Finecompany Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 09796945 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 28 September 2015 to 30 September 2016

for

FINECOMPANY LIMITED

Page

Abbreviated Balance Sheet

1

to

2

Notes to the Abbreviated Accounts

3

to

4

FIXED ASSETS

Tangible assets

2

3,403

CURRENT ASSETS

Debtors

54,899

Cash at bank

136,396

191,295

CREDITORS

Amounts falling due within one year

164,796

NET CURRENT ASSETS

26,499

TOTAL ASSETS LESS CURRENT LIABILITIES

29,902

PROVISIONS FOR LIABILITIES

657

NET ASSETS

29,245

CAPITAL AND RESERVES

Called up share capital

3

150

Profit & loss account

29,095

SHAREHOLDERS' FUNDS

29,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 May 2017 and were signed by:

Mr J J Fine - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the

period.

The total turnover of the company for the year has been derived from its principal activity wholly

undertaken in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events have occurred at that date that will result in an

obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely

than not that there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

4,587

Disposals

(50

)

At 30 September 2016

4,537

DEPRECIATION

Charge for period

1,147

Eliminated on disposal

(13

)

At 30 September 2016

1,134

NET BOOK VALUE

At 30 September 2016

3,403

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

50

Ordinary A

£1

50

150

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended

30 September 2016:

£

Mr J J Fine

Balance outstanding at start of period

-

Amounts advanced

11,146

Amounts repaid

-

Balance outstanding at end of period

11,146

Interest has been calculated on a daily basis on the above debt based on the official interest rate for

beneficial loan arrangements as specified by HM Revenue and Customs (3%).

The following amounts were advanced to Mr J J Fine during the period:

£

1 x £3,895

3,895

1 x £600

600

Various advances of less than £500

6,651

11,146