FOK_TRADING_LIMITED - Accounts

FOK TRADING LIMITED - Company Information

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Company Registration No. 05864449 (England and Wales)

FOK TRADING LIMITED

T/A ECO AIR

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOK TRADING LIMITED

T/A ECO AIR

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2013

- 1 -

2013

2012

Notes

Fixed assets

Tangible assets

418,080

414,608

Investments

418,085

414,613

Current assets

Stocks

758,547

356,523

Debtors

905,101

196,461

Cash at bank and in hand

343,124

256,482

2,006,772

809,466

Creditors: amounts falling due within one year

(1,323,683)

(626,141)

Net current assets

683,089

183,325

Total assets less current liabilities

1,101,174

597,938

Creditors: amounts falling due after more than one year

(200,154)

(208,615)

Provisions for liabilities

(22,511)

(19,958)

878,509

369,365

Capital and reserves

Called up share capital

100

Profit and loss account

878,409

369,265

Shareholders' funds

878,509

369,365

FOK TRADING LIMITED

T/A ECO AIR

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2013

- 2 -

For the financial year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 24 September 2014

N Fok

Director

Company Registration No. 05864449

FOK TRADING LIMITED

T/A ECO AIR

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Freehold land & buildings are not depreciated

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.9

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

FOK TRADING LIMITED

T/A ECO AIR

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2013

446,344

446,349

Additions

22,132

Disposals

(18,667)

At 31 December 2013

449,809

449,814

Depreciation

At 1 January 2013

31,736

On disposals

(11,724)

Charge for the year

11,717

At 31 December 2013

31,729

Net book value

At 31 December 2013

418,080

418,085

At 31 December 2012

414,608

414,613

The fixed asset investment represents a shareholding of less than 20% in 400 NCR Managment Company Limited, a company registered in Scotland. The shareholding is held as part of the purchase of the freehold property. The company was dormant throughout the period.

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £388,666 (2012 - £100,246).

The secured creditors due within one year are secured by a fixed and floating charge over the assets of the company. The bank mortgage is secured over that property.

Creditors: amounts falling due after more than one year

2013

2012

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

162,154

170,615

The aggregate amount of creditors for which security has been given amounted to £200,154 (2012 - £208,615).

The bank loans due after one year are secured on the company's freehold property.

FOK TRADING LIMITED

T/A ECO AIR

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2013

- 5 -

Share capital

2013

2012

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100