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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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DECOMO UK LIMITED |
REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2019 |
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FOR |
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DECOMO UK LIMITED |
DECOMO UK LIMITED (REGISTERED NUMBER: 03769590) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 December 2019 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DECOMO UK LIMITED |
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COMPANY INFORMATION |
for the year ended 31 December 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
DECOMO UK LIMITED (REGISTERED NUMBER: 03769590) |
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ABRIDGED BALANCE SHEET |
31 December 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 Board of Directors on
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DECOMO UK LIMITED (REGISTERED NUMBER: 03769590) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Decomo Uk Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue recognition |
Revenue is measured as the fair value of work done and goods and services provided in the normal course of |
business, net of discounts and VAT. |
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Revenue from construction contracts is recognised in accordance with the company's accounting policy on |
construction contracts (see below). |
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Work in progress |
Work in progress and finished goods - cost of direct materials and labour plus attributable overheads based on a |
normal level of activity. |
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Construction contracts |
On uncompleted contracts, revenue and work in progress are measured at prime cost plus overheads and a |
prudent proportion of the estimated profit attributable to the work carried out to date. The earliest point at which |
profit has been taken is that at which the outcome of the contract, based on an assessment by officials of the |
company, can be reliably foreseen taking into account the circumstances of each contract. Full provision is made |
for any losses to completion but no account is taken for claims receivable until agreed. |
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The company considers that the recognition of profit on construction contracts represents the key source of |
estimation uncertainty. This is due to the process whereby applications are made during the course of the contract |
with variations often being agreed as part of the final account negotiation. |
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Tangible fixed assets |
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Plant and machinery | - |
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Financial instruments |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised |
at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured |
at the present value of the future receipts discounted at a market rate of interest. |
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Such assets are subsequently carried at amortised cost using the effective interest method. |
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Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group Companies |
and preference shares that are classified as debt, are initially recognised at transaction price, unless the |
arrangements constitutes a financing transaction, where the debt instrument is measured at the present value of |
the future receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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DECOMO UK LIMITED (REGISTERED NUMBER: 03769590) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising |
from impairment are recognised in the profit and loss account. |
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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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4. | AUDITORS' REMUNERATION |
2019 | 2018 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's
financial statements |
6,100 |
6,000 |
DECOMO UK LIMITED (REGISTERED NUMBER: 03769590) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 December 2019 |
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5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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7. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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8. | AUDITOR LIABILITY LIMITATION AGREEMENT |
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The company has entered into a liability limitation agreement with Raffingers, the statutory auditors, in respect |
of the statutory audit for the year ended 31 December 2019. The proportionate liability agreement follows the |
standard terms in Appendix B to the Financial Reporting Council's June 2008 Guidance on Auditor Liability |
Agreements, and was approved by the directors. |
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9. | ULTIMATE PARENT COMPANY |
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The company is a wholly owned subsidiary of Decomo SA and its ultimate parent company is Lievair NV, both |
companies are incorporated in Belgium. |