Farpoint Developments Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03272201 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

for

Farpoint Developments Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

M Hooper

Mrs P A Tombs

Mrs L Hooper

SECRETARY:

Mrs P A Tombs

REGISTERED OFFICE:

The Old Red House Bakery

90c Walcot Street

BATH

BANES

BA1 5BG

REGISTERED NUMBER:

03272201 (England and Wales)

FIXED ASSETS

Tangible assets

2

54,182

50,749

CURRENT ASSETS

Stocks

175,002

190,328

Debtors

282,021

190,506

Cash at bank and in hand

298,943

119,841

755,966

500,675

CREDITORS

Amounts falling due within one year

573,682

342,209

NET CURRENT ASSETS

182,284

158,466

TOTAL ASSETS LESS CURRENT LIABILITIES

236,466

209,215

PROVISIONS FOR LIABILITIES

9,866

8,810

NET ASSETS

226,600

200,405

CAPITAL AND RESERVES

Called up share capital

3

25,000

25,000

Share premium

5,000

5,000

Profit and loss account

196,600

170,405

SHAREHOLDERS' FUNDS

226,600

200,405

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 28 December 2016 and were signed on its behalf by:

Mrs P A Tombs - 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 and services supplied, 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.

Improvements to property

-

over period of lease

Plant and machinery

-

33% on reducing balance and 10% 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.

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 April 2015

220,640

Additions

25,318

At 31 March 2016

245,958

DEPRECIATION

At 1 April 2015

169,891

Charge for year

21,885

At 31 March 2016

191,776

NET BOOK VALUE

At 31 March 2016

54,182

At 31 March 2015

50,749

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

25,000

Ordinary

£1

25,000

25,000

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £98,002 (2015 - £69,132) were paid to the directors .

5.	ULTIMATE CONTROLLING PARTY