Abbreviated Company Accounts - FOLCARN LIMITED

Abbreviated Company Accounts - FOLCARN LIMITED


Registered Number 02177402

FOLCARN LIMITED

Abbreviated Accounts

31 March 2015

FOLCARN LIMITED Registered Number 02177402

Abbreviated Balance Sheet as at 31 March 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 878,057 986,787
Investments 3 185,854 65,854
1,063,911 1,052,641
Current assets
Debtors 218,833 79,706
Investments 153,432 -
Cash at bank and in hand 409,757 27,972
782,022 107,678
Creditors: amounts falling due within one year 4 (290,738) (255,033)
Net current assets (liabilities) 491,284 (147,355)
Total assets less current liabilities 1,555,195 905,286
Creditors: amounts falling due after more than one year 4 (917,693) (363,896)
Provisions for liabilities (1,459) (1,165)
Total net assets (liabilities) 636,043 540,225
Capital and reserves
Called up share capital 5 100 100
Profit and loss account 635,943 540,125
Shareholders' funds 636,043 540,225
  • For the year ending 31 March 2015 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 11 December 2015

And signed on their behalf by:
Paul Coulthard, Director

FOLCARN LIMITED Registered Number 02177402

Notes to the Abbreviated Accounts for the period ended 31 March 2015

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.

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:
Freehold property - Straight line 50 years
Furniture & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Equipment - 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 April 2014 1,216,156
Additions 44,062
Disposals (157,299)
Revaluations -
Transfers -
At 31 March 2015 1,102,919
Depreciation
At 1 April 2014 229,369
Charge for the year 22,939
On disposals (27,446)
At 31 March 2015 224,862
Net book values
At 31 March 2015 878,057
At 31 March 2014 986,787

3Fixed assets Investments
Investments:
Cost @ 1 April 2014 £65,854
Additions £120,000
Disposals £0
Cost @ 31 March 2015 £185,854

Depreciation @ 1 April 2014 £0
Charge for year £0
Disposals £0
Depreciation @ 31 March 2015 £0

Net Book Value @ 31 March 2015 £185,854
Net Book Value @ 31 March 2014 £65,854

4Creditors
2015
£
2014
£
Secured Debts 954,774 382,494
5Called Up Share Capital
Allotted, called up and fully paid:
2015
£
2014
£
100 Ordinary shares of £1 each 100 100