Abbreviated Company Accounts - FURNESS BROS LTD

Registered Number 09095068

FURNESS BROS LTD

Abbreviated Accounts

30 June 2015

FURNESS BROS LTD Registered Number 09095068

Abbreviated Balance Sheet as at 30 June 2015

	Notes	2015
		£
Fixed assets
Intangible assets	2	88,000
Tangible assets	3	13,675
		101,675
Current assets
Debtors		153,772
Cash at bank and in hand		20,486
		174,258
Creditors: amounts falling due within one year		(186,895)
Net current assets (liabilities)		(12,637)
Total assets less current liabilities		89,038
Provisions for liabilities		(2,735)
Total net assets (liabilities)		86,303
Capital and reserves
Called up share capital		100
Profit and loss account		86,203
Shareholders' funds		86,303

For the year ending 30 June 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 4 March 2016

And signed on their behalf by:
Alan Charles Furness, Director

FURNESS BROS LTD Registered Number 09095068

Notes to the Abbreviated Accounts for the period ended 30 June 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
Turnover represents the net amounts charged to customers

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives on the following basis:

Plant & Machinery 20% Straight Line
Computer Equipment 20% Straight Line

Intangible assets amortisation policy
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 5 years.

2Intangible fixed assets

	£
Cost
Additions	110,000
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	110,000
Amortisation
Charge for the year	22,000
On disposals	-
At 30 June 2015	22,000
Net book values
At 30 June 2015	88,000

3Tangible fixed assets

	£
Cost
Additions	17,094
Disposals	-
Revaluations	-
Transfers	-
At 30 June 2015	17,094
Depreciation
Charge for the year	3,419
On disposals	-
At 30 June 2015	3,419
Net book values
At 30 June 2015	13,675