ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

IOT HUB LIMITED - Company Information

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Registered number: 09045462










FCP FINANCIAL SERVICES LIMITED

UNAUDITED
ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 DECEMBER 2015























PM+M Solutions for Business LLP
Chartered Accountants
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
PAGE 1
 
FCP FINANCIAL SERVICES LIMITED
 

CONTENTS


Page

 
 
Accountants' Report
 
 
2
Balance Sheet
 
 
3 - 4
Notes to the Abbreviated Accounts
 
 
5 - 6
PAGE 2
 
FCP FINANCIAL SERVICES LIMITED
 
 
The following reproduces the text of the Chartered Accountants' Report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 3 to 6) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FCP FINANCIAL SERVICES LIMITED
FOR THE YEAR ENDED 30 DECEMBER 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FCP Financial Services Limited for the year ended 30 December 2015 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at:
www.icaew.com/en/members/regulations-standards-and-guidance/.


This report is made solely to the Board of Directors of FCP Financial Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of FCP Financial Services Limited and state those matters that we have agreed to state to the Board of Directors of FCP Financial Services Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FCP Financial Services Limited and its Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that FCP Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and loss. You consider that FCP Financial Services Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of FCP Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.





PM+M Solutions for Business LLP
 
Chartered Accountants
  
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB

29 September 2016

PAGE 3
 
FCP FINANCIAL SERVICES LIMITED
REGISTERED NUMBER: 09045462


ABBREVIATED BALANCE SHEET
AS AT 30 DECEMBER 2015

2015
2014
Note
£
£
£
£
 
Fixed assets





 
Intangible assets
 
2
13,007

17,342
 
Current assets





 
Debtors
3
4,624
3,433

 
Cash at bank

-
2,825







 
4,624
6,258
 
Creditors: amounts falling due within one year
(2,486)
(1,500)
 
Net current assets


2,138

4,758
 
Total assets less current liabilities
15,145
22,100
 
Creditors: amounts falling due after more than one year
(89,830)

(89,000)

Net liabilities




 (74,685)


 (66,900)
  
Capital and reserves

 
Called up share capital
4
120
120
 
Profit and loss account
(74,805)
(67,020)
 
Deficit
 

 (74,685)

 (66,900)


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 December 2015 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.



PAGE 4
 
FCP FINANCIAL SERVICES LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 DECEMBER 2015

The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 September 2016.





A Mitchell
Director

The notes on pages 5 to 6 form part of these financial statements.


PAGE 5
 
FCP FINANCIAL SERVICES LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2015

1.Accounting Policies

1.1
Basis of preparation of financial statements

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 April 2008).

1.2
Going concern
The financial statements have been prepared on a going concern basis.  Although the company has net current assets of £2,138, the net shareholders funds show a deficit of £(74,685) at the end of this first trading period, however, the  company has the full financial support of the directors and shareholders for the forseeable future.

1.3
Intangible fixed assets and amortisation
Software development costs are stated at cost less amortisation.  It is amortised in the profit and loss account over its estimated economic life.

Amortisation is provided at the following rates:
 
Development expenditure
-
25% straight line method

1.4
Operating leases

Rentals under operating leases are charged to the Profit and Loss Account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.


2.Intangible fixed assets



£


Cost



At 31 December 2014 and 30 December 2015

17,342

Amortisation


Charge for the year
4,335


At 30 December 2015

4,335




Net book value


At 30 December 2015
 13,007


At 30 December 2014

 17,342


PAGE 6
 
FCP FINANCIAL SERVICES LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2015
 
3.Debtors
 

Included within other debtors due within one year is a loan to A Mitchell, a director, amounting to £4,504 (2014 :£3,313). The loan is repayable on demand and no interest has been charged on this loan.

 

4.Share capital
        2015
        2014
        £

        £

Allotted, called up and fully paid



120 Ordinary 1 GBP shares of £1 each
 120
 120