Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

FRIO-TECH LIMITED - Company Information

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FRIO-TECH LIMITED

Company Registration Number:
05378011 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

FRIO-TECH LIMITED

Abbreviated Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 0 0
Tangible assets: 3 317 1,088
Total fixed assets: 317 1,088
Current assets
Debtors: 4 212 1,340
Cash at bank and in hand: 54,366 22,007
Total current assets: 54,578 23,347
Creditors: amounts falling due within one year: 5 ( 50,667 ) ( 21,386 )
Net current assets (liabilities): 3,911 1,961
Total assets less current liabilities: 4,228 3,049
Total net assets (liabilities): 4,228 3,049

The notes form part of these financial statements

FRIO-TECH LIMITED

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 6 1 1
Profit and loss account: 4,227 3,048
Shareholders funds: 4,228 3,049

For the year ending 31 March 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 11 September 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Mr J E Marzana
Status: Director

The notes form part of these financial statements

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

    Turnover policy

    Turnover represents net invoiced sales, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

    Plant and machinery etc - 25% on cost and 20% on cost

    Intangible fixed assets amortisation policy

    Goodwill on incorporation is being amortised over it's revised estimated useful life of 10 years. The value of goodwill has been impaired after agreeing a final valuation with HM Revenue & Customs.

    Other accounting policies

    Deferred tax - deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 2. Intangible assets

    Total
    Cost £
    01 April 2015: 50,000
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 50,000
    Amortisation
    01 April 2015: 50,000
    Provided during the period: 0
    On disposals: 0
    Other Adjustments: 0
    31 March 2016: 50,000
    Net book value
    31 March 2016: 0
    31 March 2015: 0

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 3. Tangible assets

    Total
    Cost £
    01 April 2015: 14,610
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 March 2016: 14,610
    Depreciation
    01 April 2015: 13,522
    Charge for year: 771
    On disposals: 0
    Other adjustments: 0
    31 March 2016: 14,293
    Net book value
    31 March 2016: 317
    31 March 2015: 1,088

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 4. Debtors


    2016
    £
    2015
    £
    Trade debtors: 165 471
    Other debtors: 47 869
    Total: 212 1,340

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 5. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Trade creditors: 55 1,393
    Taxation and social security: 823 373
    Other creditors: 49,789 19,620
    Total: 50,667 21,386

    Included within other creditors is an amount of £48,423 (2015 : £17,654) owing to the director, Mr J E Marzana.

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 6. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 1.00 1
    Preference shares: 0
    Total share capital (£): 1

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 7. Related party disclosures

    Additional information

    During the year dividends of £NIL (2015 : £700) were paid to the director, Mr J E Marzana.

FRIO-TECH LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2016

  • 8. Transactions with directors

    There is a personal guarantee of £10,000 signed by the director to secure a bank overdraft.