Abbreviated Company Accounts - FOLCARN LIMITED

Abbreviated Company Accounts - FOLCARN LIMITED

FOLCARN LIMITED - Company Information

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Registered Number 02177402

FOLCARN LIMITED

Abbreviated Accounts

31 March 2016

FOLCARN LIMITED Registered Number 02177402

Abbreviated Balance Sheet as at 31 March 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,524,740 878,057
Investments 3 185,854 185,854
1,710,594 1,063,911
Current assets
Debtors 20,354 218,833
Investments 346,768 153,432
Cash at bank and in hand 171,420 409,757
538,542 782,022
Creditors: amounts falling due within one year (642,857) (290,738)
Net current assets (liabilities) (104,315) 491,284
Total assets less current liabilities 1,606,279 1,555,195
Creditors: amounts falling due after more than one year (875,846) (917,693)
Provisions for liabilities (2,995) (1,459)
Total net assets (liabilities) 727,438 636,043
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 727,338 635,943
Shareholders' funds 727,438 636,043
  • For the year ending 31 March 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 30 September 2016

And signed on their behalf by:
Paul Coulthard, Director

FOLCARN LIMITED Registered Number 02177402

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoice during the year.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset less its estimated residual value over the useful economic life of that asset as follows:
Freehold property - straight line 50 years
Furniture & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Equipment - 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 April 2015 1,102,919
Additions 674,801
Disposals -
Revaluations -
Transfers -
At 31 March 2016 1,777,720
Depreciation
At 1 April 2015 224,862
Charge for the year 28,118
On disposals -
At 31 March 2016 252,980
Net book values
At 31 March 2016 1,524,740
At 31 March 2015 878,057

3Fixed assets Investments
INVESTMENTS
Cost
@ 1 April 2015 £185,854
Additions £0
@ 31 March 2016 £185,854

Depreciation
@ 1 April 2015 £0
Charge for year £0
@ 31 March 2016 £0

Net book value
@ 31 March 2016 £185,854
@ 31 March 2015 £185,854

4Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
100 Ordinary shares of £1 each 100 100

CREDITORS - AMOUNTS FALLING DUE WITHIN ONE YEAR
The following liabilities disclosed under creditors falling due within one year are secured by the company:
Bank loans and overdrafts 2016 £439,700
Bank loans and overdrafts 2015 £39,400

The mortgage is secured on The Old Lodge Nursing Home.

CREDITORS - AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

Bank loans and overdrafts 2016 £875,846
Bank loans and overdrafts 2015 £915,374

The mortgage is secured on The Old Lodge Nursing Home