Abbreviated Company Accounts - FRAMING MADNESS MANUFACTURING LTD

FRAMING MADNESS MANUFACTURING LTD - Company Information

04270937 FRAMING MADNESS MANUFACTURING LTD 2014-08-31 false 2013-09-01 2014-08-31 true 04270937 2013-09-01 2014-08-31 04270937 2014-08-31 04270937 2013-08-31 04270937 uk-gaap-cd-bus:Director1 2013-09-01 2014-08-31 04270937 uk-gaap-cd-bus:Director2 2013-09-01 2014-08-31 uk-gaap-cd-bus:Director3 2013-09-01 2014-08-31 uk-gaap-cd-bus:Director3 2014-08-31 uk-gaap-cd-bus:Director3 2013-08-31 iso4217:GBP shares

Registered Number 04270937

FRAMING MADNESS MANUFACTURING LTD

Abbreviated Accounts

31 August 2014

FRAMING MADNESS MANUFACTURING LTD Registered Number 04270937

Abbreviated Balance Sheet as at 31 August 2014

	Notes	2014	2013
		£	£
Fixed assets
Intangible assets	2	2,599	5,874
Tangible assets	3	12,728	3,933
		15,327	9,807
Current assets
Stocks		20,750	27,750
Debtors		2,912	2,127
Cash at bank and in hand		57	288
		23,719	30,165
Prepayments and accrued income		380	696
Creditors: amounts falling due within one year		(35,810)	(37,372)
Net current assets (liabilities)		(11,711)	(6,511)
Total assets less current liabilities		3,616	3,296
Creditors: amounts falling due after more than one year		(7,104)	-
Accruals and deferred income		(2,526)	(2,510)
Total net assets (liabilities)		(6,014)	786
Capital and reserves
Called up share capital		2	2
Profit and loss account		(6,016)	784
Shareholders' funds		(6,014)	786

For the year ending 31 August 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 directors acknowledge their 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 Board on 27 May 2015

And signed on their behalf by:
Michael Nightingale, Director

FRAMING MADNESS MANUFACTURING LTD Registered Number 04270937

Notes to the Abbreviated Accounts for the period ended 31 August 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 15% reducing balance
Fixtures & Fittings - 15% reducing balance
Motor Vehicles - 25% reducing balance

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 10 years straight line

2Intangible fixed assets

	£
Cost
At 1 September 2013	32,749
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 August 2014	32,749
Amortisation
At 1 September 2013	26,875
Charge for the year	3,275
On disposals	-
At 31 August 2014	30,150
Net book values
At 31 August 2014	2,599
At 31 August 2013	5,874

3Tangible fixed assets

	£
Cost
At 1 September 2013	24,443
Additions	11,500
Disposals	(12,500)
Revaluations	-
Transfers	-
At 31 August 2014	23,443
Depreciation
At 1 September 2013	20,510
Charge for the year	1,625
On disposals	(11,420)
At 31 August 2014	10,715
Net book values
At 31 August 2014	12,728
At 31 August 2013	3,933

Included within the net book value of £12,728 is £10,303 (2013 - £Nil) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £1,197 (2013 - £Nil).

4Transactions with directors

Name of director receiving advance or credit:	Michael Nightingale and David Fazackerley
Description of the transaction:	Directors Loans
Balance at 1 September 2013:	£ 3,152
Advances or credits made:	£ 1,564
Advances or credits repaid:	-
Balance at 31 August 2014:	£ 4,716

No transactions with related parties were undertaken such as are required to be disclosed under FRSSE 2008.