Abbreviated Company Accounts - FREE BRANDS LIMITED
Abbreviated Company Accounts - FREE BRANDS LIMITED
Registered Number 07602301
FREE BRANDS LIMITED
Abbreviated Accounts
30 June 2015
FREE BRANDS LIMITED Registered Number 07602301
Abbreviated Balance Sheet as at 30 June 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
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
And signed on their behalf by:
FREE BRANDS LIMITED Registered Number 07602301
Notes to the Abbreviated Accounts for the period ended 30 June 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Office equipment 33.33% straight line
Other accounting policies
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
Leasing commitments
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
£ | |
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Cost | |
At 1 July 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 June 2015 |
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Depreciation | |
At 1 July 2014 |
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Charge for the year |
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On disposals |
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At 30 June 2015 |
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Net book values | |
At 30 June 2015 | 0 |
At 30 June 2014 | 239 |