Fossgate Social Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08804992 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2017

FOR

FOSSGATE SOCIAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Miss S A Lakin

M Lakin

REGISTERED OFFICE:

25 Fossgate

York

North Yorkshire

YO1 9TA

REGISTERED NUMBER:

08804992 (England and Wales)

ACCOUNTANTS:

CGA

Chartered Certified Accountants

3 & 4 Park Court

Riccall Road

Escrick

York

North Yorkshire

YO19 6ED

FIXED ASSETS

Tangible assets

4

36,318

32,734

CURRENT ASSETS

Stocks

8,333

4,473

Debtors

5

37,706

2,009

Cash at bank and in hand

86,069

79,545

132,108

86,027

CREDITORS

Amounts falling due within one year

6

55,147

55,821

NET CURRENT ASSETS

76,961

30,206

TOTAL ASSETS LESS CURRENT LIABILITIES

113,279

62,940

PROVISIONS FOR LIABILITIES

5,616

5,122

NET ASSETS

107,663

57,818

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

107,657

57,812

SHAREHOLDERS' FUNDS

107,663

57,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6th December 2017 and were signed on its behalf by:

M Lakin - Director

1.	STATUTORY INFORMATION

Fossgate Social Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods supplied and services rendered stated net of discounts and of Value Added Tax.

Income is recognised when the right to consideration becomes due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

15% on reducing balance

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Computer

property

machinery

equipment

Totals

£

£

£

£

COST

At 1st May 2016

24,139

22,600

917

47,656

Additions

6,192

6,529

-

12,721

At 30th April 2017

30,331

29,129

917

60,377

DEPRECIATION

At 1st May 2016

5,990

8,404

528

14,922

Charge for year

3,651

5,181

305

9,137

At 30th April 2017

9,641

13,585

833

24,059

NET BOOK VALUE

At 30th April 2017

20,690

15,544

84

36,318

At 30th April 2016

18,149

14,196

389

32,734

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

37,706

2,009

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

452

17,907

Taxation and social security

52,645

34,219

Other creditors

2,050

3,695

55,147

55,821

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made the following transactions with the Directors:

Mr M Lakin

The company made advances in the sum of £10,294 (2016 - £31,777) which was off-set by credits of £250

(2016 - £33,075).

As at the year end date the amount owed by the director was £8,639 (2016 - Amount owed to the Director -

£1,405) and is included within other debtors.

Ms S Lakin

The company made advances in the sum of £10,294 (2016 - £36,448) which was off-set by credits of £250

(2016 - £54,500).

As at the year end date the amount owed by the director was £9,886 (2016 - Amount owed to the Director £159)

and is included within other debtors.

The balances have no interest charged thereon and are repayable on demand.

There are no conditions attached to advances to the directors, however, they must ensure that this is not

detrimental to the company.

8.	RELATED PARTY DISCLOSURES

During the year the Company loaned money to The Ice Cream Factory Limited, a Company owned and directed

by M Lakin, Director of Fossgate Social Limited. At the year end, the Company was owed £17,000 by The Ice

Cream Factory Limited which is included within Other Debtors. No interest is being charged on this balance

which is repayable upon demand.