Franchise Consultants Liimited - Period Ending 2015-09-30

Registration number: 08676848

Franchise Consultants Liimited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015
 

Easterbrook Eaton Limited
  Chartered Accountants
  Cosmopolitan House
  Old Fore Street
  Sidmouth
  Devon
  EX10 8LS

Franchise Consultants Liimited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Franchise Consultants Liimited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Franchise Consultants Liimited for the year ended 30 September 2015 set out on pages 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 Franchise Consultants Liimited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Franchise Consultants Liimited and state those matters that we have agreed to state to them, 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 Franchise Consultants Liimited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Franchise Consultants Liimited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Franchise Consultants Liimited. You consider that Franchise Consultants Liimited 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 accounts of Franchise Consultants Liimited. 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 accounts.

............................................................

Easterbrook Eaton Limited
  Chartered Accountants
  Cosmopolitan House
  Old Fore Street
  Sidmouth
  Devon
  EX10 8LS

26 April 2016

Page 1

Franchise Consultants Liimited
(Registration number: 08676848)
Abbreviated Balance Sheet at 30 September 2015

		Note			30 September 2015 £			30 September 2014 £
Fixed assets
Tangible fixed assets					4,493			2,147
Current assets
Stocks					9,553			5,896
Debtors					2,190			3,017
Cash at bank and in hand					12,597			7,689
					24,340			16,602
Creditors: Amounts falling due within one year					(33,907)			(24,541)
Net current liabilities					(9,567)			(7,939)
Net liabilities					(5,074)			(5,792)
Capital and reserves
Called up share capital		3			20			20
Profit and loss account					(5,094)			(5,812)
Shareholders' deficit					(5,074)			(5,792)

For the year ending 30 September 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 26 April 2016 and signed on its behalf by:

.........................................
Mr Gordon Charles Blood
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Franchise Consultants Liimited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis given the support of the Directors and Shareholders.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% reducing balance method
Office equipment	30% reducing balance method
Website Development Costs	20% reducing balance method

Research and development

Research and development expenditure is written off as incurred.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Franchise Consultants Liimited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		2,386			2,386
Additions		3,580			3,580
At 30 September 2015		5,966			5,966
Depreciation
At 1 October 2014		239			239
Charge for the year		1,234			1,234
At 30 September 2015		1,473			1,473
Net book value
At 30 September 2015		4,493			4,493
At 30 September 2014		2,147			2,147

3	Share capital

Allotted, called up and fully paid shares

	30 September 2015						30 September 2014
		No.			£			No.			£
Ordinary Shares of £0.01 each		2,000			20			2,000			20

Page 4