Friends Building Contractors Limited,Ltd - Accounts

Friends Building Contractors Limited,Ltd - Accounts

FRIENDS BUILDING CONTRACTORS LIMITED - Company Information

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2013-01-01 true false Private Limited Company 04947010 2013-12-31 04947010 2013-01-01 2013-12-31 04947010 2012-12-31 04947010 2012-01-01 2012-12-31 04947010 uk-bus:Director1 2013-01-01 2013-12-31 04947010 uk-gaap:ToolsEquipment 2013-01-01 2013-12-31 04947010 uk-gaap:CommercialMotorVehicles 2013-01-01 2013-12-31 04947010 uk-gaap:FixturesFittings 2013-01-01 2013-12-31 04947010 uk-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP
Friends Building Contractors Limited
For the year ended 31 December 2013
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04947010
2
Contents Page
Friends Building Contractors Limited
For the year ended 31 December 2013
1
Accountant's Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Friends Building Contractors Limited
Accountant's Report
For the year ended 31 December 2013
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the
accounts of Friends Building Contractors Limited for the year ended 31 December 2013 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 us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and
other professional requirements which are detailed at http://rulebook.accaglobal.com.
This report is made solely to the Board of Directors of Friends Building Contractors Limited, as a body, in
accordance with the terms of our engagement letter dated 30 September 2012. Our work has been undertaken
solely to prepare for your approval the accounts of Friends Building Contractors Limited and state those matters
that we have agreed to state to the Board of Directors of Friends Building Contractors Limited, as a body, in this
report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at
http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than Friends Building Contractors Limited and its Board of Directors as a body for our
work or for this report.
It is your duty to ensure that Friends Building Contractors 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
Friends Building Contractors Limited. You consider that Friends Building Contractors Limited is exempt from the
statutory audit requirement for the year.
Thankey & Company
Chartered Certified Accountants &
Registered Auditors
98 Grosvenor Road
Ilford Essex
IG11LA
29 September 2014
Dated:
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4
Abbreviated Balance Sheet
Friends Building Contractors Limited
As at 31 December 2013
04947010
Registered Number :
£
£
2013
Notes
2012
Fixed assets
Tangible assets
2
16,760
21,742
16,760
21,742
Current assets
Stocks
27,250
52,000
Debtors
26,390
32,375
Cash at bank and in hand
26,297
13,047
110,672
66,687
Creditors: amounts falling due within one year
(94,038)
(133,859)
(27,351)
(23,187)
Net current liabilities
Total assets less current liabilities
(6,427)
(5,609)
Creditors: amounts falling due after more than one year
(971)
-
(6,427)
Net liabilities
(6,580)
Capital and reserves
Called up share capital
2
3
2
Profit and loss account
(6,429)
(6,582)
(6,427)
(6,580)
Shareholders funds
For the year ended 31 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
2) 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.
Date approved by the board: 29 September 2014
Avtar Jheeta Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
Friends Building Contractors Limited
For the year ended 31 December 2013
1 Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
15% Reducing balance
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
15% Reducing balance
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6
Notes to the Abbreviated Financial Statements
Friends Building Contractors Limited
For the year ended 31 December 2013
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
41,448
At 01 January 2013
At 31 December 2013
41,448
Depreciation
19,706
At 01 January 2013
4,982
Charge for year
24,688
At 31 December 2013
Net book values
At 31 December 2013
16,760
21,742
At 31 December 2012
3 Share capital
Authorised
100 Ordinary shares of £1.00 each
Allotted called up and fully paid
2013
2012
£
£
2 Ordinary shares of £1.00 each
2
2
2
2
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