The Flat Company Limited - Limited company - abbreviated - 11.9
The Flat Company Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts |
| for the Year Ended 31 May 2015 |
| for |
| The Flat Company Limited |
| The Flat Company Limited (Registered number: SC207631) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 May 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| The Flat Company Limited |
| Company Information |
| for the Year Ended 31 May 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Flat Company Limited (Registered number: SC207631) |
| Abbreviated Balance Sheet |
| 31 May 2015 |
| 31.5.15 | 31.5.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 Flat Company Limited (Registered number: SC207631) |
| Abbreviated Balance Sheet - continued |
| 31 May 2015 |
| The financial statements were approved by the Board of Directors on by: |
| W Walters - Director | D Zank - Director |
| C Robertson - Director |
| The Flat Company Limited (Registered number: SC207631) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 May 2015 |
| 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). |
| Exemption from preparing a cash flow statement |
| Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
| small company. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts |
| where turnover is recognised when the company obtains the right to consideration. |
| Goodwill |
| Acquired goodwill is written off in equal annual instalments at a rate of 5% per annum over its estimated useful |
| economic life of 20 years. |
| Intangible fixed assets |
| Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off |
| the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is |
| only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Tangible fixed assets |
| Imprvmts to prop | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Deferred tax |
| Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
| different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
| timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates |
| that are expected to apply when the timing differences reverse, based on current tax rates and laws. |
| Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
| commitment to sell the asset. |
| Deferred tax assets and liabilities are not discounted. |
| Hire purchase and leasing commitments |
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with |
| the lessor are charged against profit on a straight line basis over the lease term. |
| Assets that are held under finance leases and hire purchase contracts are capitalised and depreciated over their |
| useful lives. The corresponding lease or higher purchase obligations are treated in the balance sheet as a liability. |
| The interest element of rental obligations is charged to the profit and loss account over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| Fixed asset investments |
| Fixed asset investments are stated at cost and no depreciation is provided on them. Provision for diminution in |
| value is made only when the directors are of the opinion that there is a permanent diminution in the value of the |
| investment. |
| The Flat Company Limited (Registered number: SC207631) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2015 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2014 |
| and 31 May 2015 |
| AMORTISATION |
| At 1 June 2014 |
| Amortisation for year |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2014 |
| Additions |
| At 31 May 2015 |
| DEPRECIATION |
| At 1 June 2014 |
| Charge for year |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 | 2,580 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 June 2014 |
| and 31 May 2015 | 89,545 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| The Flat Company Limited (Registered number: SC207631) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 May 2015 |
| 5. | CREDITORS |
| Creditors include an amount of £ |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
| value: | £ | £ |
| Ordinary | £1 |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 May 2015 and |
| 31 May 2014: |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |