First Fit Windows Limited - Period Ending 2016-06-30

Registration number: 06279917

First Fit Windows Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016
 

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

First Fit Windows Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
First Fit Windows Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of First Fit Windows Limited for the year ended 30 June 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 Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html .

This report is made solely to the Board of Directors of First Fit Windows Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of First Fit Windows Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Fit Windows Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that First Fit Windows 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 First Fit Windows Limited. You consider that First Fit Windows 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 First Fit Windows 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.

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

Spirare Limited
Chartered Certified Accountants
Mey House
Bridport Road
Poundbury
Dorset
DT1 3QY

22 November 2016

Page 1

First Fit Windows Limited
(Registration number: 06279917)
Abbreviated Balance Sheet at 30 June 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					66,767			31,333
Current assets
Stocks					9,450			9,860
Debtors					60,835			52,371
Cash at bank and in hand					76,632			96,204
					146,917			158,435
Creditors: Amounts falling due within one year					(100,322)			(110,504)
Net current assets					46,595			47,931
Total assets less current liabilities					113,362			79,264
Creditors: Amounts falling due after more than one year					(23,842)			(2,336)
Provisions for liabilities					(13,131)			(5,562)
Net assets					76,389			71,366
Capital and reserves
Called up share capital		4			42			42
Profit and loss account					76,347			71,324
Shareholders' funds					76,389			71,366

For the year ending 30 June 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 22 November 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

First Fit Windows Limited
(Registration number: 06279917)
Abbreviated Balance Sheet at 30 June 2016
......... continued

.........................................
Mr S C Corps
Director

.........................................
Mr O Stanton
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

First Fit Windows Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	15% reducing balance
Motor vehicles	25% reducing balance
Leasehold land and buildings	10% straight line

Stock

Stock 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.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

First Fit Windows Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

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	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2015		45,815			45,815
Additions		56,300			56,300
At 30 June 2016		102,115			102,115
Depreciation
At 1 July 2015		14,482			14,482
Charge for the year		20,866			20,866
At 30 June 2016		35,348			35,348
Net book value
At 30 June 2016		66,767			66,767
At 30 June 2015		31,333			31,333

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		4,047			2,167
Amounts falling due after more than one year		23,842			2,336
Total secured creditors		27,889			4,503

Page 5

First Fit Windows Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2
Ordinary class A non-voting of £1 each		10			10			10			10
Ordinary class B non-voting of £1 each		10			10			10			10
Ordinary class C non-voting of £1 each		10			10			10			10
Ordinary class D non-voting of £1 each		10			10			10			10
		42			42			42			42

Page 6