F & K Properties Limited - Period Ending 2016-04-30

Registration number: 03360777

F & K Properties Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Ron Welsh & Co
Chartered Accountants
Mannamead
Church Lane
Neston
Cheshire
CH64 9US

F & K Properties Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

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 3) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
F & K Properties Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of F & K Properties Limited for the year ended 30 April 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of F & K Properties Limited, as a body, in accordance with the terms of our engagement letterdated 5 May 2006. Our work has been undertaken solely to prepare for your approval the accounts of F & K Properties Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than F & K Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that F & K Properties 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 F & K Properties Limited. You consider that F & K Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of F & K Properties 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.

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

Ron Welsh & Co
Chartered Accountants
Mannamead
Church Lane
Neston
Cheshire
CH64 9US

21 October 2016

Page 1

F & K Properties Limited
(Registration number: 03360777)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Current assets
Stocks					584,670			584,670
Cash at bank and in hand					16,960			10,005
					601,630			594,675
Creditors: Amounts falling due within one year					(264,983)			(264,309)
Total assets less current liabilities					336,647			330,366
Creditors: Amounts falling due after more than one year					(392,820)			(392,820)
Net liabilities					(56,173)			(62,454)
Capital and reserves
Called up share capital		3			30			30
Profit and loss account					(56,203)			(62,484)
Shareholders' deficit					(56,173)			(62,454)

For the year ending 30 April 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 .

Approved by the Board on 21 October 2016 and signed on its behalf by:

.........................................
P M Foxall
Director

The notes on page 3 form an integral part of these financial statements.
Page 2

F & K Properties Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 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).

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

2

Creditors

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

		2016 £			2015 £
After more than five years by instalments		392,820			392,820

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary £1 shares of £1 each		30			30			30			30

Page 3