Registration number:
Unaudited Abbreviated Accounts
for the Year Ended
Funnell & Howard Limited
Contents
|
|||
|
|||
|
The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5 ) have been prepared.
Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Funnell & Howard Limited
for the Year Ended 31 October 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Funnell & Howard Limited for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) , we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/ .
This report is made solely to the Board of Directors of Funnell & Howard 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 Funnell & Howard Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Funnell & Howard Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Funnell & Howard 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 Funnell & Howard Limited. You consider that Funnell & Howard 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 Funnell & Howard 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.
......................................
MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
24 July 2017
Funnell & Howard Limited
(Registration number: 05619799)
Abbreviated Balance Sheet at 31 October 2016
Note |
2016
|
2015
|
|||||||
Fixed assets |
|||||||||
Tangible fixed assets |
|
|
|||||||
Current assets |
|||||||||
Stocks |
|
- |
|||||||
Debtors |
|
|
|||||||
Cash at bank and in hand |
|
|
|||||||
|
|
||||||||
Creditors: Amounts falling due within one year |
( |
( |
|||||||
Net current assets |
|
|
|||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: Amounts falling due after more than one year |
( |
( |
|||||||
Provisions for liabilities |
( |
( |
|||||||
Net assets |
|
|
|||||||
Capital and reserves |
|||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
Shareholders' funds |
|
|
Approved by the director on
.........................................
Mr M Funnell
Director
2
Funnell & Howard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued
Accounting policies |
Basis of preparation
Turnover
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 |
Plant and machinery |
|
Fixtures and fittings |
|
Motor vehicles |
|
Work in progress
Deferred tax
Hire purchase and leasing
Funnell & Howard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued
Financial instruments
Pensions
Provisions
Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation taking into account the risks and uncertainties surrounding the obligation.
The provision to reward and incentivise employees represents the directors best estimate of the present value of the cost to the Company due to the obligation to reward employees for services provided in the financial period. A formal decision regarding the reward amount and its form will be taken at some point after the reporting period end.
Fixed assets |
Tangible assets
|
Total
|
|||||
Cost |
||||||
At 1 November 2015 |
968,300 |
968,300 |
||||
Additions |
165,112 |
165,112 |
||||
Disposals |
(743,299) |
(743,299) |
||||
At 31 October 2016 |
390,113 |
390,113 |
||||
Depreciation |
||||||
At 1 November 2015 |
470,015 |
470,015 |
||||
Charge for the year |
66,519 |
66,519 |
||||
Eliminated on disposals |
(406,352) |
(406,352) |
||||
At 31 October 2016 |
130,182 |
130,182 |
||||
Net book value |
||||||
At 31 October 2016 |
|
|
||||
At 31 October 2015 |
|
|
Funnell & Howard Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued
Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
|||||||||||
No. |
£ |
No. |
£ |
|||||||||
|
|
|
|
|
||||||||
Related party transactions |
The director operates a loan account with the company. Included within other debtors (2015 - other creditors) as at 31 October 2016 is £298,155 (2015 - £97) owed by (2015 - owed to) Mr M Funnell. This loan is undated, unsecured and interest free.