Frequent Oil Limited - Period Ending 2016-04-30

Registration number: 08034322

Frequent Oil Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

Frequent Oil Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Frequent Oil Limited
(Registration number: 08034322)
Abbreviated Balance Sheet at 30 April 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets		2			1,451			1,451
Current assets
Debtors					1,996			1,996
Cash at bank and in hand					1,059			1,509
					3,055			3,505
Creditors: Amounts falling due within one year					(8,986)			(6,910)
Net current liabilities					(5,931)			(3,405)
Total assets less current liabilities					(4,480)			(1,954)
Capital and reserves
Called up share capital		3			2,000			2,000
Profit and loss account					(6,480)			(3,954)
Shareholders' deficit					(4,480)			(1,954)

For the year ending 30 April 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 director acknowledges his 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 director on 26 January 2017

.........................................
I Knott
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Frequent Oil Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Patents	nil amortisation

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Total £
Cost
At 1 May 2015		1,451			1,451
At 30 April 2016		1,451			1,451
Depreciation
At 30 April 2016		-			-
Net book value
At 30 April 2016		1,451			1,451
At 30 April 2015		1,451			1,451

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2,000			2,000			2,000			2,000

Page 2

Frequent Oil Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

4

Control

The company is controlled by Mr I Knott (director) who owns 100% of the called up share capital.

Page 3