Frontline Estates Ltd - Period Ending 2016-09-30

Registration number: 05209258

Frontline Estates Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Frontline Estates Ltd
(Registration number: 05209258)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,835			2,294
Current assets
Stocks					1,601,183			10,390
Debtors					30,604			18,897
Cash at bank and in hand					16,984			17,293
					1,648,771			46,580
Creditors: Amounts falling due within one year					(34,579)			(37,918)
Net current assets					1,614,192			8,662
Total assets less current liabilities					1,616,027			10,956
Creditors: Amounts falling due after more than one year					(1,744,436)			-
Net (liabilities)/assets					(128,409)			10,956
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					(128,509)			10,856
Shareholders' (deficit)/funds					(128,409)			10,956

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 27 February 2017 and signed on its behalf by:

Mr Richard Weatherhead
Director

Frontline Estates Ltd
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).

Going concern

At the balance sheet date, the company's liabilities exceeded its assets as none of the houses under development have been sold. As is shown in note 12, page 8, 5 houses have now either been sold or are sold subject to contract and the directors are confident that the financial position will have improved over the next twelve months.

Turnover

Turnover represents amounts in respect of sale of land and buildings.

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
Office equipment	20% reducing balance

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		4,308			4,308
At 30 September 2016		4,308			4,308
Depreciation
At 1 October 2015		2,014			2,014
Charge for the year		459			459
At 30 September 2016		2,473			2,473
Net book value
At 30 September 2016		1,835			1,835
At 30 September 2015		2,294			2,294

3

Creditors

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

		2016 £			2015 £
Amounts falling due after more than one year		1,744,436			-

Frontline Estates Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

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

5	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Richard Weatherhead
	32,236	-	35,075	-