Company Registration No. 04296038 (England and Wales)
DAOTEC LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
DAOTEC LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DAOTEC LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
€
€
€
€
Fixed assets
Intangible assets
2
1
1
Tangible assets
2
2
2
3
3
Current assets
Debtors
1,766,858
1,755,407
Cash at bank and in hand
326,671
228,163
2,093,529
1,983,570
Creditors: amounts falling due within one year
(1,844,954)
(1,753,540)
Net current assets
248,575
230,030
Total assets less current liabilities
248,578
230,033
Capital and reserves
Called up share capital
3
3
3
Profit and loss account
248,575
230,030
Shareholders' funds
248,578
230,033
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 20 July 2016
Peter Krapfl
Director
Company Registration No. 04296038
DAOTEC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents the net of gross sales minus directly associated costs and the final amounts are also net of VAT and trade discounts. The company acts as an agent for a majority of the transactions in which it enters, and accordingly the turnover is presented net on the face of the profit and loss account. Details of gross sales and directly attributable costs are shown in note 1.7.
1.3
Patents
Patents are valued at cost less accumulated amortisation and recorded within intangible assets.Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives of 5 years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Straight Line
Fixtures, fittings & equipment
10% Straight Line
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into euros at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
Interest is accrued as it is earned.
1.7
The gross sales for the year ending 31 December 2015 were €7,509,410 (2014: €7,161,465) and the net turnover came to €1,073,196 (2014: €1,497,071) after deducting directly attributable costs of €6,436,214 (2014: €5,664,394). 91% (2014: 94%) of the company's turnover was to markets outside the United Kingdom.
DAOTEC LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
€
€
€
Cost
At 1 January 2015 & at 31 December 2015
32,297
9,535
41,832
Depreciation
At 1 January 2015 & at 31 December 2015
32,296
9,533
41,829
Net book value
At 31 December 2015
1
2
3
At 31 December 2014
1
2
3
3
Share capital
2015
2014
€
€
Allotted, called up and fully paid
3 Ordinary shares of €1 each
3
3
The issued share capital is shown as €3 on the balance sheet, being translated at the historical rate of €1.357 : £1.