FKS (UK) Limited - Period Ending 2016-08-31

Registration number: 06505321

FKS (UK) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

P A Hull & Co
Chartered Accountants
Beech House
23 Ladies Lane
Hindley
Wigan
WN2 2QA

FKS (UK) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
FKS (UK) Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of FKS (UK) Limited for the year ended 31 August 2016 set out on pages 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/membershandbook.

This report is made solely to the Board of Directors of FKS (UK) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of FKS (UK) Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FKS (UK) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that FKS (UK) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of FKS (UK) Limited. You consider that FKS (UK) 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 accounts of FKS (UK) 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 accounts.

......................................

P A Hull & Co
Chartered Accountants
Beech House
23 Ladies Lane
Hindley
Wigan
WN2 2QA

23 May 2017

Page 1

FKS (UK) Limited
(Registration number: 06505321)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					229,530			211,458
Current assets
Stocks					6,975			-
Debtors					100,115			71,559
Cash at bank and in hand					5,694			58,946
					112,784			130,505
Creditors: Amounts falling due within one year					(164,135)			(164,357)
Net current liabilities					(51,351)			(33,852)
Total assets less current liabilities					178,179			177,606
Creditors: Amounts falling due after more than one year					(5,008)			(7,075)
Provisions for liabilities					(43,824)			(39,839)
Net assets					129,347			130,692
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					129,345			130,690
Shareholders' funds					129,347			130,692

For the year ending 31 August 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 23 May 2017

.........................................
Mr F Sinker
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

FKS (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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

Sales represent the amount of goods and services, net of value added tax and excluding trade discounts and anticipated returns, provided to external customers. Revenue is recognised so as to reflect the right of the company to consideration by reference to the value of the work performed.

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
Plant and machinery	25% reducing balance
Fixtures and fittings	25% reducing balance
Motor Vehicles	25% reducing balance
Office equipment	25% reducing balance

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

FKS (UK) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

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 September 2015		379,130			379,130
Additions		115,929			115,929
Disposals		(41,268)			(41,268)
At 31 August 2016		453,791			453,791
Depreciation
At 1 September 2015		167,672			167,672
Charge for the year		76,537			76,537
Eliminated on disposals		(19,948)			(19,948)
At 31 August 2016		224,261			224,261
Net book value
At 31 August 2016		229,530			229,530
At 31 August 2015		211,458			211,458

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 4