Fraser Ross Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03728871 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Fraser Ross Limited

T/A

Brayshaw Morey

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr R A Clephane

SECRETARY:

Mrs S M Clephane

REGISTERED OFFICE:

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

REGISTERED NUMBER:

03728871 (England and Wales)

ACCOUNTANTS:

Brayshaw Morey

Certified Public Accountants

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

BANKERS:

Barclays Bank plc

46-49 Broad Street

Stamford

Lincolnshire

PE9 1PZ

SOLICITORS:

Garner's Solicitors

1 Oxford Road

Stamford

Lincolnshire

PE91BT

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

6,918

7,411

6,918

7,411

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

69,758

72,288

Cash at bank and in hand

485

16,208

80,243

98,496

CREDITORS

Amounts falling due within one year

85,073

103,393

NET CURRENT LIABILITIES

(4,830

)

(4,897

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,088

2,514

CAPITAL AND RESERVES

Called up share capital

4

103

5

Profit and loss account

1,985

2,509

SHAREHOLDERS' FUNDS

2,088

2,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 15 November 2016 and were signed by:

Mr R A Clephane - 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.

Fixtures, fittings & equipment

-

33% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

125,058

AMORTISATION

At 1 April 2015

and 31 March 2016

125,058

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

64,214

Additions

2,913

At 31 March 2016

67,127

DEPRECIATION

At 1 April 2015

56,803

Charge for year

3,406

At 31 March 2016

60,209

NET BOOK VALUE

At 31 March 2016

6,918

At 31 March 2015

7,411

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

100

Ordinary A

£1

100

2

3

Ordinary 'B'

£1

3

3

103

5