FIMARK_LIMITED - Accounts
FIMARK_LIMITED - Accounts
Company Registration No. 03330180 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS
Page
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIMARK LIMITED FOR THE YEAR ENDED 31 AUGUST 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fimark Limited for the year ended 31 August 2016 set out on pages 3 to 10 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Fimark 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 financial statements of Fimark Limited and state those matters that we have agreed to state to the Board of Directors of Fimark Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fimark Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Fimark Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fimark Limited. You consider that Fimark 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 financial statements of Fimark 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 financial statements.
Morris & Co
Chartered Accountants
England
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
3
(115,533 )
(133,216 )
Net current liabilities
(3,405 )
(22,911 )
Total assets less current liabilities
Creditors: amounts falling due after more than one year
4
(68,657 )
(94,403 )
Provisions for liabilities
(32,353 )
(37,302 )
49,166
46,057
Capital and reserves
Called up share capital
5
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
- 3 -
Director's responsibilities:
-
-
Approved by the Board for issue on 26 May 2017
Director
Company Registration No. 03330180
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
1
Accounting policies
1.1
Accounting convention
1.2
Turnover
1.3
Tangible fixed assets and depreciation
Plant and machinery
Computer equipment
1.4
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 5 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
566,571
Depreciation
At 1 September 2015
365,897
Charge for the year
47,093
At 31 August 2016
412,990
Net book value
At 31 August 2016
153,581
At 31 August 2015
200,673
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £25,746 (2015 - £25,746).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £68,657 (2015 - £94,203).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid