FP_ADVANCE_LIMITED - Accounts

FP ADVANCE LIMITED - Company Information

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Company Registration No. 05374616 (England and Wales)

FP ADVANCE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

FP ADVANCE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FP ADVANCE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,954

2,971

Current assets

Debtors

68,665

166,856

Cash at bank and in hand

13,882

10,275

82,547

177,131

Creditors: amounts falling due within one year

(9,958)

(25,811)

Net current assets

72,589

151,320

Total assets less current liabilities

74,543

154,291

Capital and reserves

Called up share capital

Profit and loss account

74,541

154,289

Shareholders' funds

74,543

154,291

For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 November 2015

B A Davidson

Director

Company Registration No. 05374616

FP ADVANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33.33% straight line basis

Fixtures, fittings & equipment

25% straight line basis

1.4

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2014 & at 31 March 2015

46,188

Depreciation

At 1 April 2014

43,217

Charge for the year

1,017

At 31 March 2015

44,234

Net book value

At 31 March 2015

1,954

At 31 March 2014

2,971

FP ADVANCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

- 3 -

Share capital

2015

2014

Allotted, called up and fully paid

2 ordinary shares of £1 each

Related party relationships and transactions

Loans to directors

The loans are interest free and there are no fixed terms of repayment.

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

B A Davidson -

64,342

78,598

117,497

25,443

D L Yearsley Davidson -

64,343

78,598

117,497

25,444

128,685

157,196

234,994

50,887