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2017.03.01
D.S.L. GAS FIX LTD
10340353
2018-09-01
2019-08-31
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FILLETED FINANCIAL STATEMENTS
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YEAR ENDED 31 AUGUST 2019
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Company Registration Number - 10340353 |
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KP SIMPSON |
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Certified Public Accountants |
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1. |
D.S.L. GAS FIX LTD
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COMPANY NUMBER - 10340353
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Balance sheet as at
31 August 2019
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Notes |
£ |
£ |
£ |
£ |
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FIXED ASSETS
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Tangible assets |
4 |
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14,908
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22,838
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Current assets
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Debtors |
5 |
2,488
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5,867
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Cash at bank and in hand |
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2,438
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18,607
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4,926
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24,474
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Current liabilities
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Creditors - Amounts |
falling due within one year |
6 |
7,496
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15,119
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NET CURRENT (LIABILITIES) ASSETS
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(2,570) |
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9,355
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Total assets less current liabilities
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12,338
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32,193
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Creditors - Amounts falling |
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due after more than one year |
6 |
9,940
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13,239
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Provisions for liabilities
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Deferred taxation |
7 |
2,397 |
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3,808 |
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(12,337) |
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(17,047) |
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Net assets
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1
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15,146
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2. |
D.S.L. GAS FIX LTD
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COMPANY NUMBER - 10340353
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Balance sheet as at
31 August 2019
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CAPITAL AND RESERVES
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Called up share capital |
8 |
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1
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1
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Profit and Loss account |
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- |
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15,145 |
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Shareholders' funds
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1
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15,146
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These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.
For the financial year ended 31 August 2019, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Approved by the board of directors on21 January 2020
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and signed on their behalf by: |
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DAVID LAW
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The notes on pages 3 to 5 form an integral part of these accounts.
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3. |
D.S.L. GAS FIX LTD
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Notes to the Financial Statements
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For the year ended 31 August 2019
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1. General Information
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D.S.L. GAS FIX LTD is a Private Company, limited by shares, domiciled in England and Wales, registration number 10340353.
The company's registered office is 3 RONALD GARDENS, HEBBURN, UNITED KINGDOM, NE31 2TL.
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2. Accounting policies
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Basis of accounting
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Tangible fixed assets and depreciation
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery - 33% straight line
Motor vehicles - 25% reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The average number of persons employed by the company (including directors) during the year was 1 (2018 - 1).
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4. |
D.S.L. GAS FIX LTD
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Notes to the Financial Statements
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For the year ended 31 August 2019
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4. Fixed assets - tangible
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Plant and |
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Machinery |
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etc. |
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Fair value
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£
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At 1 September 2018 |
35,818 |
and 31 August 2019 |
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Depreciation
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At 1 September 2018 |
12,980 |
Charge for year |
7,930 |
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At 31 August 2019 |
20,910 |
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Net book values
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At 31 August 2019 |
14,908 |
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At 1 September 2018 |
22,838 |
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2019 |
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2018 |
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£ |
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£ |
5. Debtors
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Due within one year: |
Trade debtors |
603
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618
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Other debtors |
1,885 |
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5,249 |
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2,488
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5,867
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Included in other debtors is an overdrawn current account in respect of DAVID LAW. The liability under the loan at the beginning and end of the year respectively was £5249 and £1885. The maximum amount of the loan outstanding during the year was £5249.
6. Creditors
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Amounts falling due within one year: |
Trade creditors |
2,128
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-
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Obligations under finance leases |
4,114
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4,114
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Taxation and social security |
414
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10,165
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Other creditors |
840
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840
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7,496 |
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15,119 |
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Amounts falling due after one year: |
Hire purchase liabilities |
9,940
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13,239
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The hire purchase liabilities are secured by the vehicle.
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5. |
D.S.L. GAS FIX LTD
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Notes to the Financial Statements
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For the year ended 31 August 2019
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2019 |
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2018 |
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£ |
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£ |
7. Deferred taxation
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At 1 September 2018 |
3,808 |
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3,808 |
Credited to profit and loss account |
(1,411) |
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(1,644) |
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At 31 August 2019 |
2,397 |
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2,164 |
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Deferred taxation has been fully provided in respect of: |
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Accelerated capital allowances |
12,614 |
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20,040 |
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8. Called up share capital
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There was no change in share capital during the year.
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Allotted, called up and fully paid |
shares of £1 eachOrdinary
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1 |
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1 |
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9. Related party transactions
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10. Control
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DAVID LAW, a director, controls the company by virtue of a majority shareholding.