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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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DICKSON DEVELOPMENTS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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DICKSON DEVELOPMENTS LIMITED |
DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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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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DICKSON DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
24 Landport Terrace |
Portsmouth |
Hampshire |
PO1 2RG |
DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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BALANCE SHEET |
31 MARCH 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
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/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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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 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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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. |
DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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BALANCE SHEET - continued |
31 MARCH 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Dickson Developments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Income recognition |
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership |
have transferred to them. |
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Tangible fixed assets |
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Website | - |
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Motor vehicles | - |
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Computer equipment | - |
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Inventories |
Inventories have been valued at the lower of cost and estimated selling price less costs to sell. In respect of |
work in progress, cost includes a relevant proportion of overheads according to the stage of completion. |
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Financial instruments |
Debtors |
Short term debtors are measured at transaction price (which is usually the short term invoice price), less any |
impairment losses for bad and doubtful debts. |
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Loans and other financial assets are initially recognised at transaction price including any transaction costs and |
subsequently measured at amortised cost determined using the effective interest method, less any impairment |
losses for bad or doubtful debts. |
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Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). |
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Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and |
subsequently measured at amortised cost determined using the effective interest rate method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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. |
DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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 profit or loss 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 profit or loss on a straight line basis over the period of the |
lease. |
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Going concern |
These financial statements have been prepared on the basis that the company will continue to be a going |
concern. If this assumption is not considered to be valid, then adjustments would need to be made to reduce the |
value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify |
fixed assets and long term liabilities as current assets and current liabilities. |
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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 |
Motor | Computer |
Website | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2016 |
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Additions |
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Disposals |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | TANGIBLE FIXED ASSETS - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Staff loan | 6,550 | - |
Directors' current accounts | 48,772 | 11,724 |
Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation |
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Social security and other taxes |
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VAT | 12,383 | 13,029 |
Credit card | 2,118 | - |
Accruals |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Hire purchase contracts |
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DICKSON DEVELOPMENTS LIMITED (REGISTERED NUMBER: 06538482) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Hire purchase contracts | 4,915 | 8,192 |
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Amounts due under hire purchase agreements are secured upon the relevant asset. |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2017 and |
31 March 2016: |
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2017 | 2016 |
£ | £ |
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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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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £5,000 were paid to the director . |
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There existed a loan from the company to the director during the year. Interest has been charged at 3% per |
annum on the amounts outstanding on a monthly basis. At the year end the amount due from the director was |
£48,772 (31.03.16 £11,724).The loan was repaid in full after the year end. |
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11. | FIRST YEAR ADOPTION |
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These financial statements for the year ended 31 March 2017 are the first financial statements that comply with |
FRS 102 Section 1A "Small Entities". The date of transition is 1 April 2015. |
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The transition to FRS 102 Section 1A "Small Entities" has not resulted in any changes in accounting policies to |
those used previously. |
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There are no reconciling items to report in either equity or profit during the transitional period to FRS 102 section |
1A "Small Entities". |
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