Finwood Designs Limited - Limited company - abbreviated - 11.9
Finwood Designs Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| Abbreviated Unaudited Accounts for the Year Ended 31 August 2015 |
| for |
| Finwood Designs Limited |
| Finwood Designs Limited (Registered number: 05549116) |
| Contents of the Abbreviated Accounts |
| for the Year Ended 31 August 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| Chartered Accountants' Report | 6 |
| Finwood Designs Limited |
| Company Information |
| for the Year Ended 31 August 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANKERS: |
| Finwood Designs Limited (Registered number: 05549116) |
| Abbreviated Balance Sheet |
| 31 August 2015 |
| 31.8.15 | 31.8.14 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| 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. |
| Finwood Designs Limited (Registered number: 05549116) |
| Abbreviated Balance Sheet - continued |
| 31 August 2015 |
| The financial statements were approved by the Board of Directors on |
| Finwood Designs Limited (Registered number: 05549116) |
| Notes to the Abbreviated Accounts |
| for the Year Ended 31 August 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). |
| 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. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all |
| timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets are only |
| recognised where it is considered more likely than not that future profits will be available for offset. Deferred tax |
| is measured on a non-discounted basis at the average tax rates that would apply in the periods in which the timing |
| differences are expected to reverse, based on the tax rates and laws that have been enacted by the balance sheet |
| date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Operating leases |
| The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, |
| unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the |
| net obligation under the lease The unwinding of the discount is disclosed within interest payable and similar |
| charges. Where no lease is in place, the rentals are charged to the profit and loss account as and when paid. |
| Finwood Designs Limited (Registered number: 05549116) |
| Notes to the Abbreviated Accounts - continued |
| for the Year Ended 31 August 2015 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 September 2014 |
| Additions |
| At 31 August 2015 |
| DEPRECIATION |
| At 1 September 2014 |
| Charge for year |
| At 31 August 2015 |
| NET BOOK VALUE |
| At 31 August 2015 |
| At 31 August 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.15 | 31.8.14 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2015 and |
| 31 August 2014: |
| 31.8.15 | 31.8.14 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| The amounts in brackets are due to the directors and the amounts without are due from directors. No interest is |
| payable on the amount outstanding which is repayable on demand.The amounts shown are the aggregate |
| transactions during the year. |
| 6. | RELATED PARTY DISCLOSURES |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Finwood Designs Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Finwood Designs Limited for the year ended 31 August 2015 which comprise the Profit and Loss |
| Account, the Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Finwood Designs Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finwood Designs Limited and state those matters that we have agreed to state to the Board of Directors of Finwood Designs Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Finwood Designs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Finwood Designs Limited. You consider that Finwood Designs Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Finwood Designs Limited. |
| For this reason, we have not verified the accuracy or completeness of the accounting records or information and |
| explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 29 January 2016 |