ACCOUNTS - Final Accounts

Caseware UK (AP4) 2014.0.91 2014.0.91 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalseNo description of principal activityfalse2015-11-25 09888485 2015-11-24 09888485 2015-11-25 2016-12-31 09888485 2016-12-31 09888485 c:Director1 2015-11-25 2016-12-31 09888485 c:Director1 2016-12-31 09888485 c:RegisteredOffice 2015-11-25 2016-12-31 09888485 d:ComputerEquipment 2015-11-25 2016-12-31 09888485 d:ComputerEquipment 2016-12-31 09888485 d:ComputerEquipment d:OwnedOrFreeholdAssets 2015-11-25 2016-12-31 09888485 d:CurrentFinancialInstruments 2016-12-31 09888485 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 09888485 d:ShareCapital 2016-12-31 09888485 d:RetainedEarningsAccumulatedLosses 2016-12-31 09888485 c:FRS102 2015-11-25 2016-12-31 09888485 c:AuditExempt-NoAccountantsReport 2015-11-25 2016-12-31 09888485 c:FullAccounts 2015-11-25 2016-12-31 09888485 c:PrivateLimitedCompanyLtd 2015-11-25 2016-12-31 iso4217:GBP xbrli:pure

Company registration number 09888485

	UNAUDITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 DECEMBER 2016

	FCBD LIMITED


FCBD LIMITED

COMPANY INFORMATION

Director	Frances Crewdson (appointed 25 November 2015)


Registered number	09888485


Registered office	Wentworth House
	4400 Parkway

	Whiteley
	Hampshire
	PO15 7FJ


Accountants	Menzies LLP
	Chartered Accountants
	Wentworth House
	4400 Parkway

	Whiteley
	Hampshire
	PO15 7FJ


FCBD LIMITED

CONTENTS

	Page
Income Statement	1
Statement of Financial Position	2
Notes to the Financial Statements	3 - 6


FCBD LIMITED

INCOME STATEMENT

FOR THE PERIOD ENDED 31 DECEMBER 2016

	2016
Note	£


Turnover		22,201
Gross profit		22,201
Administrative expenses		(4,792)
Operating profit		17,409
Tax on profit		(3,355)
Profit for the period		14,054

The notes on pages 3 to 6 form part of these financial statements.

Page 1


FCBD LIMITED REGISTERED NUMBER:09888485

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2016

		2016
Note		£

Fixed assets
Tangible assets	4		633
			633
Current assets
Debtors: amounts falling due within one year	5	957
Cash at bank and in hand		20,526
		21,483
Creditors: amounts falling due within one year	6	(7,962)
Net current assets			13,521
Total assets less current liabilities			14,154

Net assets			14,154

Capital and reserves
Called up share capital			100
Profit and loss account			14,054
			14,154

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

Frances Crewdson

Director

Date: 23 April 2017

The notes on pages 3 to 6 form part of these financial statements.

Page 2


FCBD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2016

1.	Statement of compliance

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
FCBD Limited is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of its registered office and principal place of business are disclosed on the company information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Page 3


FCBD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Taxation

Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4


FCBD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2016

Employees

The average monthly number of employees, including directors, during the period was 1.

	4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	Additions	950
	At 31 December 2016	950
	Depreciation
	Charge for the period on owned assets	317
	At 31 December 2016	317
	Net book value
	At 31 December 2016	633

Debtors

					2016
					£


	Trade debtors	608
	Prepayments and accrued income	349
		957

6.	Creditors: Amounts falling due within one year
		2016
		£

	Corporation tax	3,355
	Other taxation and social security	1,292
	Other creditors	2,065
	Accruals and deferred income	1,250
		7,962

Page 5


FCBD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2016

7.	Ultimate controlling party

The ultimate controlling party is Frances Crewdson, the company director.

8.	First time adoption of FRS 102

The company incorporated on 25 November 2015 and has decided to early adopt FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' basis of accounting.

Page 6