Registered Number 05478154

DRYWALL SOLUTIONS UK LIMITED

Abbreviated Accounts

31 March 2016

DRYWALL SOLUTIONS UK LIMITED Registered Number 05478154

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 59,236 54,967
59,236 54,967
Current assets
Stocks - 445,352
Debtors 1,357,046 955,887
Cash at bank and in hand 1,794,335 667,211
3,151,381 2,068,450
Creditors: amounts falling due within one year (2,501,653 ) (1,765,217 )
Net current assets (liabilities) 649,728 303,233
Total assets less current liabilities 708,964 358,200
Total net assets (liabilities) 708,964 358,200
Capital and reserves
Called up share capital 3 2 2
Profit and loss account 708,962 358,198
Shareholders' funds 708,964 358,200

  • For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 November 2016

And signed on their behalf by:
E Meola, Director

DRYWALL SOLUTIONS UK LIMITED Registered Number 05478154

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1 Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
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 & Fittings - 25% straight line
Motor Vehicles - 25% straight line

Other accounting policies
Operating lease agreements

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.

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.

2 Tangible fixed assets
£
Cost
At 1 April 2015 93,807
Additions 34,608
Disposals -
Revaluations -
Transfers -
At 31 March 2016 128,415
Depreciation
At 1 April 2015 38,840
Charge for the year 30,339
On disposals -
At 31 March 2016 69,179
Net book values
At 31 March 2016 59,236
At 31 March 2015 54,967
3 Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
2 Ordinary shares of £1 each 2 2