ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2016-01-01 08858984 2016-01-01 2016-12-31 08858984 2016-12-31 08858984 2015-12-31 08858984 c:Director1 2016-01-01 2016-12-31 08858984 d:CurrentFinancialInstruments 2016-12-31 08858984 d:CurrentFinancialInstruments 2015-12-31 08858984 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 08858984 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 08858984 d:ShareCapital 2016-12-31 08858984 d:ShareCapital 2015-12-31 08858984 d:RetainedEarningsAccumulatedLosses 2016-12-31 08858984 d:RetainedEarningsAccumulatedLosses 2015-12-31 08858984 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-12-31 08858984 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2015-12-31 08858984 c:FRS102 2016-01-01 2016-12-31 08858984 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 08858984 c:FullAccounts 2016-01-01 2016-12-31 08858984 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP

Registered number: 08858984

FREETON LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FREETON LIMITED

REGISTERED NUMBER: 08858984

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£


Current assets
Debtors: amounts falling due within one year	3	-		2,082
Cash at bank and in hand	4	12,389		13,111
		12,389		15,193
Creditors: amounts falling due within one year	5	(3,103)		(3,811)
Net current assets			9,286		11,382
Total assets less current liabilities			9,286		11,382

Net assets			9,286		11,382

Capital and reserves
Called up share capital	100	100
Profit and loss account	9,186	11,282
	9,286	11,382

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 her 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 income and retained earnings 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:

................................................

Mrs G M Leates

Director

Date: 18 April 2018

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FREETON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

Freeton Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London, England, N3 1LF. The company registration number is 08858984.

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

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.

2.4

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.

2.5

Financial instruments

The Company only enters into basic financial instruments 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.

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FREETON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.6

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.

2.7

Taxation

Tax is recognised in the Statement of income and retained earnings, 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 or refund is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the united kingdom where the Company operates and generates income.

Debtors

					2016	2015
					£	£


Trade debtors	-	2,082
	-	2,082

4.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	12,389	13,111
	12,389	13,111

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FREETON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

5.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Corporation tax	90	678
Other creditors	653	653
Accruals and deferred income	2,360	2,480
	3,103	3,811

6.	Financial instruments
		2016	2015
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	12,389	13,111
	12,389	13,111

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

7.	Transactions with directors
	Included in creditors is the sum of £653 (2015: £653) due to Mrs G M Leates, the director and shareholder of the company. This loan is unsecured, interest free and is repayable on demand.

8.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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