Company Registration No. 02587041 (England and Wales)
CHARLES DARTMOUTH LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
CHARLES DARTMOUTH LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
CHARLES DARTMOUTH LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,147,602
4,134,353
Current assets
Debtors
82,658
113,232
Cash at bank and in hand
208
127,013
82,866
240,245
Creditors: amounts falling due within one year
3
(2,239,885)
(550,602)
Net current liabilities
(2,157,019)
(310,357)
Total assets less current liabilities
1,990,583
3,823,996
Creditors: amounts falling due after more than one year
4
(8,358)
(1,869,172)
Provisions for liabilities
(4,153)
-
1,978,072
1,954,824
Capital and reserves
Called up share capital
5
110,000
110,000
Revaluation reserve
1,527,503
1,527,503
Profit and loss account
340,569
317,321
Shareholders' funds
1,978,072
1,954,824
CHARLES DARTMOUTH LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 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 for issue on 27 September 2016
C J Dartmouth
Director
Company Registration No. 02587041
CHARLES DARTMOUTH LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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 amounts receivable from ordinary activities net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets include investment properties valued on an existing use open market value basis. Other tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
nil
Fixtures, fittings & equipment
20% Reducing balance
Motor vehicles
25% Reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
CHARLES DARTMOUTH LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 January 2015
4,187,073
Additions
19,994
At 31 December 2015
4,207,067
Depreciation
At 1 January 2015
52,720
Charge for the year
6,745
At 31 December 2015
59,465
Net book value
At 31 December 2015
4,147,602
At 31 December 2014
4,134,353
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £1,888,670 (2014 - £66,978).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £8,358 (2014 - £1,869,172).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
110,000 Ordinary shares of £1 each
110,000
110,000
6
Related party relationships and transactions
Other transactions
The director Charles Dartmouth has provided an interest free loan to the company, the balance outstanding at the year end is £152,107 (2014: £246,831 as restated).
During the year the company sold materials to Dartmouth Building Services Ltd, a company in which the director M Dartmouth was also a director to 15 November 2015 and a shareholder. The total of sales in the period to 15 November 2015 is £305,971. The company also sold materials to Threepennybit Developments Ltd a company in which the director C Dartmouth is also a director. The total of sales in the year are £2,888.