Company Registration No. SC275655 (Scotland)
DBM (SCOTLAND) LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 MARCH 2016
DBM (SCOTLAND) LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
DBM (SCOTLAND) LIMITED
ABBREVIATED BALANCE SHEET
AS AT
29 MARCH 2016
29 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
59,499
51,188
Debtors
143,198
124,532
Cash at bank and in hand
128,693
58,092
331,390
233,812
Creditors: amounts falling due within one year
2
(280,843)
(184,222)
Total assets less current liabilities
50,547
49,590
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
50,447
49,490
Shareholders' funds
50,547
49,590
For the financial year ended 29 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 11 November 2016
Benjamin Molyneux
Director
Company Registration No. SC275655
DBM (SCOTLAND) LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 MARCH 2016
- 2 -
1
Accounting policies
1.1
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).
Although the company made a net profit in this accounting period and at the balance sheet date it had net assets, it is dependent on its invoice discounting facility to meet its financial commitments. These accounts have been prepared on a going concern basis which assumes that this facility will continue to be available to the company. The directors are confident that this will be the case for the foreseeable future.
1.2
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).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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:
Plant and machinery
15% straight line
1.5
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of DBM Holdings Limited, a company incorporated in Scotland.
2
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £4,129 (2015 - £1,436).
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Ultimate parent company
The ultimate parent undertaking is DBM Holdings Limited, which is a company registered in Scotland.