The Folio Partnership Limited - Accounts to registrar (filleted) - small 17.3
The Folio Partnership Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2017 |
for |
The Folio Partnership Limited |
The Folio Partnership Limited (Registered number: 06031763) |
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Abridged Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
The Folio Partnership Limited |
Company Information |
for the Year Ended 31 December 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Bellarmine House |
14 Upper Church Street |
Chepstow |
Monmouthshire |
NP16 5EX |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
The Folio Partnership Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of The Folio Partnership Ltd for the year ended 31 December 2015 which comprise the Profit and Loss Account, the |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given |
us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical |
and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the Board of Directors of The Folio Partnership Ltd, as a body, in accordance with our terms of |
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Folio Partnership |
Ltd and state those matters that we have agreed to state to the Board of Directors of The Folio Partnership Ltd, as a body, in this |
report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept |
or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that The Folio Partnership Ltd has kept adequate accounting records and to prepare statutory financial |
statements that give a true and fair view of the assets, liabilities, financial position and loss of The Folio Partnership Ltd. You |
consider that The Folio Partnership Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of The Folio Partnership Ltd. For this |
reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have |
given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Bellarmine House |
14 Upper Church Street |
Chepstow |
Monmouthshire |
NP16 5EX |
The Folio Partnership Limited (Registered number: 06031763) |
Abridged Balance Sheet |
31 December 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 Folio Partnership Limited (Registered number: 06031763) |
Abridged Balance Sheet - continued |
31 December 2017 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors on |
The Folio Partnership Limited (Registered number: 06031763) |
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
1. | STATUTORY INFORMATION |
The Folio Partnership Limited is a |
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. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. Turnover is recognised when the right to consideration arises which occurs when the |
services are provided. Where services have not been invoiced at the balance sheet date turnover represents the value of |
services provided to date. |
Tangible fixed assets |
Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated |
impairment losses. |
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over |
their expected useful lives at a rate of 33% straight line and 25% reducing balance. |
At each Balance Sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether |
there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable |
amount of an asset is estimated in order to determine the extent of the impairment loss, if any. If the recoverable amount of |
an asset is estimated to be less than its carrying amount, the carrying amount is reduced to its recoverable amount and the |
impairment loss recognised as an expense immediately. |
Taxation |
Taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the |
end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial |
statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax |
assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient |
taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability |
is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the |
end of the reporting period. |
Investments |
Fixed asset investments are shown at cost less provision for impairment. Current asset investments are stated at the lower |
of cost and net realisable value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
The Folio Partnership Limited (Registered number: 06031763) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 January 2017 | 288,000 |
Additions | 72,000 |
At 31 December 2017 | 360,000 |
NET BOOK VALUE |
At 31 December 2017 | 360,000 |
At 31 December 2016 | 288,000 |
6. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £36,000 were paid to the directors . |
Included in other creditors are free and repayable on demand. |