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Dribond Systems Limited
Registered Number:07556444
For the year ended 28 February 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 28 February 2016
Dribond Systems Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 28 February 2016
Dribond Systems Limited
Statement of Financial Position
Registered Number :
07556444
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
1,574
2,362
2
1,574
2,362
Current assets
Inventories
27,410
131,837
Trade and other receivables
230
230
3
-
Cash and cash equivalents
20,730
152,797
27,640
Trade and other payables: amounts falling due within one year
(2,728)
(7,028)
4
24,912
145,769
Net current assets
Total assets less current liabilities
147,343
27,274
Trade and other payables: amounts falling due after more than one year
(49,381)
(146,842)
5
501
Net assets/liabilities
(22,107)
Capital and reserves
Called up share capital
100
100
Retained earnings
401
(22,207)
501
(22,107)
Shareholders' funds
For the year ended 28 February 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2016 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year
and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply
with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr.Alan Wallis Director
These financial statements were approved and authorised for issue by the Board on 31 January 2017 and were signed by:
The notes form part of these financial statements
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4
For the year ended 28 February 2016
Dribond Systems Limited
Notes to the Financial Statements
Statutory Information
Dribond Systems Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 07556444.
Registered address:
2 Whiting Street
Sheffield
S8 9QR
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
25 Reducing balance
25 Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2. Property, plant and equipment
Motor vehicles
£
Cost or valuation
At 01 March 2015
4,200
At 28 February 2016
4,200
Provision for depreciation and impairment
At 01 March 2015
1,838
Charge for year
788
At 28 February 2016
2,626
At 28 February 2016
Net book value
1,574
At 28 February 2015
2,362
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5
For the year ended 28 February 2016
Dribond Systems Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2015
2016
£
£
Other debtors
230
230
4. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Bank loans and overdraft
-
1,175
Taxation and social security
6,503
1,028
Other creditors
525
525
7,028
2,728
5. Trade and other payables: amounts falling due after more than one year
2015
2016
£
£
Other creditors
146,842
49,381
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