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Company Registration No. 6726941 (England and Wales)
Davies Brothers Electrical Contractors Ltd Unaudited accounts for the year ended 31 December 2016
Davies Brothers Electrical Contractors Ltd Unaudited accounts Contents
Page
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Davies Brothers Electrical Contractors Ltd Statement of financial position as at 31 December 2016
2016 
2015 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
621 
828 
Current assets
Inventories
5
1,000 
1,000 
Debtors
6
23,868 
18,896 
24,868 
19,896 
Creditors: amounts falling due within one year
7
(24,040)
(20,162)
Net current assets/(liabilities)
828 
(266)
Total assets less current liabilities
1,449 
562 
Provisions for liabilities
Deferred tax
(125)
(166)
Net assets
1,324 
396 
Capital and reserves
Called up share capital
8
Profit and loss account
1,322 
394 
Shareholders' funds
1,324 
396 
For the year ending 31 December 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 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 September 2017.
T.J. Davies Director Company Registration No. 6726941
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Davies Brothers Electrical Contractors Ltd Notes to the Accounts for the year ended 31 December 2016
1
Statutory information
Davies Brothers Electrical Contractors Ltd is a private company, limited by shares, registered in England and Wales, registration number 6726941. The registered office and principal place of business is 12 Birch Court, Llay, Wrexham, LL12 0TY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance basis
Motor vehicles
25% Reducing balance basis
Stocks
Stocks and work-in-progress 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 expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
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Davies Brothers Electrical Contractors Ltd Notes to the Accounts for the year ended 31 December 2016
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2016
700 
5,500 
6,200 
At 31 December 2016
700 
5,500 
6,200 
Depreciation
At 1 January 2016
607 
4,765 
5,372 
Charge for the year
23 
184 
207 
At 31 December 2016
630 
4,949 
5,579 
Net book value
At 31 December 2016
70 
551 
621 
At 31 December 2015
93 
735 
828 
5
Inventories
2016 
2015 
£ 
£ 
Finished goods
1,000 
1,000 
1,000 
1,000 
6
Debtors
2016 
2015 
£ 
£ 
Trade debtors
5,566 
3,843 
Other debtors
18,302 
15,053 
23,868 
18,896 
7
Creditors: amounts falling due within one year
2016 
2015 
£ 
£ 
Bank loans and overdrafts
7,293 
4,970 
Trade creditors
4,805 
4,702 
Taxes and social security
7,139 
5,170 
Other creditors
4,803 
5,320 
24,040 
20,162 
8
Share capital
2016 
2015 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
9
Average number of employees
During the year the average number of employees was 2 (2015: 2).
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