Registration number:
A & S Donaldson (Northern Ireland) Limited
for the Year Ended 30 September 2017
A & S Donaldson (Northern Ireland) Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
A & S Donaldson (Northern Ireland) Limited
Company Information
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Directors |
Mr R Hill Mr W Brown Mr B Marshall |
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Company secretary |
Mr B Marshall |
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Registered office |
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Solicitors |
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Bankers |
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Accountants |
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Page 1 |
A & S Donaldson (Northern Ireland) Limited
Directors' Report for the Year Ended 30 September 2017
The directors present their report and the abridged financial statements for the year ended 30 September 2017.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the sale of stationery and technology products.
Small companies provision statement
This report has 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.
Approved by the Board on
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Mr B Marshall
Company secretary and director
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Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A & S Donaldson (Northern Ireland) Limited
for the Year Ended 30 September 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & S Donaldson (Northern Ireland) Limited for the year ended 30 September 2017 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the Board of Directors of A & S Donaldson (Northern Ireland) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & S Donaldson (Northern Ireland) Limited and state those matters that we have agreed to state to the Board of Directors of A & S Donaldson (Northern Ireland) Limited, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland, as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & S Donaldson (Northern Ireland) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that A & S Donaldson (Northern Ireland) 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 profit of A & S Donaldson (Northern Ireland) Limited. You consider that A & S Donaldson (Northern Ireland) 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 A & S Donaldson (Northern Ireland) 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.
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Chartered Accountants
LISBURN
Co. Antrim
BT28 1XN
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Page 3 |
A & S Donaldson (Northern Ireland) Limited
(Registration number: NI009814)
Abridged Balance Sheet as at 30 September 2017
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Note |
2017 |
2016 |
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Tangible assets |
- |
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Other financial assets |
4,000 |
4,000 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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Page 4 |
A & S Donaldson (Northern Ireland) Limited
(Registration number: NI009814)
Abridged Balance Sheet as at 30 September 2017
For the financial year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
The company has taken advantage of the exemption under Section 444 not to file the Profit & Loss Account and Directors Report. Furthermore, all of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the Board on
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Mr R Hill
Director
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Mr W Brown
Director
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Page 5 |
A & S Donaldson (Northern Ireland) Limited
Statement of Changes in Equity for the Year Ended 30 September 2017
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 October 2016 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 30 September 2017 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 October 2015 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 30 September 2016 |
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Page 6 |
A & S Donaldson (Northern Ireland) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
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General information |
The company is a private company limited by share capital incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged 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.
Contract revenue recognition
Income from service contracts is apportioned evenly over the whole period of the contract.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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Page 7 |
A & S Donaldson (Northern Ireland) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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:
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Asset class |
Depreciation method and rate |
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Improvements to short leasehold premises |
10% straight line |
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Motor vehicles |
25% straight line |
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Fixtures and fittings |
10% straight line |
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Office equipment |
20% straight line |
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Computer equipment |
33.3% straight line |
Negative goodwill
Negative goodwill arising on an acquisition is recognised on the face of the balance sheet on the acquisition date and subsequently the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered.
Investments
Fixed asset investments are stated at their purchase cost, less ant provision for diminution in value. \investment income is included in the profit and loss account on an accruals basis.
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.
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Page 8 |
A & S Donaldson (Northern Ireland) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Page 9 |
A & S Donaldson (Northern Ireland) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
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Tangible assets |
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Total |
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Cost or valuation |
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At 1 October 2016 |
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Disposals |
( |
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At 30 September 2017 |
- |
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Depreciation |
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At 1 October 2016 |
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Charge for the year |
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Eliminated on disposal |
( |
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At 30 September 2017 |
- |
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Carrying amount |
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At 30 September 2017 |
- |
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At 30 September 2016 |
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 October 2016 |
4,000 |
4,000 |
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At 30 September 2017 |
4,000 |
4,000 |
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Impairment |
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Carrying amount |
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At 30 September 2017 |
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4,000 |
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Page 10 |
A & S Donaldson (Northern Ireland) Limited
Notes to the Abridged Financial Statements for the Year Ended 30 September 2017
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Stocks |
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2017 |
2016 |
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Finished goods and goods for resale |
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Other inventories |
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Related party transactions |
Key management personnel
The shareholders
Summary of transactions with key management
Summary of transactions with other related parties
(CocoMojo Group Limited is a private limited company, in which the directors are shareholders)
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Page 11 |