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FABRICS IN CANTERBURY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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FABRICS IN CANTERBURY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2016 |
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FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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FABRICS IN CANTERBURY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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BALANCE SHEET |
30 JUNE 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 6 |
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NET ASSETS |
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FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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BALANCE SHEET - continued |
30 JUNE 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Profit and loss account | 8 |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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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The financial statements were approved by the director on
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FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
The turnover shown in the profit and loss account represents the value of work done in the year, including |
estimates of amounts not yet invoiced and excluding value added tax. |
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Tangible fixed assets |
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Equipment & fittings | - |
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Equipment | - |
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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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Deferred tax |
Provision is made in full for all taxation deferred in respect of timing differences that have originated but not |
reversed by the balance sheet date except for timing differences arising on revaluations of fixed assets which are |
not intended to be sold and gains on disposals of fixed assets which will be rolled over into replacement assets. |
No provision is made for taxation on permanent differences. Deferred tax assets are recognised to the extent that |
it is more likely than not that they will be recovered. Deferred tax is measured using the rate of tax that is |
expected to apply in the periods in which the timing differences are expected to reverse. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the |
balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where |
material, provisions are calculated on a discounted basis. |
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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. |
FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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2. | TANGIBLE FIXED ASSETS |
Equipment |
& fittings | Equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2015 |
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Additions |
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At 30 June 2016 |
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DEPRECIATION |
At 1 July 2015 |
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Charge for year |
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At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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At 30 June 2015 |
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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Other debtors | 12,433 | 4,400 |
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Included within other debtors is an overdrawn directors current account of £8,033 which was repaid in August |
2016. |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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5. | LOANS |
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An analysis of the maturity of loans is given below: |
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2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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6. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
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FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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6. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 July 2015 |
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Decelerated capital allowances | ( |
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Balance at 30 June 2016 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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8. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1 July 2015 |
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Profit for the year |
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Dividends | ( |
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At 30 June 2016 |
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9. | CAPITAL COMMITMENTS |
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The directors have confirmed that there were no capital commitments at 30 June 2016. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 30 June 2016 and |
30 June 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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( |
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The overdrawn loan account was repaid in August 2016. |
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11. | RELATED PARTY DISCLOSURES |
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No other transactions with related parties were undertaken such as are required to be disclosed under Financial |
Reporting Standard for Smaller Entities (effective January 2015). |
FABRICS IN CANTERBURY LIMITED (REGISTERED NUMBER: 04785122) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is
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