Finna Fans Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05310859 (England and Wales)

FINNA FANS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr. G. Finlow

SECRETARY:

Mrs. C. Finlow

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BUSINESS ADDRESS:

Unit 230 Ikon Trading Estate

Droitwich Road

Kidderminster

Worcestershire

DY10 4EU

REGISTERED NUMBER:

05310859 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the director 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 Director 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 Finna Fans Limited for the year ended 31 December 2017 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Finna Fans Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finna Fans Limited and state those matters that we have agreed to state to the director of Finna Fans Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Finna Fans Limited and its director for our work or for this report.

It is your duty to ensure that Finna Fans Limited 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 profit of Finna Fans Limited. You consider that Finna Fans Limited 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 Finna Fans Limited. 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.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

7 February 2018

FIXED ASSETS

Tangible assets

4

56,233

51,704

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

237,839

107,209

Cash at bank

36,899

110,279

275,738

218,488

CREDITORS

Amounts falling due within one year

6

152,743

120,335

NET CURRENT ASSETS

122,995

98,153

TOTAL ASSETS LESS CURRENT LIABILITIES

179,228

149,857

CREDITORS

Amounts falling due after more than one year

7

(8,224

)

(7,071

)

PROVISIONS FOR LIABILITIES

(9,594

)

-

NET ASSETS

161,410

142,786

CAPITAL AND RESERVES

Called up share capital

80

80

Revaluation reserve

8

16,000

16,000

Capital redemption reserve

20

20

Retained earnings

145,310

126,686

SHAREHOLDERS' FUNDS

161,410

142,786

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 7 February 2018 and were signed by:

Mr. G. Finlow - Director

1.	STATUTORY INFORMATION

Finna Fans 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 represents net sales of goods/services, excluding value added tax

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

-

10% on reducing balance

Motor vehicles

-

25% on cost

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

116,831

5,000

5,472

127,303

Additions

-

11,295

-

11,295

At 31 December 2017

116,831

16,295

5,472

138,598

DEPRECIATION

At 1 January 2017

66,377

3,750

5,472

75,599

Charge for year

5,045

1,721

-

6,766

At 31 December 2017

71,422

5,471

5,472

82,365

NET BOOK VALUE

At 31 December 2017

45,409

10,824

-

56,233

At 31 December 2016

50,454

1,250

-

51,704

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

160,296

88,415

Other debtors

77,543

18,794

237,839

107,209

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,678

6,146

Trade creditors

99,241

54,435

Taxation and social security

35,967

52,343

Other creditors

8,857

7,411

152,743

120,335

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

8,224

7,071

8.

RESERVES

Revaluation

reserve

£

At 1 January 2017

and 31 December 2017

16,000

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and 31 December 2016:

2017

2016

£

£

Mr. G. Finlow

Balance outstanding at start of year

8,586

4,383

Amounts advanced

-

67,551

Amounts repaid

-

(63,348

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

8,586

10.	ULTIMATE CONTROLLING PARTY

The control of the company is exercised by Mr. G.C. Finlow by virtue of his shareholding.