Daften Diecasting Limited - Abbreviated accounts

Registered number

00679033

Daften Diecasting Limited

Abbreviated Accounts

30 June 2016

Daften Diecasting Limited
Registered number:		00679033
Abbreviated Balance Sheet
as at 30 June 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		1,327,330			1,195,391

Current assets
Stocks		105,727			111,000
Debtors		531,387			613,196
Cash at bank and in hand		47,069			177,903
		684,183			902,099

Creditors: amounts falling due within one year		(651,563)			(739,186)

Net current assets			32,620			162,913

Total assets less current liabilities			1,359,950			1,358,304

Creditors: amounts falling due after more than one year			(184,981)			(271,996)

Provisions for liabilities			(106,715)			(111,769)


Net assets			1,068,254			974,539

Capital and reserves
Called up share capital	4		20,200			20,200
Revaluation reserve			432,715			442,470
Profit and loss account			615,339			511,869

Shareholders' funds			1,068,254			974,539

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.



G Weedon
Director
Approved by the board on 30 August 2016

Daften Diecasting Limited
Notes to the Abbreviated Accounts
for the year ended 30 June 2016

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 January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant depreciation was altered from 10% to 15% in order to better show the assets value.

	Freehold (excluding land)			2% straight line
	Plant and machinery			15% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value on a first in first out basis.

	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.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 July 2015					2,415,957
	Additions					276,844
	At 30 June 2016					2,692,801

	Depreciation
	At 1 July 2015					1,220,566
	Charge for the year					144,905
	At 30 June 2016					1,365,471

	Net book value
	At 30 June 2016					1,327,330
	At 30 June 2015					1,195,391


3	Loans					2016		2015
£							£
	Creditors include:
	Secured bank loans					311,561		393,631


4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		20,000		20,000		20,000
	Non voting Ordinary shares	1p each		20,000		200		200
						20,200		20,200