Abbreviated Company Accounts - FRANK NOLTEN LIMITED

FRANK NOLTEN LIMITED - Company Information

Registered Number 02627866

FRANK NOLTEN LIMITED

Abbreviated Accounts

31 March 2016

FRANK NOLTEN LIMITED Registered Number 02627866

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets		-	-
Tangible assets	2	763,184	763,184
Investments		-	-
		763,184	763,184
Current assets
Cash at bank and in hand		2	2
		2	2
Creditors: amounts falling due within one year		(765,631)	(765,631)
Net current assets (liabilities)		(765,629)	(765,629)
Total assets less current liabilities		(2,445)	(2,445)
Total net assets (liabilities)		(2,445)	(2,445)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(2,545)	(2,545)
Shareholders' funds		(2,445)	(2,445)

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 13 December 2016

And signed on their behalf by:
J S Carr, Director

FRANK NOLTEN LIMITED Registered Number 02627866

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.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is not charged on the freehold land. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets, less their residual value, over their expected useful lives on the following basis:

This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated, but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

As there is no depreciation charged on the freehold property due to any depreciation charge being immaterial, an impairment review is carried out at the end of each accounting period to confirm the fixed assets are recorded in the financial statements at no more than their recoverable amount.

Other accounting policies
The financial statements have been prepared on an ongoing concern basis. As at 30 March 2016 the company had net current liabilities of £765,629 (2015 - net current assets of £765,629) and net liabilities of £2,445 (2015 - net liabilities £2,445). The directors consider the ongoing concern basis to be appropriate as the company is in receipt of continued support from the directors and they will not seek payment for the amounts due in the foreseeable future.

2Tangible fixed assets

	£
Cost
At 1 April 2015	763,184
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	763,184
Depreciation
At 1 April 2015	-
Charge for the year	-
On disposals	-
At 31 March 2016	-
Net book values
At 31 March 2016	763,184
At 31 March 2015	763,184

Included in land and buildings are freehold land at valuation of £15,000 and freehold buildings at a cost of £748,184 which are not depreciated