FRANCIS STREET SERVICE STATION LIMITED - Period Ending 2016-07-31

Registration number: NI604656

FRANCIS STREET SERVICE STATION LIMITED

and Unaudited Abbreviated Accounts

for the Period from 1 October 2015 to 31 July 2016

 

SP Mc Keown & Co Ltd
Chartered Certified Accountants & Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

FRANCIS STREET SERVICE STATION LIMITED
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
FRANCIS STREET SERVICE STATION LIMITED
for the Period Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FRANCIS STREET SERVICE STATION LIMITED for the period ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of FRANCIS STREET SERVICE STATION 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 accounts of FRANCIS STREET SERVICE STATION LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FRANCIS STREET SERVICE STATION LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that FRANCIS STREET SERVICE STATION LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FRANCIS STREET SERVICE STATION LIMITED. You consider that FRANCIS STREET SERVICE STATION LIMITED is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of FRANCIS STREET SERVICE STATION 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 accounts.

......................................

SP Mc Keown & Co Ltd
Chartered Certified Accountants & Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

17 October 2016

Page 1

FRANCIS STREET SERVICE STATION LIMITED
(Registration number: NI604656)
Abbreviated Balance Sheet at 31 July 2016

		Note			31 July 2016 £			30 September 2015 £
Fixed assets
Tangible fixed assets					5,154			7,764
Current assets
Stocks					75,943			63,736
Debtors					83,095			19,469
Cash at bank and in hand					27,250			17,695
					186,288			100,900
Creditors: Amounts falling due within one year					(145,354)			(64,772)
Net current assets					40,934			36,128
Total assets less current liabilities					46,088			43,892
Creditors: Amounts falling due after more than one year					(21,305)			(38,281)
Net assets					24,783			5,611
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					24,682			5,511
Balance sheet suspense					1			-
Shareholders' funds					24,783			5,611

For the year ending 31 July 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 director acknowledges his 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 director on 17 October 2016

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

FRANCIS STREET SERVICE STATION LIMITED
(Registration number: NI604656)
Abbreviated Balance Sheet at 31 July 2016
......... continued

.........................................
Mr Sean Farrell
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

FRANCIS STREET SERVICE STATION LIMITED
Notes to the Abbreviated Accounts for the Period from 1 October 2015 to 31 July 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).

Going concern

The financial statements have been prepared on a going concern basis.

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 expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	20% Straight Line Basis
Plant & Machinery	20% Straight Line Basis
Motor Vehicle	20% 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 4

FRANCIS STREET SERVICE STATION LIMITED
Notes to the Abbreviated Accounts for the Period from 1 October 2015 to 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		42,858			42,858
At 31 July 2016		42,858			42,858
Depreciation
At 1 October 2015		35,094			35,094
Charge for the period		2,610			2,610
At 31 July 2016		37,704			37,704
Net book value
At 31 July 2016		5,154			5,154
At 30 September 2015		7,764			7,764

3	Share capital

Allotted, called up and fully paid shares

	31 July 2016						30 September 2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	1 October 2015 to 31 July 2016 Advance/ Credit £	1 October 2015 to 31 July 2016 Repaid £	Year ended 30 September 2015 Advance/ Credit £	Year ended 30 September 2015 Repaid £
Mr Sean Farrell
	15,626	-	30,126	-

Page 5