Micro-entity Accounts - FEONIC LIMITED

03788874 FEONIC LIMITED 2017-01-31 false 2016-02-01 2017-01-31 true 03788874 2016-02-01 2017-01-31 03788874 2017-01-31 03788874 2016-01-31 03788874 uk-gaap-cd-bus:Director1 2016-02-01 2017-01-31 03788874 uk-gaap-cd-bus:Director2 2016-02-01 2017-01-31 03788874 uk-gaap-cd-bus:AllEntityOfficers 2016-02-01 2017-01-31 iso4217:GBP shares

Registered Number 03788874

FEONIC LIMITED

Micro-entity Accounts

31 January 2017

FEONIC LIMITED Registered Number 03788874

Micro-entity Balance Sheet as at 31 January 2017

	Notes	2017	2016
		£	£
Fixed assets
Investments	1	1,000,000	1,000,000
		1,000,000	1,000,000
Current assets
Debtors		1,277	2,414
		1,277	2,414
Creditors: amounts falling due within one year		(1,765,397)	(1,688,209)
Net current assets (liabilities)		(1,764,120)	(1,685,795)
Total assets less current liabilities		(764,120)	(685,795)
Total net assets (liabilities)		(764,120)	(685,795)
Capital and reserves
Called up share capital		3,039,567	3,039,567
Share premium account		3,142,448	3,142,448
Other reserves		1,692,561	1,692,561
Profit and loss account		(8,638,696)	(8,560,371)
Shareholders' funds		(764,120)	(685,795)

For the year ending 31 January 2017 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 September 2017

And signed on their behalf by:
Graham Beswick, Director

FEONIC LIMITED Registered Number 03788874

Notes to the Micro-entity Accounts for the period ended 31 January 2017

1Fixed assets Investments
The company owns the whole of the issued share capital of Feonic Technology Limited a company registered in England and Wales.

During the year the company capitalised £4.1m of its loan to Feonic Technology into £1 ordinary shares thus increasing its investment. Having considered the underlying value of the investment the directors then made a provision to reduce the carrying value of the investment to £1m.

During the year Feonic Technology Limited made a loss of £18,975 (18 months to 31 January 2016 Loss £110,020). At 31 January 2017 Feonic Technology had net liabilities of £149,944 (31 January 2016 net liabilities £4,230,969)