Diemasters Limited - Period Ending 2014-10-31

Diemasters Limited (Registration number: 02752416)
Abbreviated Balance Sheet
at 31 October 2014

		Note		2014				2013
	£		£		£		£
Fixed assets
Tangible fixed assets						98,477			63,981
Current assets
Stocks				15,000				45,000
Debtors				85,256				215,290
Cash at bank and in hand				-				2,321
				100,256				262,611
Creditors: Amounts falling due within one year				(213,542)				(220,918)
Net current (liabilities)/assets						(113,286)			41,693
Total assets less current liabilities						(14,809)			105,674
Creditors: Amounts falling due after more than one year						(29,880)			(40,984)
Net (liabilities)/assets						(44,689)			64,690
Capital and reserves
Called up share capital		4		60,000				60,000
Profit and loss account				(104,689)				4,690
Shareholders' (deficit)/funds						(44,689)			64,690

For the year ending 31 October 2014 the company was entitled to exemption 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 21 July 2015

The notes on pages 3 to 4 form an integral part of these financial statements.
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Diemasters Limited (Registration number: 02752416)
Abbreviated Balance Sheet
at 31 October 2014

.........................................
Ms P Hancock
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Diemasters Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2014......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and Buildings	10% straight line basis
Plant and Machinery	10% straight line basis

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Diemasters Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2014......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2013	602,121	602,121
Additions	49,367	49,367
At 31 October 2014	651,488	651,488
Depreciation
At 1 November 2013	538,140	538,140
Charge for the year	14,871	14,871
At 31 October 2014	553,011	553,011
Net book value
At 31 October 2014	98,477	98,477
At 31 October 2013	63,981	63,981

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2014 £	2013 £

Amounts falling due within one year	13,662	13,662
Amounts falling due after more than one year	29,880	40,246
Total secured creditors	43,542	53,908

4	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary shares of £1 each		60,000	60,000		60,000	60,000

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