FCG Window Cleaning Ltd - Period Ending 2016-10-31

Registration number: 7421040

FCG Window Cleaning Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

Redwoods
Chartered Certified Accountants
2 Clyst Works,
Clyst Road, Topsham
Exeter
EX3 0DB

FCG Window Cleaning Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Note 3

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
FCG Window Cleaning Ltd
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FCG Window Cleaning Ltd for the year ended 31 October 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of FCG Window Cleaning Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of FCG Window Cleaning Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FCG Window Cleaning Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that FCG Window Cleaning Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FCG Window Cleaning Ltd. You consider that FCG Window Cleaning Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of FCG Window Cleaning Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Redwoods
Chartered Certified Accountants
2 Clyst Works,
Clyst Road, Topsham
Exeter
EX3 0DB

3 February 2017

Page 1

FCG Window Cleaning Ltd
(Registration number: 7421040)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					9,200			11,040
Current assets
Debtors					1,617			1,283
Cash at bank and in hand					3,932			2,976
					5,549			4,259
Creditors: Amounts falling due within one year					(8,587)			(10,359)
Net current liabilities					(3,038)			(6,100)
Total assets less current liabilities					6,162			4,940
Creditors: Amounts falling due after more than one year					-			(1,690)
Provisions for liabilities					(430)			(488)
Net assets					5,732			2,762
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					5,632			2,662
Shareholders' funds					5,732			2,762

For the year ending 31 October 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 3 February 2017

.........................................
Mr Richard John Beech
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

FCG Window Cleaning Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is written off in equal annual instalments over its estimated useful economic life.

Asset class	Amortisation method and rate
Goodwill	Straight line over 3 years

Depreciation

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

Asset class	Depreciation method and rate
Equipment	15% reducing balance
Motor vehicles - vans	20% reducing balance
Fixtures and fittings	15% reducing balance
Office equipment	25% reducing balance

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that they are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

FCG Window Cleaning Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 £			Tangible assets £			Total £
Cost
At 1 November 2015		17,000			17,319			34,319
Additions		-			456			456
Disposals		-			(499)			(499)
At 31 October 2016		17,000			17,276			34,276
Depreciation
At 1 November 2015		17,000			6,279			23,279
Charge for the year		-			2,075			2,075
Eliminated on disposals		-			(278)			(278)
At 31 October 2016		17,000			8,076			25,076
Net book value
At 31 October 2016		-			9,200			9,200
At 31 October 2015		-			11,040			11,040

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4