Period from 1 September 2017 to
Registration number:
A. & C. Dunkley (Boscombe) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
A. & C. Dunkley (Boscombe) Limited
Company Information
Director |
S A M Dunkley |
Registered office |
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Accountants |
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Page 1 |
A. & C. Dunkley (Boscombe) Limited
Balance Sheet
28 February 2019
Note |
2019 |
2017 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Stocks |
- |
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Debtors |
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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 liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
- |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
( |
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Total equity |
( |
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Page 2 |
A. & C. Dunkley (Boscombe) Limited
Balance Sheet
28 February 2019
For the financial period ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 01184368
Page 3 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
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.
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Page 4 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
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 on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet 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.
Under FRS102 the valuation of the freehold land and buildings at transition date has now been treated as deemed cost.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Fixtures and fittings |
2 years straight line/ 25% reducing balance |
Motor vehicles |
25% reducing balance |
Office equipment |
3 years straight line |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Page 5 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Page 6 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 September 2017 |
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Additions |
- |
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- |
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Disposals |
( |
( |
( |
( |
At 28 February 2019 |
- |
- |
- |
- |
Depreciation |
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At 1 September 2017 |
- |
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Eliminated on disposal |
- |
( |
( |
( |
At 28 February 2019 |
- |
- |
- |
- |
Carrying amount |
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At 28 February 2019 |
- |
- |
- |
- |
At 31 August 2017 |
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Under FRS102 Section 35.10(d) the company had opted to use the valuation at the date of transition as deemed cost.
Included within the net book value of land and buildings above is £Nil (2017 - £859,192) in respect of freehold land and buildings.
Stocks |
28 February 2019 |
31 August 2017 |
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Other inventories |
- |
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Page 7 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
Debtors |
28 February 2019 |
31 August 2017 |
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Trade debtors |
- |
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Other debtors |
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Prepayments |
- |
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Creditors |
Note |
28 February 2019 |
31 August 2017 |
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Due within one year |
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Loans and borrowings |
- |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Loans and borrowings |
28 February 2019 |
31 August 2017 |
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Loans and borrowings due after one year |
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Other borrowings |
- |
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28 February 2019 |
31 August 2017 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Other borrowings |
- |
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- |
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Page 8 |
A. & C. Dunkley (Boscombe) Limited
Notes to the Financial Statements
Period from 1 September 2017 to 28 February 2019
Reserves |
Included in the profit and loss reserves is £nil (2017: £613,674) of non-distributable reserves.
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £Nil
(2017 - £
Related party transactions |
Summary of transactions with other related parties
(a director and his children are three of the beneficiaries of the Trust)
At the balance sheet date the amount due to A Dunkley Trust was £85,709 (2017 - £85,709).
Page 9 |