DALESMAN (NEWCASTLE) LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
Company Registration No. 02096726 (England and Wales)
DALESMAN (NEWCASTLE) LIMITED
COMPANY INFORMATION
Directors
Mr I T Rhodes
Mrs C Rhodes
Mr J L Rhodes
Secretary
Mrs A L Patterson
Company number
02096726
Registered office
Dalesman House
Chase Way
Bradford
BD5 8HW
Accountants
Naylor Wintersgill Limited
Carlton House
Grammar School Street
Bradford
BD1 4NS
Business address
Dalesman House
Unit 7, New York Way
New York Industrial Parl
Newcastle upon Tyne
NE27 0QF
Bankers
Natwest Bank plc
7 Hustlergate
Bradford
BD1 1PP
DALESMAN (NEWCASTLE) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
DALESMAN (NEWCASTLE) LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
150,127
160,520
Current assets
Stocks
128,188
143,898
Debtors
766,764
721,208
Cash at bank and in hand
9,412
14,081
904,364
879,187
Creditors: amounts falling due within one year
(221,180)
(228,525)
Net current assets
683,184
650,662
Total assets less current liabilities
833,311
811,182
Creditors: amounts falling due after more than one year
(22,691)
(33,897)
Provisions for liabilities
(18,137)
(21,602)
792,483
755,683
Capital and reserves
Called up share capital
3
197,500
197,500
Share premium account
5,000
5,000
Other reserves
28,000
28,000
Profit and loss account
561,983
525,183
Shareholders' funds
792,483
755,683
DALESMAN (NEWCASTLE) LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 25 February 2016
Mr I T Rhodes
Director
Company Registration No. 02096726
DALESMAN (NEWCASTLE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents the invoiced amount of goods sold and services provided (stated net of VAT).
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and equipment
10% per annum (straight line)
Fixtures, fittings & equipment
10% per annum (straight line)
Motor vehicles
25% per annum (reducing balance)
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
DALESMAN (NEWCASTLE) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2014
462,610
Additions
39,224
Disposals
(18,975)
At 31 May 2015
482,859
Depreciation
At 1 June 2014
302,090
On disposals
(12,471)
Charge for the year
43,113
At 31 May 2015
332,732
Net book value
At 31 May 2015
150,127
At 31 May 2014
160,520
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100,000 Ordinary shares of £1 each
100,000
100,000
97,500 'A' Ordinary shares of £1 each
97,500
97,500
197,500
197,500
Both the Ordinary and the 'A' Ordinary shares rank pari passu in all respects.
The company also has redeemable preference shares of which 12,500 are allotted, called up and fully paid and 50,000 are authorised. These shares are recognised as a financial liability under FRS25.