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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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DOUBLE-TEN LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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FOR |
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DOUBLE-TEN LIMITED |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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DOUBLE-TEN LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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1 Valley Court |
Bradford |
West Yorkshire |
BD1 4SP |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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BALANCE SHEET |
31 JANUARY 2019 |
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2019 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Prepayments and accrued income |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Profit and loss account |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
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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. |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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BALANCE SHEET - continued |
31 JANUARY 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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1. | STATUTORY INFORMATION |
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Double-Ten Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of |
completion. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the |
extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 period end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Income recognition |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has |
transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
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Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of |
completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated |
contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be |
estimated reliably. |
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Finance costs of debt |
The finance costs of debt, including interest and issue costs, are allocated to each period over the term of the debt and charged |
to the profit and loss account at a constant rate on the outstanding amount. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 August 2017 |
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Additions |
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Disposals | ( |
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At 31 January 2019 |
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DEPRECIATION |
At 1 August 2017 |
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Charge for period |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 July 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by related party |
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Other debtors |
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DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 8) |
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Trade creditors |
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Amounts owed to related party | 714,344 | 342,021 |
Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2017 |
£ | £ |
Bank loans (see note 8) |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,410,707 | 1,800,000 |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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2019 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 1,410,707 | 1,800,000 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2017 |
£ | £ |
Bank loans |
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The loans are secured over the companies freehold property. |
DOUBLE-TEN LIMITED (REGISTERED NUMBER: 02722433) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 AUGUST 2017 TO 31 JANUARY 2019 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended 31 January 2019 and the year ended |
31 July 2017: |
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2019 | 2017 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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11. | RELATED PARTY DISCLOSURES |
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Mr Carl Nicholas Barnes has control over the majority of shares in the company, and together with his involvement in its |
day-to-day management is deemed to be the controlling party for the purposes of reporting standard No.102. |
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Mr Carl Nicholas Barnes is also a director of Barnes (Homes) Limited, Fortifire Solutions Limited and Firecheck Systems |
Limited. |
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Debtors includes £Nil (2017:£665,302) owed by Barnes (Homes) Limited. |
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Creditors falling due within one year includes £497,472 (2017:£291,629) owed to Fortifire Solutions Limited, £50,392 |
(2017:£50,392) owed to Firecheck Systems Limited and £166,480 (2017:£Nil) owed to Barnes Homes Limited. |
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During the period ended 31st January 2019, a management charge was paid to Barnes (Homes) Limited amounting to £90,000 |
(2017:£60,000) for direct costs and wages recharged. |