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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 JUNE 2019 |
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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 JANUARY 2018 TO 30 JUNE 2019 |
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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 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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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Fairfax House |
6a Mill Field Road |
Cottingley Business Park |
Bradford |
West Yorkshire |
BD16 1PY |
DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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BALANCE SHEET |
30 JUNE 2019 |
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30.6.19 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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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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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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BALANCE SHEET - continued |
30 JUNE 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 2019 |
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1. | STATUTORY INFORMATION |
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Dennis Price Woodworking Machinery Limited is a
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and Wales. The company's registered 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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Computer equipment | - |
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Freehold Property is maintained to a high standard year on year. Any charge for depreciation is therefore |
considered not to be material and hence no depreciation has been provided. |
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Stocks |
Stocks 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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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, 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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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2017 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 January 2018 |
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Disposals |
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At 30 June 2019 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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Eliminated on disposal |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 31 December 2017 |
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DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 2019 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2018 |
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Disposals | ( |
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At 30 June 2019 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for period |
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Eliminated on disposal | ( |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 31.12.17 |
£ | £ |
Trade debtors |
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Other debtors |
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Section 419 tax recoverable |
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Deferred tax asset |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.19 | 31.12.17 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | - | 4,580 |
Directors' current accounts | 2,519 | 76,288 |
Accrued expenses |
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The directors' loan accounts are interest free and repayable on demand. |
DENNIS PRICE WOODWORKING |
MACHINERY LIMITED (REGISTERED NUMBER: 03297046) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2018 TO 30 JUNE 2019 |
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7. | DEFERRED TAX |
£ |
Balance at 1 January 2018 | ( |
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Accelerated capital allowances | 686 |
Balance at 30 June 2019 |
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The entire provision for deferred taxation relates to accelerated capital allowances. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.19 | 31.12.17 |
value: | £ | £ |
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A Ordinary £1 shares | £1.00 | 51 | 51 |
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B Ordinary £1 shares | £1.00 | 49 | 49 |
100 | 100 |
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9. | ULTIMATE CONTROLLING PARTY |
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Mr D Price has a beneficial interest in the entire issued share capital and therefore controls the Company. |