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REGISTERED NUMBER:
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FREEDOM EPOS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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REGISTERED NUMBER:
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FREEDOM EPOS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2017 |
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FREEDOM EPOS LIMITED (REGISTERED NUMBER: 03493799) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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FREEDOM EPOS LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 March 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5 Imperial Court |
Laporte Way |
Luton |
Bedfordshire |
LU4 8FE |
FREEDOM EPOS LIMITED (REGISTERED NUMBER: 03493799) |
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STATEMENT OF FINANCIAL POSITION |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up, paid and allotted share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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FREEDOM EPOS LIMITED (REGISTERED NUMBER: 03493799) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2017 |
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1. | STATUTORY INFORMATION |
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Freedom Epos Limited is a private company, limited by shares, registered in England and Wales. The company's |
registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest £. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis, which is considered appropriate by the |
director as the company operates within its agreed banking facilities and with the support of the director. |
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Income recognition |
Income is recognised when goods/services have been delivered to customers such that risks and rewards of |
ownership have transferred to them. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated |
in the financial statements that arise from the inclusion of income and expense in tax assessments in periods |
different from those in which they are recognised in the financial statements. Unrelieved tax losses and other |
deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the |
reversal of deferred tax liabilities or other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued |
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that |
apply to the sale of the asset. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
FREEDOM EPOS LIMITED (REGISTERED NUMBER: 03493799) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2017 |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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9. | RELATED PARTY DISCLOSURES |
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The directors operate a loan account with the company. During the year additional loans in aggregate of £6,222 |
were provided to the company. |
FREEDOM EPOS LIMITED (REGISTERED NUMBER: 03493799) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2017 |
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10. | FIRST YEAR ADOPTION |
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The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
and have not impacted on equity or profit or loss. |