ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueOther professional, scientific and technical activitiesfalse2017-04-01 08510945 2017-04-01 2018-03-31 08510945 2016-04-01 2017-03-31 08510945 2018-03-31 08510945 2017-03-31 08510945 c:Director1 2017-04-01 2018-03-31 08510945 d:CurrentFinancialInstruments 2018-03-31 08510945 d:CurrentFinancialInstruments 2017-03-31 08510945 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 08510945 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 08510945 d:ShareCapital 2018-03-31 08510945 d:ShareCapital 2017-03-31 08510945 d:RetainedEarningsAccumulatedLosses 2018-03-31 08510945 d:RetainedEarningsAccumulatedLosses 2017-03-31 08510945 c:FRS102 2017-04-01 2018-03-31 08510945 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 08510945 c:FullAccounts 2017-04-01 2018-03-31 08510945 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 08510945

FAVIER LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018


FAVIER LIMITED REGISTERED NUMBER:08510945

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	17,340		10,200
Cash at bank and in hand	5	140,793		74,865
		158,133		85,065
Creditors: amounts falling due within one year	6	(33,816)		(51,345)
Net current assets			124,317		33,720
Total assets less current liabilities			124,317		33,720

Net assets			124,317		33,720

Capital and reserves
Called up share capital	100	100
Profit and loss account	124,217	33,620
	124,317	33,720

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R Favier

Director

Date: 20 April 2018

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FAVIER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

Favier Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 4 Hockley Rise, Hockley, Essex, SS5 4QE.
The principal activity of the company continued to be that of other professional, scientific and technical activities.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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FAVIER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.9

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.10

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2017 -1).

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FAVIER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Trade debtors	17,340	10,200
	17,340	10,200

5.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	140,793	74,865
	140,793	74,865

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	30,458	44,491
Other taxation and social security	2,793	4,893
Other creditors	-	516
Accruals and deferred income	565	1,445
	33,816	51,345

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