Fraddon Biogas Limited - Period Ending 2015-12-31

 
 
 
 
 
 
 
  Fraddon Biogas Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 December 2015
 
  Company Registration Number: 08803919

Fraddon Biogas Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Fraddon Biogas Limited
Abbreviated Balance Sheet
31 December 2015

		Note			31 December 2015 £			(As restated) 31 December 2014 £
Fixed assets
Tangible fixed assets		2			8,640,605			6,998,163
Current assets
Debtors					548,664			524,817
Cash at bank and in hand					19,827			1,110,364
					568,491			1,635,181
Creditors: Amounts falling due within one year					(657,304)			(599,661)
Net current (liabilities)/assets					(88,813)			1,035,520
Total assets less current liabilities					8,551,792			8,033,683
Creditors: Amounts falling due after more than one year					(8,439,455)			(6,440,381)
Net assets					112,337			1,593,302
Capital and reserves
Called up share capital		4			20			20
Share premium account					2,214,533			2,213,543
Profit and loss account					(2,102,216)			(620,261)
Shareholders' funds					112,337			1,593,302

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

Fraddon Biogas Limited
Abbreviated Balance Sheet
31 December 2015 ......... continued

For the year ending 31 December 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 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 30 September 2016 and signed on its behalf by:

Mr W K Reed
Director

Company Registration Number: 08803919

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

Fraddon Biogas Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 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 January 2015).

Going concern

The financial statements have been prepared on a going concern basis. The directors have prepared cashflow projections which show that the plant generates sufficient future income to be considered a going concern for the forseeable future.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	5% straight line

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		6,998,163			6,998,163
Additions		1,902,033			1,902,033
At 31 December 2015		8,900,196			8,900,196
Depreciation
Charge for the year		259,591			259,591
At 31 December 2015		259,591			259,591
Net book value
At 31 December 2015		8,640,605			8,640,605
At 31 December 2014		6,998,163			6,998,163

Page 3

Fraddon Biogas Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2015 ......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 December 2015 £			31 December 2014 £
Amounts falling due after more than one year		8,439,455			6,440,381

Included in the creditors are the following amounts due after more than five years:

		31 December 2015 £			31 December 2014 £
After more than five years by instalments		8,439,455			6,440,381

4	Share capital

Allotted, called up and fully paid shares

	31 December 2015						31 December 2014
		No.			£			No.			£
Ordinary shares of £0.01 each		1,000			10			1,000			10
Ordinary A shares of £0.01 each		1,000			10			1,000			10
		2,000			20			2,000			20

The Ordinary shares and Ordinary A shares rank equally in respect of distributions and voting rights.

Page 4