For the period ended 29 February 2016
Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05646996
4 x Forty One Limited
For the period ended 29 February 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
4 x Forty One Limited
Chartered Accountants' Report
For the period ended 29 February 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of
4
x forty One Limited for the year ended
29
February
2016
from the company
'
s accounting records and
|
from information and explanations you have given us
.
|
As a practising 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 icaew
.
com
/
membershandbook
.
|
This report is made solely to the Board of Directors of Norcis Limited
,
as a body
,
in accordance with the terms of
|
our engagement letter dated
18
March
2008
.
Our work has been undertaken solely to prepare for your approval the
|
accounts of
4
x Forty One Limited and state those matters that we have agreed to state to the Board of Directors of
|
Norcis Limited
,
as a body
,
in this report in accordance with AAF
2
/
10
as detailed at icaew
.
com
/
compilation
.
To the
|
fullest extent permitted by law
,
we do not accept or assume responsibility to anyone other than
4
x Forty One
|
Limited and its Board of Directors as a body for our work or for this report
.
|
It is your duty to ensure that
4
x Forty One Limited has kept adequate accounting records to prepare statutory
|
accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of
4
x Forty One Limited
.
|
You consider that
4
x Forty One 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
4
x Forty One 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
.
|
Lofthouse & Co
36 Ropergate
Pontefract
West Yorkshire
WF8 1LY
1 of 4
Notes to the Abbreviated Financial Statements
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4 x Forty One Limited
For the period ended 29 February 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
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Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 4
Notes to the Abbreviated Financial Statements
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4 x Forty One Limited
For the period ended 29 February 2016
8,642
8,642
5,316
499
Charge for period
5,815
2,827
3,326
Allotted called up and fully paid
|
2016
2015
100
Class A shares of £
1
.
00
each
|
100
100
100
100
4 of 4