DAVID_FREEDMAN_LTD - Accounts

DAVID FREEDMAN LTD. - Company Information

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Company Registration No. 02918432 (England and Wales)

DAVID FREEDMAN LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

DAVID FREEDMAN LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

DAVID FREEDMAN LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

3,315

1,812

Current assets

Debtors

22,875

1,344

Cash at bank and in hand

229

4,992

23,104

6,336

Creditors: amounts falling due within one year

(29,404)

(15,155)

Net current liabilities

(6,300)

(8,819)

Total assets less current liabilities

(2,985)

(7,007)

Capital and reserves

Called up share capital

100

Profit and loss account

(3,085)

(7,107)

Shareholders' funds

(2,985)

(7,007)

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 11 December 2014

David Freedman

Director

Company Registration No. 02918432

DAVID FREEDMAN LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

1.3

Turnover

Turnover represents amounts receivable for services net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Office equipment

25% straight line

Furniture and fittings

20% straight line

1.5

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.6

Going Concern

These accounts have been prepared on the going concern basis as the directors have confirmed their ongoing financial support for the company.

DAVID FREEDMAN LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2013

30,668

Additions

3,082

At 31 March 2014

33,750

Depreciation

At 1 April 2013

28,856

Charge for the year

1,579

At 31 March 2014

30,435

Net book value

At 31 March 2014

3,315

At 31 March 2013

1,812

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

The directors had a joint interest free loans during the year. The movement on this loan is as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Interest free loan

12,426

12,839

(334)

12,426

12,839

(334)