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Registration number: 06974880

Peter Delmaine Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

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Chartered Accountants

 

Peter Delmaine Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Peter Delmaine Limited

Company Information

Directors

Mr P J Delmaine

Mrs E Delmaine

Company secretary

Mrs K Hobbs

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Peter Delmaine Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Peter Delmaine Limited for the year ended 31 March 2018 as set out on pages 3 to 7 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Peter Delmaine Limited, as a body, in accordance with the terms of our engagement letter dated 29 September 2014. Our work has been undertaken solely to prepare for your approval the accounts of Peter Delmaine Limited and state those matters that we have agreed to state to the Board of Directors of Peter Delmaine Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peter Delmaine Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Peter Delmaine 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 loss of Peter Delmaine Limited. You consider that Peter Delmaine 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 Peter Delmaine 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 statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

5 November 2018

 

Peter Delmaine Limited

(Registration number: 06974880)
Balance Sheet as at 31 March 2018

Note

2018
 

2017
 

   

£

£

£

£

Fixed assets

   

 

Tangible assets

3

 

24

 

33

Current assets

   

 

Debtors

4

129

 

364

 

Cash at bank and in hand

 

87,951

 

97,201

 

 

88,080

 

97,565

 

Creditors: Amounts falling due within one year

5

(81,623)

 

(79,904)

 

Net current assets

   

6,457

 

17,661

Net assets

   

6,481

 

17,694

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

6,381

 

17,594

 

Total equity

   

6,481

 

17,694

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 5 November 2018 and signed on its behalf by:
 


Mr P J Delmaine
Director

   
 

Peter Delmaine Limited

Notes to the Financial Statements
for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Peter Delmaine Limited

Notes to the Financial Statements
for the Year Ended 31 March 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Peter Delmaine Limited

Notes to the Financial Statements
for the Year Ended 31 March 2018

3

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2017

322

322

At 31 March 2018

322

322

Depreciation

At 1 April 2017

289

289

Charge for the year

9

9

At 31 March 2018

298

298

Carrying amount

At 31 March 2018

24

24

At 31 March 2017

33

33

4

Debtors

2018
£

2017
£

Trade debtors

129

364

129

364

5

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

81,023

79,244

Other creditors

 

600

660

 

81,623

79,904

6

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Peter Delmaine Limited

Notes to the Financial Statements
for the Year Ended 31 March 2018

7

Related party transactions

Dividends paid to directors

 

2018
£

2017
£

   

Current year interim dividend

10,000

10,000

     
         

 

Other transactions with directors

Included within other creditors are amounts owing to P J & Mrs E Delmaine, directors of the company. There is no date for repayment and no interest chargeable. At the balance sheet date the amount due to P J & Mrs E Delmaine was £81,023 (2017 - £79,244)