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Abbreviated Unaudited Accounts |
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for the Year Ended 30 June 2014 |
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for |
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Daly Plastics Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 30 June 2014 |
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for |
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Daly Plastics Limited |
Daly Plastics Limited (Registered number: 07279081) |
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Contents of the Abbreviated Accounts |
for the Year Ended 30 June 2014 |
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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 |
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Chartered Accountants' Report | 6 |
Daly Plastics Limited |
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Company Information |
for the Year Ended 30 June 2014 |
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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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Daly Plastics Limited (Registered number: 07279081) |
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Abbreviated Balance Sheet |
30 June 2014 |
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30.6.14 | 30.6.13 |
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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PROVISIONS FOR LIABILITIES |
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NET (LIABILITIES)/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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Daly Plastics Limited (Registered number: 07279081) |
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Notes to the Abbreviated Accounts |
for the Year Ended 30 June 2014 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared on the assumption that the company is a going concern.The company is |
supported by the bank by way of a loan and overdraft facility.The directors know of no reasons why this support should not be |
relied upon.For this reason the going concern basis is believed to be appropriate and the financial statements do not contain |
any adjustments that might be necessary if this support were withdrawn. |
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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 April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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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 which have originated but not reversed at the balance sheet date. |
Timing differences are differences between taxable profits and the results as stated in the financial statements which 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. |
Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding agreement to |
sell the revalued asset and the resulting gain or loss has been recognised in the financial statements. Neither is deferred tax |
recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being charged tax |
only if and when the replacement assets are sold. |
Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing differences |
are expected to reverse, based on tax rates and laws which have been enacted or substantively enacted by the balance sheet |
date. Deferred tax is measured on a non - discounted basis. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the |
lease. |
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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 the profit and loss account in the period to which they relate. |
Daly Plastics Limited (Registered number: 07279081) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 June 2014 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2013 |
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Additions |
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Disposals | ( |
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At 30 June 2014 |
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DEPRECIATION |
At 1 July 2013 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 June 2014 |
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NET BOOK VALUE |
At 30 June 2014 |
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At 30 June 2013 |
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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, issued and fully paid: |
Number: | Class: | Nominal | 30.6.14 | 30.6.13 |
value: | £ | £ |
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Ordinary | £1 |
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5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2014 and 30 June 2013: |
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30.6.14 | 30.6.13 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year | ( |
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Balance outstanding at start of year |
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( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year | ( |
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Creditors includes an amount due to the directors of £264 (2013: £Nil).This loan is unsecured, free of interest and has no fixed |
repayment terms. |
Daly Plastics Limited (Registered number: 07279081) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 30 June 2014 |
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6. | BUSINESS INTERRUPTION |
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In February 2014 the company suffered a substantial interruption to its business due to a fire at its trading premises.The fire |
resulted in the loss of plant, machinery and stock. |
No insurance proceeds have yet been received but negotiations relating to this are ongoing. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Daly Plastics Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements |
of Daly Plastics Limited for the year ended 30 June 2014 which comprise the Profit and Loss Account, the Balance Sheet and the |
related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Daly Plastics Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Daly Plastics Limited and state those matters that we have agreed to state to the Board of Directors of Daly Plastics Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Daly Plastics Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Daly Plastics Limited. You consider that Daly Plastics Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Daly Plastics Limited. For this reason, we |
have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we |
do not, therefore, express any opinion on the statutory financial statements. |
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Date: ............................................. |