Freya Rose Limited - Period Ending 2014-02-28

Registration number: 07146165

Freya Rose Limited

Unaudited Abbreviated Accounts

for the Year Ended 28 February 2014
 

Freya Rose Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Freya Rose Limited
(Registration number: 07146165)
Abbreviated Balance Sheet at 28 February 2014

		Note			2014 £						2013 £
Fixed assets
Intangible fixed assets		2						9,000						10,500
Tangible fixed assets		2						905						1,608
								9,905						12,108
Current assets
Stocks					60,664						8,544
Debtors					9,530						-
					70,194						8,544
Creditors: Amounts falling due within one year					(53,551)						(38,750)
Net current assets/(liabilities)								16,643						(30,206)
Total assets less current liabilities								26,548						(18,098)
Creditors: Amounts falling due after more than one year								(34,215)						(24,315)
Net liabilities								(7,667)						(42,413)
Capital and reserves
Called up share capital		3			100						100
Profit and loss account					(7,767)						(42,513)
Shareholders' deficit								(7,667)						(42,413)

For the year ending 28 February 2014 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 27 November 2014

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Freya Rose Limited
(Registration number: 07146165)
Abbreviated Balance Sheet at 28 February 2014
......... continued

.........................................
F R Rees
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Freya Rose Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight lane basis
Fixtures and fittings	10% straight lane basis
Office equipment	10% straight lane basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 3

Freya Rose Limited
Notes to the Abbreviated Accounts for the Year Ended 28 February 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 March 2013		15,000			3,717			18,717
At 28 February 2014		15,000			3,717			18,717
Depreciation
At 1 March 2013		4,500			2,109			6,609
Charge for the year		1,500			703			2,203
At 28 February 2014		6,000			2,812			8,812
Net book value
At 28 February 2014		9,000			905			9,905
At 28 February 2013		10,500			1,608			12,108

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

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