Company Registration No. 03962419 (England and Wales)
DOWELL ENTERPRISES (UK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
DOWELL ENTERPRISES (UK) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 4
DOWELL ENTERPRISES (UK) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
279,444
270,134
Current assets
Stocks
16,957
13,300
Debtors
100,312
113,333
Cash at bank and in hand
1,200
3,141
118,469
129,774
Creditors: amounts falling due within one year
3
(158,325)
(149,763)
Net current liabilities
(39,856)
(19,989)
Total assets less current liabilities
239,588
250,145
Creditors: amounts falling due after more than one year
4
(134,630)
(148,855)
104,958
101,290
Capital and reserves
Called up share capital
5
15,000
15,000
Revaluation reserve
69,751
69,751
Profit and loss account
20,207
16,539
Shareholders' funds
104,958
101,290
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 10 May 2016
Mr R Rajdev
Director
Company Registration No. 03962419
DOWELL ENTERPRISES (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
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 other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
2% p.a. on cost or revalued amount
Computer equipment
25% p.a. on reducing balance
Fixtures, fittings & equipment
15% p.a. on reducing balance
No depreciation is provided in respect of freehold land.
1.5
In accordance with FRS5 Factored debts are shown gross within trade debtors in the balance sheet and a corresponding liability in respect of the proceeds received from factors is shown within other creditors. Factoring costs are included in the profit and loss account as they accrue.
DOWELL ENTERPRISES (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 October 2014
310,042
Additions
16,150
At 30 September 2015
326,192
Depreciation
At 1 October 2014
39,908
Charge for the year
6,840
At 30 September 2015
46,748
Net book value
At 30 September 2015
279,444
At 30 September 2014
270,134
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £10,698 (2014 - £8,896).
4
Creditors: amounts falling due after more than one year
2015
2014
£
£
Analysis of loans repayable in more than five years
The aggregate amount of creditors for which security has been given amounted to £97,578 (2014 - £109,604).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
15,000 Ordinary of £1 each
15,000
15,000
6
Related party relationships and transactions
DOWELL ENTERPRISES (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
6
Related party relationships and transactions
(Continued)
- 4 -
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Loan from director
-
39,250
-
-
2,198
37,052
39,250
-
-
2,198
37,052
The above loan is unsecured and interest free.