Abbreviated Company Accounts - REALLY FLEXIBLE MORTGAGES LIMITED

REALLY FLEXIBLE MORTGAGES LIMITED - Company Information

03997100 REALLY FLEXIBLE MORTGAGES LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 03997100 2015-04-01 2016-03-31 03997100 2016-03-31 03997100 2015-03-31 03997100 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 03997100 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 03997100

REALLY FLEXIBLE MORTGAGES LIMITED

Abbreviated Accounts

31 March 2016

REALLY FLEXIBLE MORTGAGES LIMITED Registered Number 03997100

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	94,081	94,081
		94,081	94,081
Current assets
Debtors		20,826	22,138
Cash at bank and in hand		1,380	225
		22,206	22,363
Creditors: amounts falling due within one year		(90,021)	(85,946)
Net current assets (liabilities)		(67,815)	(63,583)
Total assets less current liabilities		26,266	30,498
Creditors: amounts falling due after more than one year		(79,900)	(79,900)
Total net assets (liabilities)		(53,634)	(49,402)
Capital and reserves
Called up share capital	3	800	800
Other reserves		10,426	10,426
Profit and loss account		(64,860)	(60,628)
Shareholders' funds		(53,634)	(49,402)

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 23 December 2016

And signed on their behalf by:
Mr J Connell, Director

REALLY FLEXIBLE MORTGAGES LIMITED Registered Number 03997100

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 April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced 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:

Fixtures & Fittings - 25% on cost

Other accounting policies
Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

GOING CONCERN

The director has indicated the continued support of his related companies for the company for a period of 12 months from the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 April 2015	110,932
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	110,932
Depreciation
At 1 April 2015	16,851
Charge for the year	-
On disposals	-
At 31 March 2016	16,851
Net book values
At 31 March 2016	94,081
At 31 March 2015	94,081

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
800 Ordinary shares of £1 each	800	800