Freeway Resources Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 07570500 (England and Wales)

Abbreviated Accounts for the Year Ended 31 March 2015

for

Freeway Resources Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J Seymour

D H Seymour

SECRETARY:

D H Seymour

REGISTERED OFFICE:

3 Malvern View

Main Street

Bishampton

Worcestershire

WR10 2LX

REGISTERED NUMBER:

07570500 (England and Wales)

ACCOUNTANTS:

Matthew Squire (AFA) & Company

32 The Tything

Worcester

Worcestershire

WR1 1JL

FIXED ASSETS

Tangible assets

2

109

219

CURRENT ASSETS

Debtors

2,709

14,087

Cash at bank

135

1,243

2,844

15,330

CREDITORS

Amounts falling due within one year

(11,993

)

(15,110

)

NET CURRENT (LIABILITIES)/ASSETS

(9,149

)

220

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,040

)

439

PROVISIONS FOR LIABILITIES

-

(24

)

NET (LIABILITIES)/ASSETS

(9,040

)

415

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(9,140

)

315

SHAREHOLDERS' FUNDS

(9,040

)

415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 December 2015 and were signed on its behalf by:

J Seymour - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Deferred tax

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

sheet date where transactions or events have occurred at that date will result in an obligation to pay more, or a

right to pay less or to receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

628

DEPRECIATION

At 1 April 2014

409

Charge for year

110

At 31 March 2015

519

NET BOOK VALUE

At 31 March 2015

109

At 31 March 2014

219

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

100

Ordinary Shares

£1

100

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2015 and

31 March 2014:

31.3.15

31.3.14

£

£

J Seymour

Balance outstanding at start of year

4,227

-

Amounts advanced

2,709

4,227

Amounts repaid

(4,227

)

-

Balance outstanding at end of year

2,709

4,227

5.	GOING CONCERN

At the balance sheet date the company had net current liabilities of £9,040. The company is therefore dependent

on financial support of the director to enable it to continue operations. The directors and shareholders have

expressed a willingness to provide financial support to the company for the foreseeable future, and these

financial statements have therefore been prepared on the going concern basis.

.