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Company registration number:07099874
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FAIRBOURNE STEAM RAILWAY LIMITED
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ABBREVIATED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 December 2015
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FAIRBOURNE STEAM RAILWAY LIMITED |
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BALANCE SHEET |
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AS AT 31 December 2015
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2015 |
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2014 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS |
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Tangible assets |
2 |
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212,873
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209,618
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212,873
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209,618
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CURRENT ASSETS |
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Stocks |
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7,885
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6,946
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Debtors |
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3,148
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10,439
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Cash at bank and in hand |
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8,516
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9,249
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19,549
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26,634
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CREDITORS |
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Amounts falling due within one year |
(16,695) |
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(20,173) |
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NET CURRENT ASSETS |
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2,854
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6,461
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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215,727
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216,079
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Creditors falling due after one year |
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(315,234) |
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(315,484) |
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NET ASSETS |
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(99,507) |
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(99,405) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
3 |
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1
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1
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Other Reserves |
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184,666
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184,666
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Profit and loss account |
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(284,174) |
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(284,072) |
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SHAREHOLDERS FUNDS |
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(99,507) |
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(99,405) |
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For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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.......................................................................... |
M E Atkinson
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2 August 2016
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The annexed notes form part of these financial statements. |
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FAIRBOURNE STEAM RAILWAY LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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These financial statements have been prepared in accordance with the Financial Reporting Standards for Smaller Entities (effective January 2015).
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Turnover |
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The turnover shown in the Profit and Loss Account represents value recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax.
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Fixed assets |
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A full year's depreciation is charged in the year of acquisition of an asset but none in the year of disposal. Depreciation has been computed to write off the cost of fixed assets over their expected useful lives at the following rates:-
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Plant and machinery 10% straight line
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Fixtures and fittings and office equipment 25% straight line
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Stocks and work In progress |
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Stocks are valued consistently at the lower of cost (on a first in, first out basis) or net realisable value. Cost, where appropriate, includes a proportion of directly attributable overheads.
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Deferred taxation |
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Deferred tax assets and liabilities have arisen from timing differences between the recognition of gains and losses in the financial statements and their recognition in a tax computation. Full provision is made for all liabilities, and provision is made for assets to the extent that they are considered more likely than not to be recoverable in the foreseeable future. Provision is made using tax rates that are expected to apply in the periods in which the timing differences are expected to reverse based upon rates enacted at the balance sheet date.
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2. |
Tangible fixed assets |
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Total |
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Cost |
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At start of period |
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232,007
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Additions |
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6,060
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At end of period |
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238,067
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Depreciation |
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At start of period |
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22,389
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Provided during the period |
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2,805
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At end of period |
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25,194
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Net Book Value |
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At start of period |
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209,618
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At end of period |
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212,873
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3. |
Share capital |
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Allotted, issued and fully paid
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2015 |
2014 |
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£ |
£ |
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Ordinary shares of £1
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1
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1
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Total issued share capital |
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1 |
1 |
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4. |
Ultimate controlling party |
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The ultimate controlling party is the Trustees of The North Wales Coast Light Railway Limited which is a registered charity. No Trustee has ultimate control over this company.
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5. |
Ultimate holding company |
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The ultimate holding company is The North Wales Coast Light Railway Limited. |
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