Abbreviated Company Accounts - FIRST UNIVERSAL ENTERPRISES LIMITED

FIRST UNIVERSAL ENTERPRISES LIMITED - Company Information

Registered Number 06738318

FIRST UNIVERSAL ENTERPRISES LIMITED

Abbreviated Accounts

31 March 2015

FIRST UNIVERSAL ENTERPRISES LIMITED Registered Number 06738318

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets		-	-
Tangible assets	3	20,420	19,804
Investments		-	-
		20,420	19,804
Current assets
Stocks		-	-
Debtors		22,847	35,316
Investments		-	-
Cash at bank and in hand		28,693	2,944
		51,540	38,260
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year		(92,721)	(121,647)
Net current assets (liabilities)		(41,181)	(83,387)
Total assets less current liabilities		(20,761)	(63,583)
Creditors: amounts falling due after more than one year		0	0
Provisions for liabilities		0	0
Accruals and deferred income		0	0
Total net assets (liabilities)		(20,761)	(63,583)
Reserves
Revaluation reserve		0	0
Other reserves		0	0
Income and expenditure account		(20,761)	(63,583)
Members' funds		(20,761)	(63,583)

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 31 January 2016

And signed on their behalf by:
Colin Bernard, Director

FIRST UNIVERSAL ENTERPRISES LIMITED Registered Number 06738318

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
All material incoming resources have been included on a receivable basis – i.e. they are included if the date receivable falls within the period covered by these accounts.

Tangible assets depreciation policy
Depreciation is calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets with a cost exceeding £500 over their expected useful lives on a straight line basis.

Other accounting policies
At present we do not hold reserves but it is something that the board is hoping to put in place within the next financial year.

2Company limited by guarantee
Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets

	£
Cost
At 1 April 2014	35,144
Additions	9,125
Disposals	0
Revaluations	0
Transfers	0
At 31 March 2015	44,269
Depreciation
At 1 April 2014	15,340
Charge for the year	8,509
On disposals	0
At 31 March 2015	23,849
Net book values
At 31 March 2015	20,420
At 31 March 2014	19,804

Depreciation is calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets with a cost exceeding £500 over their expected useful lives on a straight line basis.
The rates applicable are:
IT Equipment 33.33%
General equipment 15%
Vehicles 33.33%