Fraser Securities Limited - Period Ending 2016-09-30

Registration number: SC433473

Fraser Securities Limited

trading as Waggles

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Borders
TD9 9BD

Fraser Securities Limited
trading as Waggles
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Fraser Securities Limited
trading as Waggles
(Registration number: SC433473)
at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,651			2,205
Current assets
Stocks					18			146
Debtors					33,759			32,354
Cash at bank and in hand					564			416
					34,341			32,916
Creditors: Amounts falling due within one year					(10,224)			(9,048)
Net current assets					24,117			23,868
Total assets less current liabilities					25,768			26,073
Creditors: Amounts falling due after more than one year					(3,844)			(7,424)
Net assets					21,924			18,649
Capital and reserves
Called up share capital		4			50			50
Profit and loss account					21,874			18,599
Shareholders' funds					21,924			18,649

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 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 20 February 2017

.........................................
J C M Fraser
Director

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

Fraser Securities Limited
trading as Waggles
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016

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 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
Fixtures and fittings	20% straight line per annum
Plant and machinery	20% straight line per annum

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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

		Tangible assets £			Total £
Cost
At 1 October 2015		5,213			5,213
Additions		489			489
At 30 September 2016		5,702			5,702
Depreciation
At 1 October 2015		3,008			3,008
Charge for the year		1,043			1,043
At 30 September 2016		4,051			4,051
Net book value
At 30 September 2016		1,651			1,651
At 30 September 2015		2,205			2,205

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

Page 2

Fraser Securities Limited
trading as Waggles
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016

		2016 £			2015 £
Amounts falling due within one year		2,934			2,100
Amounts falling due after more than one year		3,844			7,424
Total secured creditors		6,778			9,524

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		50			50			50			50

Page 3