Company Registration No. 06468156 (England and Wales)
DAVIES & DAVIES ASSOCIATES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
DAVIES & DAVIES ASSOCIATES LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
DAVIES & DAVIES ASSOCIATES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DAVIES & DAVIES ASSOCIATES LIMITED FOR THE YEAR ENDED 31 JANUARY 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Davies & Davies Associates Limited for the year ended 31 January 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Davies & Davies Associates Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Davies & Davies Associates Limited and state those matters that we have agreed to state to the Board of Directors of Davies & Davies Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Davies & Davies Associates Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Davies & Davies Associates 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 profit of Davies & Davies Associates Limited. You consider that Davies & Davies Associates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Davies & Davies Associates 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.
9 September 2016
Ellacotts LLP
Countrywide House
Chartered Accountants
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
DAVIES & DAVIES ASSOCIATES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
19,604
8,797
Current assets
Debtors
11,450
31,765
Cash at bank and in hand
20,384
2,996
31,834
34,761
Creditors: amounts falling due within one year
(50,494)
(6,805)
Net current liabilities/(assets)
(18,660)
27,956
Total assets less current liabilities
944
36,753
Capital and reserves
Called up share capital
3
120
120
Profit and loss account
824
36,633
Shareholders' funds
944
36,753
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 8 September 2016
Mr N J Davies
Director
Company Registration No. 06468156
DAVIES & DAVIES ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
1
Accounting policies
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).
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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:
Fixtures, fittings & equipment
25% & 33% reducing balance
Motor vehicles
25% reducing balance
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
DAVIES & DAVIES ASSOCIATES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 February 2015
37,920
53,557
91,477
Additions
-
18,081
18,081
At 31 January 2016
37,920
71,638
109,558
Depreciation
At 1 February 2015
37,920
44,760
82,680
Charge for the year
-
7,274
7,274
At 31 January 2016
37,920
52,034
89,954
Net book value
At 31 January 2016
-
19,604
19,604
At 31 January 2015
-
8,797
8,797
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary shares of £1 each
100
100
20 ordinary 'A' shares of £1 each
20
20
120
120
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