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REGISTERED NUMBER:
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Discount Tools And Fixings Limited |
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Unaudited Financial Statements for the Year Ended 31 May 2019 |
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REGISTERED NUMBER:
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Discount Tools And Fixings Limited |
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Unaudited Financial Statements for the Year Ended 31 May 2019 |
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Discount Tools And Fixings Limited (Registered number: 10754612) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Discount Tools And Fixings Limited |
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Company Information |
for the Year Ended 31 May 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 London Road |
Rainham |
Gillingham |
Kent |
ME8 7RG |
Discount Tools And Fixings Limited (Registered number: 10754612) |
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Statement of Financial Position |
31 May 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Inventories |
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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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PROVISIONS FOR LIABILITIES | 7 |
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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: |
(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. |
Discount Tools And Fixings Limited (Registered number: 10754612) |
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Statement of Financial Position - continued |
31 May 2019 |
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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 director on
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Discount Tools And Fixings Limited (Registered number: 10754612) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2019 |
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1. | STATUTORY INFORMATION |
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Discount Tools And Fixings 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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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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Income recognition |
Income represents the fair value of consideration received or receivable derived from the provision of goods to |
customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, |
usually on the rendering of an invoice. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Inventories |
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. |
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads |
according to the stage of manufacture/completion. |
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Financial instruments |
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like |
trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
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Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement. |
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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 statement of financial position date. |
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Discount Tools And Fixings Limited (Registered number: 10754612) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of |
financial position 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 -
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 June 2018 |
and 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Taxation and social security |
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Other creditors |
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Discount Tools And Fixings Limited (Registered number: 10754612) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2019 |
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7. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 83 | - |
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Deferred |
tax |
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Charge to Statement of Comprehensive Income during year |
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Balance at 31 May 2019 |
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