FDB Leasing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06976010 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

FDB LEASING LIMITED

PREVIOUSLY KNOWN AS

GOGGLEWASH LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr N A Durham

REGISTERED OFFICE:

Cleveland

Parkstone Drive

Camberley

Surrey

GU15 2PA

REGISTERED NUMBER:

06976010 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Chartered Accountants & Tax Advisors

11, Leadenhall Street

Fifth Floor

London

EC3V 1LP

CURRENT ASSETS

Stocks

5

-

5,614

Debtors

6

60,254

34,674

Cash at bank

7,963

-

68,217

40,288

CREDITORS

Amounts falling due within one year

7

66,210

37,201

NET CURRENT ASSETS

2,007

3,087

TOTAL ASSETS LESS CURRENT LIABILITIES

2,007

3,087

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

9

1,007

2,087

SHAREHOLDERS' FUNDS

2,007

3,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 20 September 2019 and were signed by:

Mr N A Durham - Director

1.	STATUTORY INFORMATION

FDB Leasing Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting

estimates. It also requires management to exercise judgment in applying the Company accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, management were not required to make any estimates or judgments which

materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially

at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method, less any impairment.

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method.

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of

not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months

from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of

change in value.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there

is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest method

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. Financial assets classified as receivable within one

year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are

classified as debt, 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 payment discounted at a

market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Accounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or

less. If not, they are presented as non-current liabilities. Accounts payable greater than one year are recognised

initially at transaction price and subsequently measured at amortised cost using the effective interest

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, 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 statement of financial position date.

GOING CONCERN

The director consider it appropriate for the accounts to be prepared on a going concern basis which assumes that

the company will continue in operational existence in the foreseeable future. The director is confident that the

company will be able to maintain profitability in the future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 1 ).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

Cost

At 1 October 2017

and 30 September 2018

4,820

Depreciation

At 1 October 2017

and 30 September 2018

4,820

Net book value

At 30 September 2018

-

At 30 September 2017

-

5.

STOCKS

2018

2017

£

£

Stocks

-

5,614

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

2,437

-

Other debtors

55,890

21,872

Directors' current accounts

-

4,778

VAT

1,927

8,024

60,254

34,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

8,573

Trade creditors

21,441

-

Tax

8,496

505

Other creditors

3,356

9,523

Directors' current accounts

4,667

-

Accrued expenses

28,250

18,600

66,210

37,201

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1,000

Ordinary

1

1,000

1,000

9.

RESERVES

Retained

earnings

£

At 1 October 2017

2,087

Profit for the year

33,920

Dividends

(35,000

)

At 30 September 2018

1,007