Registered Number 09564277
99 DRY CLEANERS AND LAUNDERERS LIMITED
Abbreviated Accounts
31 August 2016
Notes | 2016 | ||
---|---|---|---|
£ | |||
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
|
|||
Current assets | |||
Debtors |
|
||
Cash at bank and in hand |
|
||
|
|||
Creditors: amounts falling due within one year |
( |
||
Net current assets (liabilities) |
( |
||
Total assets less current liabilities |
|
||
Total net assets (liabilities) |
|
||
Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
|
||
Shareholders' funds |
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
All fixed assets are initially recorded at cost.
Depreciation
Depreciation 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:
Fixtures and fittings : 15% on reducing balance.
Motor Vehicles : 20% on reducing balance.
Intangible assets amortisation policy
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary, subject to the constraint that the revised life shall not exceed 20 years from the date of acquisition. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life
Other accounting policies
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
£ | |
---|---|
Cost | |
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 August 2016 |
|
Amortisation | |
Charge for the year |
|
On disposals |
|
At 31 August 2016 |
|
Net book values | |
At 31 August 2016 | 1 |
£ | |
---|---|
Cost | |
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 August 2016 |
|
Depreciation | |
Charge for the year |
|
On disposals |
|
At 31 August 2016 |
|
Net book values | |
At 31 August 2016 | 65,947 |
5 Transactions with directors
Name of director receiving advance or credit: |
|
|
---|---|---|
Description of the transaction: |
|
|
Balance at 28 April 2015: | - | |
Advances or credits made: | £ |
|
Advances or credits repaid: |
|
|
Balance at 31 August 2016: | £ |