Financechain Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03551656 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2016

for

Financechain Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

W Sharp

D Sharp

P E Bannister

SECRETARY:

D Sharp

REGISTERED OFFICE:

Landmark House

Station Road

Cheadle Hulme

Cheshire

SK8

7BS

REGISTERED NUMBER:

03551656 (England and Wales)

ACCOUNTANTS:

Lucas Reis Limited

Landmark House

Station Rd

Cheadle Hulme

Cheshire

SK8 7BS

FIXED ASSETS

Tangible assets

2

20,666

11,618

CURRENT ASSETS

Debtors

101,503

62,905

Cash at bank and in hand

64,146

101,859

165,649

164,764

CREDITORS

Amounts falling due within one year

95,551

96,347

NET CURRENT ASSETS

70,098

68,417

TOTAL ASSETS LESS CURRENT
LIABILITIES

90,764

80,035

PROVISIONS FOR LIABILITIES

4,034

2,324

NET ASSETS

86,730

77,711

CAPITAL AND RESERVES

Called up share capital

3

100

Share premium

24,980

Profit and loss account

61,650

52,631

SHAREHOLDERS' FUNDS

86,730

77,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 November 2016 and were signed on its behalf
by:

W Sharp - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

47,480

Additions

14,904

At 30 April 2016

62,384

DEPRECIATION

At 1 May 2015

35,862

Charge for year

5,856

At 30 April 2016

41,718

NET BOOK VALUE

At 30 April 2016

20,666

At 30 April 2015

11,618

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

100

Ordinary

£1

100