Farason Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 00683734

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

FARASON LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr K D McInnes

Mr R A Farrer

SECRETARY:

Mr K D McInnes

REGISTERED OFFICE:

34 Low Hall Road

Horsforth

Leeds

West Yorkshire

LS18 4EF

REGISTERED NUMBER:

00683734

ACCOUNTANTS:

Bannister Prentice Ltd

Beck House

Thirlby

Thirsk

West Yorkshire

YO7 2DJ

FIXED ASSETS

Intangible assets

2

1,000

Tangible assets

3

1,598

1,788

2,598

2,788

CURRENT ASSETS

Stocks

7,000

5,000

Debtors

13,189

112,143

Cash at bank and in hand

92,599

84,515

112,788

201,658

CREDITORS

Amounts falling due within one year

71,687

92,376

NET CURRENT ASSETS

41,101

109,282

TOTAL ASSETS LESS CURRENT
LIABILITIES

43,699

112,070

CAPITAL AND RESERVES

Called up share capital

4

1,000

Profit and loss account

42,699

111,070

SHAREHOLDERS' FUNDS

43,699

112,070

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 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 29 November 2016 and were signed on its behalf
by:

Mr K D McInnes - 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

-

10% on reducing balance

Fixtures and fittings

-

15% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

13,000

AMORTISATION

At 1 April 2015

and 31 March 2016

12,000

NET BOOK VALUE

At 31 March 2016

1,000

At 31 March 2015

1,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

42,290

DEPRECIATION

At 1 April 2015

40,502

Charge for year

190

At 31 March 2016

40,692

NET BOOK VALUE

At 31 March 2016

1,598

At 31 March 2015

1,788

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000