Diemasters Limited - Period Ending 2015-10-31

Diemasters Limited (Registration number: 02752416)
Abbreviated Balance Sheet
at 31 October 2015

		Note		2015				2014
	£		£		£		£
Fixed assets
Tangible fixed assets						85,344			98,477
Current assets
Stocks				25,000				15,000
Debtors				129,427				85,256
				154,427				100,256
Creditors: Amounts falling due within one year				(221,034)				(213,542)
Net current liabilities						(66,607)			(113,286)
Total assets less current liabilities						18,737			(14,809)
Creditors: Amounts falling due after more than one year						(20,195)			(29,880)
Net liabilities						(1,458)			(44,689)
Capital and reserves
Called up share capital		4		60,000				60,000
Profit and loss account				(61,458)				(104,689)
Shareholders' deficit						(1,458)			(44,689)

For the year ending 31 October 2015 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 22 July 2016

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Diemasters Limited (Registration number: 02752416)
Abbreviated Balance Sheet
at 31 October 2015

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

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Diemasters Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2015......... 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).

Going concern

The company balance sheet shows a net liability position of £1,458 (2014: £44,689) as at 31st October 2015. However, the director considers the going concern basis appropriate due to the continued financial support the company receives from the director and the finance agreed with the company's other creditors.

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
Leasehold 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.

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.

Page 3

Diemasters Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 October 2015......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2014	651,488	651,488
Additions	1,058	1,058
At 31 October 2015	652,546	652,546
Depreciation
At 1 November 2014	553,011	553,011
Charge for the year	14,191	14,191
At 31 October 2015	567,202	567,202
Net book value
At 31 October 2015	85,344	85,344
At 31 October 2014	98,477	98,477

Creditors

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

	2015 £	2014 £

Amounts falling due within one year	11,662	13,662
Amounts falling due after more than one year	20,195	29,880
Total secured creditors	31,857	43,542

4	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary shares of £1 each		60,000	60,000		60,000	60,000

Page 4