Registered number
03687918
D C Cook Ltd
Abbreviated Accounts
31 December 2016
D C Cook Ltd
Registered number: 03687918
Balance Sheet
as at 31 December 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 4,962 5,424
Current assets
Debtors 3 1,395 65
Cash at bank and in hand 316 670
1,711 735
Creditors: amounts falling due within one year 4 (8,556) (7,237)
Net current liabilities (6,845) (6,502)
Net liabilities (1,883) (1,078)
Capital and reserves
Called up share capital 2 2
Profit and loss account (1,885) (1,080)
Shareholder's funds (1,883) (1,078)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Broadbent
Director
Approved by the board on 25 September 2017
D C Cook Ltd
Notes to the Accounts
for the year ended 31 December 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc Fixtures, fittings, equipment Total
£ £ £
Cost
At 1 January 2016 8,346 1,573 9,919
Additions - 779 779
At 31 December 2016 8,346 2,352 10,698
Depreciation
At 1 January 2016 4,103 392 4,495
Charge for the year 849 392 1,241
At 31 December 2016 4,952 784 5,736
Net book value
At 31 December 2016 3,394 1,568 4,962
At 31 December 2015 4,243 1,181 5,424
3 Debtors 2016 2015
£ £
Trade debtors 1,395 65
4 Creditors: amounts falling due within one year 2016 2015
£ £
Trade creditors - 122
Directors loan account 7,700 6,515
Corporation tax 411 -
Accruals 445 600
8,556 7,237
5 Other information
D C Cook Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Davidson House
East Common Lane
Scunthorpe
North Lincolnshire
DN16 1DD
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