Fred Astley Limited - Period Ending 2016-09-30

Registration number: 00185641

Fred Astley Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Fred Astley Limited
(Registration number: 00185641)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			489,269			489,133
Current assets
Debtors					1,600			3,220
Cash at bank and in hand					12,458			1,824
					14,058			5,044
Creditors: Amounts falling due within one year					(13,004)			(15,239)
Net current assets/(liabilities)					1,054			(10,195)
Total assets less current liabilities					490,323			478,938
Creditors: Amounts falling due after more than one year					(34,267)			(22,159)
Provisions for liabilities					(200)			-
Net assets					455,856			456,779
Capital and reserves
Called up share capital		3			38,968			38,968
Profit and loss account					416,888			417,811
Shareholders' funds					455,856			456,779

For the year ending 30 September 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 1 February 2017 and signed on its behalf by:

.........................................
Mr S M Astley
Director

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

Fred Astley Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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.

Depreciation

Depreciation is provided to write off the cost or valuation of fixed assets, less any residual value over their expected useful lives on the following basis :-

Asset class	Depreciation method and rate
Plant and equipment	15% per annum

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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 the FRSSE. Deferred tax is measured at the rates that 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.

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.

Page 2

Fred Astley Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		501,034			501,034
Additions		470			470
At 30 September 2016		501,504			501,504
Depreciation
At 1 October 2015		11,901			11,901
Charge for the year		334			334
At 30 September 2016		12,235			12,235
Net book value
At 30 September 2016		489,269			489,269
At 30 September 2015		489,133			489,133

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		38,968			38,968			38,968			38,968

Page 3