Company Registration No. 08865291 (England and Wales)
DONNA DOUGLAS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2017
PAGES FOR FILING WITH REGISTRAR
DONNA DOUGLAS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
DONNA DOUGLAS LTD
BALANCE SHEET
AS AT
31 JANUARY 2017
31 January 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,901
3,457
Current assets
Debtors
4
5,334
5,334
Cash at bank and in hand
143,217
119,042
148,551
124,376
Creditors: amounts falling due within one year
5
(45,959)
(50,668)
Net current assets
102,592
73,708
Total assets less current liabilities
117,493
77,165
Provisions for liabilities
(402)
(503)
Net assets
117,091
76,662
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
116,991
76,562
Total equity
117,091
76,662
As permitted by s444(5A) of the Companies Act 2006 the director of the company have not delivered to the Registrar a copy of the Company's profit and loss account within the financial statements.
true
For the financial year ended 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime
of the Companies Act 2006.
The financial statements were approved and signed by the director and authorised for issue on 31 October 2017
Donna Hay
Director
DONNA DOUGLAS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2017
31 January 2017
- 2 -
Company Registration No. 08865291
DONNA DOUGLAS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2017
- 3 -
1
Accounting policies
Company information
Donna Douglas Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Equinox House, Clifton Park Avenue, Shipton Road, York, YO30 5PA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 January 2017
are the
first
financial statements of Donna Douglas Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 February 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
25% straight line
Fixtures, fittings & equipment
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
DONNA DOUGLAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2017
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2016 - 1).
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2016
-
4,940
4,940
Additions
15,919
199
16,118
At 31 January 2017
15,919
5,139
21,058
Depreciation and impairment
At 1 February 2016
-
1,483
1,483
Depreciation charged in the year
3,979
695
4,674
At 31 January 2017
3,979
2,178
6,157
Carrying amount
At 31 January 2017
11,940
2,961
14,901
At 31 January 2016
-
3,457
3,457
DONNA DOUGLAS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2017
- 5 -
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
5,334
5,334
Trade debtors disclosed above are measured at amortised cost.
5
Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
16,150
16,108
Other taxation and social security
4,124
3,766
Other creditors
25,685
30,794
45,959
50,668
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100