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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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David McNamee Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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for |
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David McNamee Limited |
David McNamee Limited (Registered number: 08617942) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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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 | 3 |
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David McNamee Limited |
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Company Information |
for the Year Ended 31 July 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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122 Feering Hill |
Feering |
Colchester |
Essex |
CO5 9PY |
David McNamee Limited (Registered number: 08617942) |
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Balance Sheet |
31 July 2017 |
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31.7.16 | 31.7.17 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
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Tangible assets | 4 |
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CURRENT ASSETS |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
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Amounts falling due within one year | 6 |
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) | NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
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Called up share capital |
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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 |
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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. |
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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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David McNamee Limited (Registered number: 08617942) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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David McNamee 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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This is the first year that the company has presented its results under FRS 102 section 1A. The last set of |
financial statements under UK GAAP were for the year to 31 July 2016. The date of transition to FRS 102 |
section 1A was 1 August 2016. There are no transitional adjustments arising from the first time adoption of FRS |
102 section 1A |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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David McNamee Limited (Registered number: 08617942) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Other creditors |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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At the balance sheet date the company owed the director £44,464 (2016-£27,543) in respect of their loan |
account. This loan is interest free and repayable on demand. |
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8. | GOING CONCERN |
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Attention is drawn to the fact that the financial statements have been prepared on a going concern basis. This |
may not be appropriate because at the balance sheet date the company's current liabilities exceeded its current |
assets by £9,744 and overall the company shows a deficit of £4,642. Included within creditors is a directors loan |
account of £44,464 which is part of the capital base of the company and will not be withdrawn until sufficient |
profits have been generated. |
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Should the company be unable to continue trading, adjustments would have to be made to reduce the value of |
assets to their recoverable amount, to provide for any further liabilities which might arise, and to reclassify fixed |
assets and long term liabilities as current assets and liabilities. |