Flamsafe Limited - Period Ending 2015-10-31

Registration number: 07423369

Flamsafe Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Flamsafe Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Flamsafe Limited
(Registration number: 07423369)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					49,274			51,738
Tangible fixed assets					254			507
					49,528			52,245
Current assets
Stocks					71,751			39,807
Debtors					84,670			110,403
Cash at bank and in hand					8,468			23,690
					164,889			173,900
Creditors: Amounts falling due within one year					(207,828)			(225,924)
Net current liabilities					(42,939)			(52,024)
Net assets					6,589			221
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					6,489			121
Shareholders' funds					6,589			221

For the year ending 31 October 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Flamsafe Limited
(Registration number: 07423369)
Abbreviated Balance Sheet at 31 October 2015
......... continued

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 12 April 2016

.........................................
Mr B I Mattinson
Director

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

Flamsafe Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

Turnover

Turnover is recognised when the company obtains the right to consideration.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	4%

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
Office equipment	33.3% on cost

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Flamsafe Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2014		61,594			760			62,354
At 31 October 2015		61,594			760			62,354
Depreciation
At 1 November 2014		9,856			253			10,109
Charge for the year		2,464			253			2,717
At 31 October 2015		12,320			506			12,826
Net book value
At 31 October 2015		49,274			254			49,528
At 31 October 2014		51,738			507			52,245

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A of £1 each		70			70			70			70
Ordinary B of £1 each		30			30			30			30
		100			100			100			100

Page 4