Frank Turner Ltd

FRANK TURNER LIMITED - Company Information

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Registered number: 04835943

Frank Turner Ltd

Abbreviated accounts

For The Year Ended 31 August 2016

Frank Turner Ltd

Company No. 04835943

Abbreviated Balance Sheet 31 August 2016

Abbreviated Balance Sheet

		2016
	Notes	£	£
FIXED ASSETS
Tangible Assets	2		32,355

			32,355
CURRENT ASSETS
Stocks		16,539
Debtors		117,589
Cash at bank and in hand		509,874

		644,002
Creditors: Amounts Falling Due Within One Year		(282,090 )

NET CURRENT ASSETS (LIABILITIES)			361,912

TOTAL ASSETS LESS CURRENT LIABILITIES			394,267

PROVISIONS FOR LIABILITIES
Deferred Taxation			(6,030 )

NET ASSETS			388,237

CAPITAL AND RESERVES
Called up share capital	3		200
Profit and Loss Account			388,037

SHAREHOLDERS' FUNDS			388,237

Frank Turner Ltd

Company No. 04835943

Abbreviated Balance Sheet (continued) 31 August 2016

For the year ending 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mrs Geraldine Turner

29th March 2017

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Frank Turner Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 August 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	15% Reducing Balance Basis
Motor Vehicles	25% Reducing Balance Basis
Computer Equipment	15% Reducing Balance Basis

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Tangible Assets


	Total
Cost	£
As at 1 September 2015	90,107
Additions	8,390

As at 31 August 2016	98,497

Depreciation
As at 1 September 2015	58,002
Provided during the period	8,140

As at 31 August 2016	66,142

Net Book Value
As at 31 August 2016	32,355

As at 1 September 2015	32,105

3. Share Capital

	Value	Number	2016
Allotted, called up and fully paid	£		£
Ordinary shares	1.000	200	200

4. Transactions With and Loans to Directors

Dividends paid to directors

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Frank Turner Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2016

	2016
	£
Mr Frank Turner	5,000
Mrs Geraldine Turner	5,000
Mr Stuart Turner	1,500

5. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

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