Fieldview Homes Limited Small abbreviated accounts
Fieldview Homes Limited Small abbreviated accounts
COMPANY REGISTRATION NUMBER
04193734
for the year ended
Report to the Director on the Preparation of the
Unaudited Statutory Accounts of Fieldview Homes Limited
for the year ended 30th June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Fieldview Homes Limited for the year ended 30th June 2016 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the director of Fieldview Homes Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the abbreviated accounts of Fieldview Homes Limited and state those matters that we have agreed to state to him in this report in accordance with AAF 02/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fieldview Homes Limited and its director for our work or for this report.
It is your duty to ensure that Fieldview Homes Limited has kept adequate accounting records and to prepare statutory abbreviated accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fieldview Homes Limited. You consider that Fieldview Homes Limited 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 abbreviated accounts of Fieldview Homes Limited. 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 abbreviated accounts.
Abbreviated Balance Sheet
as at 30th June 2016
|
2016 |
2015 |
|||
|
Note |
£ |
£ |
£ |
£ |
|
Fixed assets |
2 |
||||
|
Tangible assets |
783,260 |
783,776 |
|||
Current assets
|
Stocks |
|
|
||
|
Debtors |
4,154 |
4,154 |
||
|
Cash at bank |
|
|
||
|
----------- |
----------- |
|||
|
244,596 |
249,109 |
|||
|
Creditors: amounts falling due within one year |
|
|
||
|
------------ |
------------ |
|||
|
Net current liabilities |
(1,154,986) |
(1,170,227) |
||
|
------------ |
------------ |
|||
|
Total assets less current liabilities |
(371,726) |
(386,451) |
||
|
------------ |
------------ |
|||
Capital and reserves
|
Called-up equity share capital |
3 |
100 |
100 |
||
|
Profit and loss account |
(371,826) |
(386,551) |
|||
|
----------- |
----------- |
||||
|
Deficit |
(371,726) |
(386,451) |
|||
|
----------- |
----------- |
||||
Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts were approved and signed by the director and authorised for issue on
28 March 2017
.
Company Registration Number:
04193734
Notes to the Abbreviated Accounts
for the year ended 30th June 2016
1.
Accounting policies
Basis of accounting
Turnover
Fixed assets
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Investment properties
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, 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 is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.
Fixed assets
|
Tangible Assets |
|
|
£ |
|
Cost
|
At 1st July 2015 and 30th June 2016 |
797,071 |
|
----------- |
|
Depreciation
|
At 1st July 2015 |
|
|
Charge for year |
|
|
----------- |
|
|
At 30th June 2016 |
|
|
----------- |
|
Net book value
|
At 30th June 2016 |
|
|
----------- |
|
At 30th June 2015
|
|
|
|
----------- |
|
Freehold investment property was valued in 2010, on an open market value basis, by the director at £780,338.
3.
Share capital
Authorised share capital:
|
2016 |
2015 |
||
|
£ |
£ |
||
|
|
|
|
|
|
----------- |
----------- |
||
Allotted, called up and fully paid:
|
2016 |
2015 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
|
|
|
|
----------- |
----------- |
----------- |
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