Registered number
06887853
Display Mode Limited
Abbreviated Accounts
31 March 2013
Display Mode Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Display Mode Limited for the year ended 31 March 2013
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Display Mode Limited for the year ended 31 March 2013 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of Display Mode Limited, as a body, in accordance with the terms of our engagement letter dated 29 July 2010. Our work has been undertaken solely to prepare for your approval the accounts of Display Mode Limited and state those matters that we have agreed to state to the Board of Directors of Display Mode Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Display Mode Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Display Mode Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Display Mode Limited. You consider that Display Mode Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Display Mode Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.
Jon Essam & Co Ltd
Chartered Accountants
23 Cottingham Way
Thrapston
Kettering
Northants
NN14 4PL
30 September 2013
Display Mode Limited
Registered number: 06887853
Abbreviated Balance Sheet
as at 31 March 2013
Notes 2013 2012
£ £
Fixed assets
Intangible assets 2 10,591 7,821
Tangible assets 3 526,776 360,851
537,367 368,672
Current assets
Stocks 147,690 67,093
Debtors 471,208 235,493
Cash at bank and in hand 206,202 109,319
825,100 411,905
Creditors: amounts falling due within one year (516,736) (269,742)
Net current assets 308,364 142,163
Total assets less current liabilities 845,731 510,835
Creditors: amounts falling due after more than one year (139,603) (147,470)
Provisions for liabilities (30,283) (12,938)
Net assets 675,845 350,427
Capital and reserves
Called up share capital 5 2 2
Profit and loss account 675,843 350,425
Shareholders' funds 675,845 350,427
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mrs H McCallum
Director
Approved by the board on 30 September 2013
Display Mode Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2013
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of display stands provided to retail customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% reducing balance
Motor vehicles 25% reducing balance
Land and buildings Not depreciated
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Intangible fixed assets £
Cost
At 1 April 2012 8,693
Additions 3,159
At 31 March 2013 11,852
Amortisation
At 1 April 2012 872
Provided during the year 389
At 31 March 2013 1,261
Net book value
At 31 March 2013 10,591
At 31 March 2012 7,821
3 Tangible fixed assets £
Cost
At 1 April 2012 389,837
Additions 200,184
At 31 March 2013 590,021
Depreciation
At 1 April 2012 28,986
Charge for the year 34,259
At 31 March 2013 63,245
Net book value
At 31 March 2013 526,776
At 31 March 2012 360,851
4 Loans 2013 2012
£ £
Creditors include:
Amounts falling due for payment after more than five years 153,703 161,570
Secured bank loans 153,703 161,570
5 Share capital Nominal 2013 2013 2012
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2 2 2
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