FBA (UK) LTD Small abridged accounts

FBA (UK) LTD Small abridged accounts

FBA (UK) LTD. - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of FBA (UK) LTD have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 07531804
FBA (UK) LTD
Unaudited Abridged Financial Statements
28 February 2017
FBA (UK) LTD
Abridged Financial Statements
Year ended 28 February 2017
Contents
Page
Director's report
1
Abridged statement of income and retained earnings
2
Abridged statement of financial position
3
Notes to the abridged financial statements
4
The following pages do not form part of the abridged financial statements
Detailed abridged income statement
8
Notes to the detailed abridged income statement
9
FBA (UK) LTD
Director's Report
Year ended 28 February 2017
The director presents his report and the unaudited abridged financial statements of the company for the year ended 28 February 2017 .
Director
The director who served the company during the year was as follows:
MRS FAIZUN NESSA
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 November 2017 and signed on behalf of the board by:
MRS FAIZUN NESSA
Director
Registered office:
112-116 Whitechapel Road
3rd Floor
London
E1 1JE
FBA (UK) LTD
Abridged Statement of Income and Retained Earnings
Year ended 28 February 2017
2017
2016
Note
£
£
Gross profit
38,291
68,424
Distribution costs
–
88
Administrative expenses
67,804
63,097
--------
--------
Operating (loss)/profit
( 29,513)
5,239
Other interest receivable and similar income
10
12
--------
--------
(Loss)/profit before taxation
5
( 29,503)
5,251
Tax on (loss)/profit
–
1,022
--------
-------
(Loss)/profit for the financial year and total comprehensive income
( 29,503)
4,229
--------
-------
Dividends paid and payable
–
( 17,000)
Retained earnings at the start of the year (as previously reported)
1,320
14,091
Prior period adjustments
1,805
–
-------
--------
Retained earnings at the start of the year (restated)
3,125
14,091
--------
--------
Retained (losses)/earnings at the end of the year
( 26,378)
1,320
--------
--------
All the activities of the company are from continuing operations.
FBA (UK) LTD
Abridged Statement of Financial Position
28 February 2017
2017
2016
Note
£
£
£
Fixed assets
Tangible assets
6
3,920
2,780
Current assets
Cash at bank and in hand
5,054
9,081
Creditors: amounts falling due within one year
35,351
10,540
--------
--------
Net current liabilities
30,297
1,459
--------
-------
Total assets less current liabilities
( 26,377)
1,321
--------
-------
Net (liabilities)/assets
( 26,377)
1,321
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 26,378)
1,320
--------
-------
Members (deficit)/funds
( 26,377)
1,321
--------
-------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 29 November 2017 , and are signed on behalf of the board by:
MRS FAIZUN NESSA
Director
Company registration number: 07531804
FBA (UK) LTD
Notes to the Abridged Financial Statements
Year ended 28 February 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 112-116 Whitechapel Road, 3rd Floor, London, E1 1JE.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
18% reducing balance
-
18% reducing balance
4. Employee numbers
The average number of persons employed by the company during the year, including the director, amounted to 4 (2016: 4 ).
5. Profit before taxation
(Loss)/profit before taxation is stated after charging:
2017
2016
£
£
Depreciation of tangible assets
860
611
----
----
6. Tangible assets
£
Cost
At 1 March 2016
5,839
Additions
2,000
-------
At 28 February 2017
7,839
-------
Depreciation
At 1 March 2016
3,059
Charge for the year
860
-------
At 28 February 2017
3,919
-------
Carrying amount
At 28 February 2017
3,920
-------
At 29 February 2016
2,780
-------
7. Related party transactions
The company was under the control of MRS FAIZUN NESSA throughout the current and previous year. MRS FAIZUN NESSA is the managing director and 100% shareholder of the company.
8. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.
No transitional adjustments were required in equity or profit or loss for the year.
FBA (UK) LTD
Management Information
Year ended 28 February 2017
The following pages do not form part of the abridged financial statements.
FBA (UK) LTD
Detailed Abridged Income Statement
Year ended 28 February 2017
2017
2016
£
£
Turnover
38,291
68,424
--------
--------
Gross profit
38,291
68,424
Overheads
Distribution costs
–
88
Administrative expenses
67,804
63,097
--------
--------
67,804
63,185
--------
--------
Operating (loss)/profit
( 29,513)
5,239
Other interest receivable and similar income
10
12
--------
-------
(Loss)/profit before taxation
(29,503)
5,251
--------
-------
FBA (UK) LTD
Notes to the Detailed Abridged Income Statement
Year ended 28 February 2017
2017
2016
£
£
Distribution costs
Advertising
–
88
----
----
Administrative expenses
Directors salaries
5,800
10,765
Directors national insurance contributions
35
366
Wages and salaries
54,509
41,082
Rent
4,440
8,027
Repairs and maintenance (allowable)
49
–
Cleaning costs
–
60
Travel and subsistence
529
385
Telephone
385
433
Printing postage and stationery
–
30
Sundry expenses
–
179
Advertising
118
–
Legal and professional fees (allowable)
130
–
Accountancy fees
840
960
Depreciation of tangible assets
860
611
Bank charges
109
199
--------
--------
67,804
63,097
--------
--------
Other interest receivable and similar income
Interest on cash and cash equivalents
10
12
----
----