 | |||
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| £ | £ | |||
| Trade debtors |
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| Other debtors |
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7 Creditors: amounts falling due within one year
| 2018 | 2017 | |||
|---|---|---|---|---|
| £ | £ | |||
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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