Accounts filed on 31-01-2016

Accounts filed on 31-01-2016

FTAA LIMITED - Company Information

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FTAA LIMITED

Company Registration Number:
06076443 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 February 2015

End date: 31 January 2016

FTAA LIMITED

Abbreviated Balance sheet

As at 31 January 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 5,400 5,850
Tangible assets: 3 1,593 1,065
Total fixed assets: 6,993 6,915
Current assets
Debtors: 4 22,817 13,454
Cash at bank and in hand: 6,864
Total current assets: 29,681 13,454
Creditors: amounts falling due within one year: 5 ( 8,869 ) ( 11,936 )
Net current assets (liabilities): 20,812 1,518
Total assets less current liabilities: 27,805 8,433
Total net assets (liabilities): 27,805 8,433

The notes form part of these financial statements

FTAA LIMITED

Balance sheet continued

As at 31 January 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 6 1 1
Profit and loss account: 27,804 8,432
Shareholders funds: 27,805 8,433

For the year ending 31 January 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 2015.

The financial statements were approved by the Board of Directors on 14 October 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Roger Field
Status: Director

The notes form part of these financial statements

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 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.

    Turnover policy

    THE TURNOVER SHOWN IN THE PROFIT AND LOSS ACCOUNT REPRESENTS REVENUE EARNED DURING THE PERIOD, EXCLUSIVE OF VAT.

    Tangible fixed assets depreciation policy

    DEPRECIATION IS PROVIDED, AFTER TAKING ACCOUNT OF ANY GRANTS RECEIVABLE, AT THE FOLLOWING ANNUAL RATES IN ORDER TO WRITE OFF EACH ASSET OVER ITS ESTIMATED USEFUL LIFE.
    FIXTURES & FITTINGS: 20% ON COST
    PLANT & EQUIPMENT: 20% ON COST

    Intangible fixed assets amortisation policy

    INTANGIBLE FIXED ASSETS (INCLUDING PURCHASED GOODWILL AND PATENTS) ARE AMORTISED AT RATES CALCULATED TO WRITE OFF THE ASSETS ON A STRAIGHT BASIS OVER THEIR ESTIMATED USEFUL ECONOMIC LIVES, NOT TO EXCEED TWENTY YEARS. IMPAIRMENT OF INTANGIBLE ASSETS IS ONLY REVIEWED WHERE CIRCUMSTANCES INDICATE THAT THE CARRYING VAULE OF AN ASSET MAY NOT BE FULLY RECOVERABLE.

    Valuation information and policy

    STOCKS AND WORK IN PROGRESS 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 EXPENDITURE AND AN APPROPRIATE PROPORTION OF FIXED AND VARIABLE OVERHEADS.

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 2016

  • 2. Intangible assets

    Total
    Cost £
    01 February 2015: 9,000
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 January 2016: 9,000
    Amortisation
    01 February 2015: 3,150
    Provided during the period: 450
    On disposals: 0
    Other Adjustments: 0
    31 January 2016: 3,600
    Net book value
    31 January 2016: 5,400
    31 January 2015: 5,850

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 2016

  • 3. Tangible assets

    Total
    Cost £
    01 February 2015: 10,144
    Additions: 3,195
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 January 2016: 13,339
    Depreciation
    01 February 2015: 9,079
    Charge for year: 2,667
    On disposals: 0
    Other adjustments: 0
    31 January 2016: 11,746
    Net book value
    31 January 2016: 1,593
    31 January 2015: 1,065

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 2016

  • 4. Debtors


    2016
    £
    2015
    £
    Trade debtors: 8,850 9,650
    Prepayments and accrued income: 1,403 979
    Other debtors: 12,564 2,825
    Total: 22,817 13,454

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 2016

  • 5. Creditors: amounts falling due within one year


    2016
    £
    2015
    £
    Bank loans and overdrafts: 3,976
    Trade creditors: 913 1,679
    Taxation and social security: 6,768 2,541
    Accruals and deferred income: 1,188 1,131
    Other creditors: 2,609
    Total: 8,869 11,936

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 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

FTAA LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 January 2016

  • 7. Transactions with directors

    Name of director receiving advance or credit Roger Field
    Description of the transaction DIRECTORS CURRENT ACCOUNT
    Balance at 01 February 2015 2,609
    Advances or credits repaid 12,123
    Balance at 31 January 2016 9,514

    THE COMPANY WAS OWED BY THE DIRECTOR, R A FIELD AT 31/1/16 £9,514.00