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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2020 |
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DANNY'S TATTOO SUPPLIES LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2020 |
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FOR |
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DANNY'S TATTOO SUPPLIES LIMITED |
DANNY'S TATTOO SUPPLIES LIMITED (REGISTERED NUMBER: 03272195) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DANNY'S TATTOO SUPPLIES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MAY 2020 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
The Old Drill Hall |
10 Arnot Hill Road |
Arnold |
Nottingham |
Nottinghamshire |
NG5 6LJ |
DANNY'S TATTOO SUPPLIES LIMITED (REGISTERED NUMBER: 03272195) |
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BALANCE SHEET |
31ST MAY 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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 |
(b) | 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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DANNY'S TATTOO SUPPLIES LIMITED (REGISTERED NUMBER: 03272195) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2020 |
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1. | STATUTORY INFORMATION |
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Danny's Tattoo Supplies Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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At 31 st May 2017 the company had net liabilities of £ 45,658 (2016 £ 60,292). The company is reliant on the continued support of the director. The director has confirmed his intention to support the company. |
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On the above basis, the director considers that the accounts should be prepared on a going concern basis. |
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Turnover |
Turnover represents invoiced sales of goods excluding value added tax. Turnover is recognised at the date goods are dispatched to customers, or invoice date, whichever is earlier. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Stock and work in progress |
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Stock and Work in Progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Foreign currencies |
Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the dates of the transactions. Resulting exchange rate gains and losses are taken to the profit and loss account. |
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Deferred taxation |
Deferred taxation arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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DANNY'S TATTOO SUPPLIES LIMITED (REGISTERED NUMBER: 03272195) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2020 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1st June 2019 |
and 31st May 2020 |
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DEPRECIATION |
At 1st June 2019 |
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Charge for year |
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At 31st May 2020 |
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NET BOOK VALUE |
At 31st May 2020 |
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At 31st May 2019 |
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5. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 1,950 | 1,277 |
Directors' current accounts | 65,325 | 67,098 |
Accrued expenses |
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8. | RELATED PARTY DISCLOSURES |
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The company trades from premises leased by the director and shared with another business in which he has a material interest. The company pays its share of the rent and overheads. |