Firwood SCI Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05609346 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2017

FOR

FIRWOOD SCI LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr G H Davies

SECRETARY:

Ms S N Galloway

REGISTERED OFFICE:

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

BUSINESS ADDRESS:

3 Firwood Close

Chandlers Ford

Eastleigh

Hampshire

SO53 1HN

REGISTERED NUMBER:

05609346 (England and Wales)

FIXED ASSETS

Tangible assets

5

593

936

CURRENT ASSETS

Debtors

6

381

335

Cash at bank

6,915

5,342

7,296

5,677

CREDITORS

Amounts falling due within one year

7

1,591

1,161

NET CURRENT ASSETS

5,705

4,516

TOTAL ASSETS LESS CURRENT LIABILITIES

6,298

5,452

PROVISIONS FOR LIABILITIES

113

187

NET ASSETS

6,185

5,265

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

6,184

5,264

SHAREHOLDERS' FUNDS

6,185

5,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28th February 2018 and were signed by:

Mr G H Davies - Director

1.	STATUTORY INFORMATION

Firwood SCI 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Section 1A "Small Entities" of

Financial Reporting Standard 102 (FRS 102 Section 1A) issued by the Financial Reporting Council. The last

financial statements, for the year ended 31st October 2016, were prepared under previous UK GAAP. The

transition date to FRS 102 Section 1A is therefore 1st November 2015.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies

which were being applied prior to transition. There was no change to the reported profit and loss account or

closing equity position of the business for the year ended 31st October 2016 as a result of the transition, nor to

opening equity position at the date of transition.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done

in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and

contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% straight line

All fixed assets are initially recorded at cost.

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 balance sheet date.

Deferred tax

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

balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st November 2016

1,041

718

1,759

Disposals

(275

)

-

(275

)

At 31st October 2017

766

718

1,484

DEPRECIATION

At 1st November 2016

803

20

823

Charge for year

44

237

281

Eliminated on disposal

(213

)

-

(213

)

At 31st October 2017

634

257

891

NET BOOK VALUE

At 31st October 2017

132

461

593

At 31st October 2016

238

698

936

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

381

335

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

345

152

Taxation and social security

286

49

Other creditors

960

960

1,591

1,161

Included in Other creditors is £960 (2016: £960) in relation to accruals and deferred income.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary A

£1

1

1