Faulkner & Daughter Limited - Period Ending 2014-09-30

Registration number: 05833033

Faulkner & Daughter Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2014
 

A J Wheeler Limited
Chartered Certified Accountants
Unit 5 Links House
Dundas Lane
Portsmouth
Hampshire
PO3 5BL

Faulkner & Daughter Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Faulkner & Daughter Limited
for the Year Ended 30 September 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Faulkner & Daughter Limited for the year ended 30 September 2014 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Faulkner & Daughter 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 Faulkner & Daughter Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Faulkner & Daughter Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Faulkner & Daughter 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 Faulkner & Daughter Limited. You consider that Faulkner & Daughter 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 Faulkner & Daughter 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.

......................................

A J Wheeler Limited
Chartered Certified Accountants
Unit 5 Links House
Dundas Lane
Portsmouth
Hampshire
PO3 5BL

18 May 2015

Page 1

Faulkner & Daughter Limited
(Registration number: 05833033)
Abbreviated Balance Sheet at 30 September 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					515,471			520,659
Current assets
Cash at bank and in hand					493			3,762
Creditors: Amounts falling due within one year					(249,551)			(251,551)
Net current liabilities					(249,058)			(247,789)
Total assets less current liabilities					266,413			272,870
Creditors: Amounts falling due after more than one year					(261,744)			(268,644)
Net assets					4,669			4,226
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					3,669			3,226
Shareholders' funds					4,669			4,226

For the year ending 30 September 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 18 May 2015

.........................................
Mr Nicholas Alexander Faulkner FRICS
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Faulkner & Daughter Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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
Freehold property	1% on cost
Parking space	not provided

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Faulkner & Daughter Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2013		525,847			525,847
At 30 September 2014		525,847			525,847
Depreciation
At 1 October 2013		5,188			5,188
Charge for the year		5,188			5,188
At 30 September 2014		10,376			10,376
Net book value
At 30 September 2014		515,471			515,471
At 30 September 2013		520,659			520,659

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due after more than one year		-			268,644

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		261,744			268,644

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Share capital of £1 each		1,000			1,000			1,000			1,000

Page 4