| 2 Fore Street Limited |
| Registered number: |
07262087 |
| Abbreviated Balance Sheet |
| as at 31 March 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
- |
|
|
750 |
| Tangible assets |
3 |
|
|
22,510 |
|
|
19,811 |
|
|
|
|
22,510 |
|
|
20,561 |
|
| Current assets |
| Stocks |
|
|
6,400 |
|
|
8,150 |
| Debtors |
|
|
130,619 |
|
|
141,459 |
| Cash at bank and in hand |
|
|
170,488 |
|
|
78,462 |
|
|
|
307,507 |
|
|
228,071 |
|
| Creditors: amounts falling due within one year |
|
|
(63,904) |
|
|
(55,222) |
|
| Net current assets |
|
|
|
243,603 |
|
|
172,849 |
|
| Total assets less current liabilities |
|
|
|
266,113 |
|
|
193,410 |
|
|
| Provisions for liabilities |
|
|
|
(3,773) |
|
|
(2,793) |
|
|
| Net assets |
|
|
|
262,340 |
|
|
190,617 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
262,240 |
|
|
190,517 |
|
| Shareholders' funds |
|
|
|
262,340 |
|
|
190,617 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mrs K L Donnelly |
| Director |
| Approved by the board on 24 June 2016 |
|
| 2 Fore Street Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
15% reducing balance |
|
Office equipment |
25% reducing balance |
|
|
Stocks |
|
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. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
10,000 |
|
At 31 March 2016 |
10,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
9,250 |
|
Provided during the year |
750 |
|
At 31 March 2016 |
10,000 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
- |
|
At 31 March 2015 |
750 |
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2015 |
32,418 |
|
Additions |
7,035 |
|
Disposals |
(1,149) |
|
At 31 March 2016 |
38,304 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
12,607 |
|
Charge for the year |
3,632 |
|
On disposals |
(445) |
|
At 31 March 2016 |
15,794 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
22,510 |
|
At 31 March 2015 |
19,811 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr J J Wardell |
|
Director loan |
55,550 |
|
54,645 |
|
(59,485) |
|
50,710 |
|
|
Ms K L Donnelly |
|
Director loan |
55,062 |
|
29,560 |
|
(35,210) |
|
49,412 |
|
|
|
110,612 |
|
84,205 |
|
(94,695) |
|
100,122 |
|
|
|
|
|
|
|
|
|
|
Interest totalling £3,230 was charged on the loans during the year at a rate of 3.25%. The maximum |
|
balances of the loans during the year were as follows: |
| £ |
|
Mr J J Wardell |
59,484 |
|
Ms K L Donnelly |
56,456 |
|
|
| 6 |
Ultimate controlling party |
|
|
The directors Mr J J Wardell and Ms K L Donnelly are joint owners and have joint control |
|
of the company. |
