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REGISTERED NUMBER:
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DEPENDABLE SPRINGS & PRESSINGS LIMITED |
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Unaudited Financial Statements for the Year Ended 31 July 2019 |
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DRAFT |
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REGISTERED NUMBER:
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DEPENDABLE SPRINGS & PRESSINGS LIMITED |
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Unaudited Financial Statements for the Year Ended 31 July 2019 |
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DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2019 |
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DRAFT |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
DEPENDABLE SPRINGS & PRESSINGS LIMITED |
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Company Information |
for the Year Ended 31 July 2019 |
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DRAFT |
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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Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Balance Sheet |
31 July 2019 |
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31.7.19 | 31.7.18 |
Notes | £ | £ | £ | £ |
DRAFT |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Other reserves |
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Retained earnings |
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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. |
DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Balance Sheet - continued |
31 July 2019 |
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DRAFT |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2019 |
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DRAFT |
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1. | STATUTORY INFORMATION |
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Dependable Springs & Pressings Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is recognised when goods are physically delivered to the customer. |
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Tangible fixed assets |
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Freehold property | - |
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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 |
Stock and work in progress are valued at the lower of cost and net realisable value, after making allowance for |
obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised and amortised at cost, except for investments in non-convertible |
preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in |
profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with |
changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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2. | ACCOUNTING POLICIES - continued |
DRAFT |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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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 profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 August 2018 |
and 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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4. | TANGIBLE FIXED ASSETS - continued |
DRAFT |
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Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 August 2018 |
and 31 July 2019 |
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DEPRECIATION |
At 1 August 2018 |
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Charge for year |
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At 31 July 2019 |
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NET BOOK VALUE |
At 31 July 2019 |
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At 31 July 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.19 | 31.7.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.19 | 31.7.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Other trade creditors |
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Directors' current accounts | 179,365 | 147,239 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.19 | 31.7.18 |
value: | £ | £ |
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Ordinary | £1 | 1,152 | 1,152 |
DEPENDABLE SPRINGS & PRESSINGS LIMITED (REGISTERED NUMBER: 00332847) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2019 |
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DRAFT |
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8. | RELATED PARTY DISCLOSURES |
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At the balance sheet date the company owed the director G.W. Turner £179,365 (2018 £147,239). The |
movement of £32,126 is accounted for by capital introduced of £32,000 plus use of home as office of £400 less |
personal expenses of £274. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Dependable Springs & Pressings Limited |
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DRAFT |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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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 Dependable Springs & Pressings Limited for the year ended 31 July 2019 which comprise the |
Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Dependable Springs & Pressings 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 Dependable Springs & Pressings Limited and state those matters that we have agreed to state to the Board of Directors of Dependable Springs & Pressings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dependable Springs & Pressings Limited 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 Dependable Springs & Pressings 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 Dependable Springs & Pressings Limited. You consider that Dependable Springs & Pressings 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 Dependable Springs & Pressings 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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Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
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