Company Registration No. 03962419 (England and Wales)
DOWELL ENTERPRISES (UK) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
DOWELL ENTERPRISES (UK) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DOWELL ENTERPRISES (UK) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
273,055
279,444
Current assets
Stocks
14,164
16,957
Debtors
117,631
100,312
Cash at bank and in hand
3,725
1,200
135,520
118,469
Creditors: amounts falling due within one year
(156,137)
(158,325)
Net current liabilities
(20,617)
(39,856)
Total assets less current liabilities
252,438
239,588
Creditors: amounts falling due after more than one year
3
(131,562)
(134,630)
120,876
104,958
Capital and reserves
Called up share capital
4
15,000
15,000
Revaluation reserve
69,751
69,751
Profit and loss account
36,125
20,207
Shareholders' funds
120,876
104,958
For the financial year ended 30 September 2016 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 12 April 2017
Mr R Rajdev
Director
Company Registration No. 03962419
DOWELL ENTERPRISES (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 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.
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 October 2015 & at 30 September 2016
326,192
Depreciation
At 1 October 2015
46,748
Charge for the year
6,389
At 30 September 2016
53,137
Net book value
At 30 September 2016
273,055
At 30 September 2015
279,444
DOWELL ENTERPRISES (UK) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total amounts repayable by instalments which are due in more than five years
62,452
69,168
The aggregate amount of creditors for which security has been given amounted to £97,672 (2015 - £108,276).
Other creditors represent unsecured interest free loan of £42,885 from the director, R Rajdev.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
15,000 Ordinary of £1 each
15,000
15,000