Define Data Limited
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Notes to the Accounts |
for the year ended 31 August 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes for work done during the period.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
15% book value |
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Motor Vehicles |
15% book value |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all material timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 September 2019 |
12,762 |
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19,880 |
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32,642 |
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Additions |
1,008 |
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- |
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1,008 |
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At 31 August 2020 |
13,770 |
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19,880 |
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33,650 |
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Depreciation |
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At 1 September 2019 |
11,800 |
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16,340 |
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28,140 |
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Charge for the year |
295 |
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531 |
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826 |
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At 31 August 2020 |
12,095 |
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16,871 |
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28,966 |
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Net book value |
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At 31 August 2020 |
1,675 |
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3,009 |
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4,684 |
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At 31 August 2019 |
962 |
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3,540 |
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4,502 |
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4 |
Debtors |
2020 |
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2019 |
£ |
£ |
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Other debtors |
1,396 |
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1,759 |
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5 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Bank loans and overdrafts |
284,312 |
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- |
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Trade creditors |
12,618 |
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- |
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Other creditors |
74,811 |
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96,236 |
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371,741 |
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96,236 |
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6 |
Controlling party |
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The company is under the control of Mr & Mrs C Fone, who together own 100% of the issued shares.
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7 |
Other information |
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Define Data Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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J D Gadiner & Co |
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Corby Enterprise Centre |
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London Road |
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Corby |
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NN17 5EU |