Registered Number 02946825
FEONIC TECHNOLOGY LIMITED
Micro-entity Accounts
31 January 2017
Notes | 2017 | 2016 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 1 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
£ | |
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Cost | |
At 1 February 2016 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 January 2017 |
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Depreciation | |
At 1 February 2016 |
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Charge for the year |
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On disposals |
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At 31 January 2017 |
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Net book values | |
At 31 January 2017 | 633 |
At 31 January 2016 | 1,091 |
3 Accounting Policies
Basis of measurement and preparation of accounts
Going Concern
The financial statements have been prepared on the going concern basis on the presumption that continued support will be made to the company from creditors, shareholders and directors to enable the company to meets its liabilities as they fall due.
The director believes that the company will be able to generate sufficient sales that create contribution at a level that material additional funding will not be due. This expectation has been incorporated into the financial projections that have been prepared and which indicate that the company will not require any further material funding during the next 12 months.
Although the director is confident that these projections can be achieved he recognises that there is an inherent uncertainty regarding this and that if the projections are not achieved additional funding may be required in the short term The director is confident that any such funding needs can be met.
Should the going concern basis not be appropriate, adjustments would need to be made to reduce assets to their realisable amounts and top provide for any additional costs that may become payable.
Turnover policy
Tangible assets depreciation policy
Depreciation is calculated to write off the cost of each asset less its expected residual value over its expected life at the following rates
- Plant and equipment 20% on a straight line basis