FGH Instrument Services Limited - Period Ending 2016-05-31

Registration number: 02242056

FGH Instrument Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

FGH Instrument Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

FGH Instrument Services Limited
(Registration number: 02242056)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					306			376
Current assets
Stocks					40,255			32,558
Debtors					61,913			73,217
Cash at bank and in hand					234,737			223,144
					336,905			328,919
Creditors: Amounts falling due within one year					(67,336)			(66,165)
Net current assets					269,569			262,754
Net assets					269,875			263,130
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					268,875			262,130
Shareholders' funds					269,875			263,130

For the year ending 31 May 2016 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 6 September 2016 and signed on its behalf by:

.........................................
Mr Christopher Kenneth Bootherstone
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

FGH Instrument Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the supply and service of electrical instruments and computer software for the control of temperature in furnaces and similar installations

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	over 5 years on a straight line basis

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	10% straight line basis
Office equipment	15% straight line basis

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 2

FGH Instrument Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2015		10,000			31,555			41,555
At 31 May 2016		10,000			31,555			41,555
Depreciation
At 1 June 2015		10,000			31,179			41,179
Charge for the year		-			70			70
At 31 May 2016		10,000			31,249			41,249
Net book value
At 31 May 2016		-			306			306
At 31 May 2015		-			376			376

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A of £1 each		250			250			250			250
Ordinary B of £1 each		250			250			250			250
Ordinary C of £1 each		250			250			250			250
Ordinary D of £1 each		125			125			125			125
Ordinary E of £1 each		125			125			125			125
		1,000			1,000			1,000			1,000

Page 3