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Abbreviated Unaudited Accounts |
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for the Year Ended 31 July 2016 |
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for |
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Diesel & Marine Engineering Services Ltd |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 July 2016 |
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for |
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Diesel & Marine Engineering Services Ltd |
Diesel & Marine Engineering Services Ltd (Registered number: 05509277) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
Diesel & Marine Engineering Services Ltd |
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Company Information |
for the Year Ended 31 July 2016 |
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DIRECTORS: |
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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 Accountants & Business Advisers |
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Diesel & Marine Engineering Services Ltd (Registered number: 05509277) |
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Abbreviated Balance Sheet |
31 July 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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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 | 3 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
3 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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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. |
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The financial statements were approved by the Board of Directors on
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Diesel & Marine Engineering Services Ltd (Registered number: 05509277) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 July 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. Revenue is |
recognised on the accruals basis to the period to which it relates. |
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Tangible fixed assets |
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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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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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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date where transactions or events that result in an obligation to pay more or less tax in the future |
have occurred at the balance sheet date. Timing differences are differences between the company's taxable |
profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax |
assessments in periods different from those in which they are recognised in the financial statements. |
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A net deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all |
available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from |
which the future reversal of the underlying timing differences can be deducted. |
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Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted or substantially |
enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Diesel & Marine Engineering Services Ltd (Registered number: 05509277) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 July 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 August 2015 |
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Additions |
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Disposals | ( |
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At 31 July 2016 |
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DEPRECIATION |
At 1 August 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 July 2016 |
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NET BOOK VALUE |
At 31 July 2016 |
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At 31 July 2015 | 28,472 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the period, Mr & Mrs S W Taylor, director's of the company, had drawings and expenses paid by the |
business of £59,978 (2015: £34,965). They also introduced capital and paid business expenses of £41,331 |
(2015: £45,240). At the year end, the balance owing by Mr & Mrs S W Taylor to the company was £16,679 |
(2015: £1,968 owing to Mr & Mrs S W Taylor) this amount is included within other debtors |
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A total of £Nil (2015: £7,500) was paid to the Directors by way of dividends from the company. |