Renewable Fuels Limited - Period Ending 2015-12-31

Registration number: 04585729

Renewable Fuels Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Booth Parkes & Associates Limited
Chartered Accountants
Southolme
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ

Renewable Fuels 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 Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Renewable Fuels Limited
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have complied the financial statements of Renewable Fuels Limited for the year ended 31 December 2014 which comprise of the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Renewable Fuels Limited, as a body, in accordance with the terms of our engagement letterdated 13 February 2012. Our work has been undertaken solely to prepare for your approval the accounts of Renewable Fuels Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Renewable Fuels Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Renewable Fuels Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Renewable Fuels Limited. You consider that Renewable Fuels 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 Renewable Fuels 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.

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

Booth Parkes & Associates Limited
Chartered Accountants
Southolme
Trinity Street
Gainsborough
Lincolnshire
DN21 2EQ

28 September 2015

Page 1

Renewable Fuels Limited
(Registration number: 04585729)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			3			3
Current assets
Debtors					13,468			3,187
Cash at bank and in hand					607			149
					14,075			3,336
Creditors: Amounts falling due within one year					(13,803)			(1,500)
Net current assets					272			1,836
Net assets					275			1,839
Capital and reserves
Called up share capital		3			1,656,432			1,656,432
Profit and loss account					(1,656,157)			(1,654,593)
Shareholders' funds					275			1,839

For the year ending 31 December 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 25 September 2015 and signed on its behalf by:

.........................................
Mr M I Paulson
Director

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

Renewable Fuels Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

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
Fixtures and fittings	20% reducing balance basis

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

Renewable Fuels Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		6,000			9,603			15,603
At 31 December 2014		6,000			9,603			15,603
Depreciation
At 1 January 2014		6,000			9,600			15,600
At 31 December 2014		6,000			9,600			15,600
Net book value
At 31 December 2014		-			3			3
At 31 December 2013		-			3			3

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,656,432			1,656,432			1,656,432			1,656,432

Page 4