Company Registration No. 02933285 (England and Wales)
NICK DAVIS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2015
NICK DAVIS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NICK DAVIS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,262
4,350
Investments
2
142,886
139,795
146,148
144,145
Current assets
Debtors
293
470
Investments
116,296
137,839
Cash at bank and in hand
4,142
4,386
120,731
142,695
Creditors: amounts falling due within one year
(4,834)
(17,537)
Net current assets
115,897
125,158
Total assets less current liabilities
262,045
269,303
Provisions for liabilities
(483)
(663)
261,562
268,640
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
261,462
268,540
Shareholders' funds
261,562
268,640
NICK DAVIS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2015
31 July 2015
- 2 -
For the financial year ended 31 July 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 19 November 2015
N C R Davis
Director
Company Registration No. 02933285
NICK DAVIS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 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 April 2008).
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 for goods and services net of VAT and trade discounts.
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 machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
Current asset investments are stated at the lower of cost and net realisable value.
Income from investments are recognised where interest is accumulated on the investments bearing interest. For other investments, income is recognised upon maturity unless there is a permanent diminution in value.
Where interest is accrued on investments, such amounts are shown as unlisted investment additions.
1.6
Revenue recognition
Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.
Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.
1.7
Deferred taxation
Deferred tax 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.
NICK DAVIS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2015
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 August 2014
47,144
139,795
186,939
Additions
-
40,452
40,452
Disposals
-
(37,361)
(37,361)
At 31 July 2015
47,144
142,886
190,030
Depreciation
At 1 August 2014
42,794
-
42,794
Charge for the year
1,088
-
1,088
At 31 July 2015
43,882
-
43,882
Net book value
At 31 July 2015
3,262
142,886
146,148
At 31 July 2014
4,350
139,795
144,145
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100