Abbreviated Company Accounts - FUTURE TRANSPORT LTD

Abbreviated Company Accounts - FUTURE TRANSPORT LTD

FUTURE TRANSPORT LTD - Company Information

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Registered Number 07059234

FUTURE TRANSPORT LTD

Abbreviated Accounts

31 October 2016

FUTURE TRANSPORT LTD Registered Number 07059234

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 52,976 73,476
52,976 73,476
Current assets
Stocks 62,500 51,576
Debtors 4,000 8,000
Cash at bank and in hand 16,000 2,200
82,500 61,776
Creditors: amounts falling due within one year (21,940) (25,322)
Net current assets (liabilities) 60,560 36,454
Total assets less current liabilities 113,536 109,930
Creditors: amounts falling due after more than one year (108,778) (108,778)
Total net assets (liabilities) 4,758 1,152
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,757 1,151
Shareholders' funds 4,758 1,152
  • For the year ending 31 October 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 directors acknowledge their 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 Board on 29 June 2017

And signed on their behalf by:
MR V TARI, Director

FUTURE TRANSPORT LTD Registered Number 07059234

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 25% reducing balance and 10% on cost

2Tangible fixed assets
£
Cost
At 1 November 2015 150,952
Additions -
Disposals -
Revaluations -
Transfers -
At 31 October 2016 150,952
Depreciation
At 1 November 2015 77,476
Charge for the year 20,500
On disposals -
At 31 October 2016 97,976
Net book values
At 31 October 2016 52,976
At 31 October 2015 73,476