|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2018 |
|
FOR |
|
316 FC LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2018 |
|
FOR |
|
316 FC LIMITED |
316 FC LIMITED (REGISTERED NUMBER: 10353356) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2018 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
316 FC LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31st August 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
1 City Road East |
Manchester |
M15 4PN |
316 FC LIMITED (REGISTERED NUMBER: 10353356) |
|
BALANCE SHEET |
31st August 2018 |
|
2018 | 2017 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 3 |
|
|
|
CREDITORS |
Amounts falling due within one year | 4 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 5 |
|
|
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
|
|
|
|
|
The director acknowledges his 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved and authorised for issue by the director on
by: |
|
|
|
|
|
|
|
316 FC LIMITED (REGISTERED NUMBER: 10353356) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2018 |
|
|
1. | STATUTORY INFORMATION |
|
316 FC Ltd is a private company, limited by shares, registered in England and Wales. The company's registered |
number is 10353356 and the registered office and principal place of business is Prestige House, Branch Road, |
Lower Darwen, Lancashire, BB3 0PQ. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
During the year the company made a loss of £7,280 (2017: £14,588). The company still has a deficit of |
shareholder funds of £21,768 (£14,488). The directors consider the going concern basis to be appropriate due |
to the support from the shareholder for atleast tweleve months from the date of these financial statements. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for |
estimated customer returns, rebates and other similar allowances. |
|
Turnover from the sale of goods is recognised when all the following conditions are satisfied: |
|
- | the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; |
- |
the Company retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold; |
- | the amount of turnover can be measured reliably; |
- | it is probable that the economic benefits associated with the transaction will flow to the company; and |
- | the costs incurred or too be incurred in respect of the transaction can be measured reliably. |
|
Specifically, turnover from the sale of goods is recognised when goods are delivered and legal title is passed. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws |
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal |
of the timing difference. |
|
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. |
316 FC LIMITED (REGISTERED NUMBER: 10353356) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2018 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
|
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank. |
|
Bank borrowings are included in creditors. |
|
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market |
rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest |
method, less any impairment. |
|
3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
|
|
|
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
5. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1.00 | 100 | 100 |
|
6. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
Included within other debtors is a loan to the shareholder of £4,938 (2017: £6,473). This loan is interest free |
and has no set repayment date. |