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No description of principal activity
2019-08-01
Sage Accounts Production Advanced 2020 - FRS102_2019
15,804
15,804
3,161
3,161
12,643
xbrli:pure
xbrli:shares
iso4217:GBP
08694756
2019-08-01
2020-07-31
08694756
2020-07-31
08694756
2018-08-01
2019-07-31
08694756
2019-07-31
08694756
bus:Director1
2019-08-01
2020-07-31
08694756
core:WithinOneYear
2020-07-31
08694756
core:WithinOneYear
2019-07-31
08694756
core:AfterOneYear
2020-07-31
08694756
core:ShareCapital
2020-07-31
08694756
core:ShareCapital
2019-07-31
08694756
core:RetainedEarningsAccumulatedLosses
2020-07-31
08694756
core:RetainedEarningsAccumulatedLosses
2019-07-31
08694756
bus:SmallEntities
2019-08-01
2020-07-31
08694756
bus:AuditExemptWithAccountantsReport
2019-08-01
2020-07-31
08694756
bus:FullAccounts
2019-08-01
2020-07-31
08694756
bus:SmallCompaniesRegimeForAccounts
2019-08-01
2020-07-31
08694756
bus:PrivateLimitedCompanyLtd
2019-08-01
2020-07-31
08694756
core:OfficeEquipment
2019-08-01
2020-07-31
08694756
core:OfficeEquipment
2020-07-31
08694756
core:AfterOneYear
2019-08-01
2020-07-31
COMPANY REGISTRATION NUMBER:
08694756
Dewitt Residential Flooring Limited
|
|
Filleted Unaudited Financial Statements
|
|
Dewitt Residential Flooring Limited
|
|
Year ended 31 July 2020
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
Dewitt Residential Flooring Limited
|
|
Statement of Financial Position
|
|
31 July 2020
Fixed assets
Tangible assets
|
5
|
12,643
|
–
|
|
|
|
|
Current assets
Debtors
|
6
|
49,794
|
37,813
|
Cash at bank and in hand
|
27,052
|
17,661
|
|
--------
|
--------
|
|
76,846
|
55,474
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
59,304
|
65,624
|
|
--------
|
--------
|
Net current assets/(liabilities)
|
17,542
|
(
10,150)
|
|
--------
|
--------
|
Total assets less current liabilities
|
30,185
|
(
10,150)
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
60,740
|
–
|
|
--------
|
--------
|
Net liabilities
|
(
30,555)
|
(
10,150)
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
100
|
100
|
Profit and loss account
|
(
30,655)
|
(
10,250)
|
|
--------
|
--------
|
Shareholders deficit
|
(
30,555)
|
(
10,150)
|
|
--------
|
--------
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 July 2020 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Dewitt Residential Flooring Limited
|
|
Statement of Financial Position (continued)
|
|
31 July 2020
These financial statements were approved by the
board of directors
and authorised for issue on
16 April 2021
, and are signed on behalf of the board by:
Company registration number:
08694756
Dewitt Residential Flooring Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 July 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 High Street, Lenham, Maidstone, ME17 2QD, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, and the company relies on the ongoing support of the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment
|
-
|
20% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Government grants
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
2
).
5.
Tangible assets
|
Equipment
|
|
£
|
Cost
|
|
At 1 August 2019
|
–
|
Additions
|
15,804
|
|
--------
|
At 31 July 2020
|
15,804
|
|
--------
|
Depreciation
|
|
At 1 August 2019
|
–
|
Charge for the year
|
3,161
|
|
--------
|
At 31 July 2020
|
3,161
|
|
--------
|
Carrying amount
|
|
At 31 July 2020
|
12,643
|
|
--------
|
At 31 July 2019
|
–
|
|
--------
|
|
|
6.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
39,781
|
11,908
|
Other debtors
|
10,013
|
25,905
|
|
--------
|
--------
|
|
49,794
|
37,813
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
16,476
|
15,000
|
Trade creditors
|
13,005
|
28,550
|
Corporation tax
|
175
|
–
|
Social security and other taxes
|
27,869
|
18,744
|
Credit card
|
(
471)
|
–
|
Other creditors
|
2,250
|
3,330
|
|
--------
|
--------
|
|
59,304
|
65,624
|
|
--------
|
--------
|
|
|
|
Within creditors, there is a charge over the company's property and undertaking.
8.
Creditors:
amounts falling due after more than one year
|
2020
|
2019
|
|
£
|
£
|
Bank loans and overdrafts
|
60,740
|
–
|
|
--------
|
----
|
|
|
|
Within creditors, there is a charge over the company's property and undertaking.
9.
Director's advances, credits and guarantees
During the year, the director took advances of £23,313 and made repayments of £31,280. At the year end the director owed the company £537 (2018: £8,504). No interest was charged on this balance.
10.
Related party transactions
During the year, consultancy fees of £34,445 (2019: £7,400) were paid to the director's husband.