Factory Estates Limited Small abridged accounts

FACTORY ESTATES LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2015-12-01 Sage Accounts Production Advanced 2017 Update 3 - FRS xbrli:pure xbrli:shares iso4217:GBP 08781775 2015-12-01 2017-03-31 08781775 2017-03-31 08781775 2015-11-30 08781775 2014-12-01 2015-11-30 08781775 2015-11-30 08781775 2014-11-30 08781775 bus:Director1 2015-12-01 2017-03-31 08781775 bus:Director3 2015-12-01 2017-03-31 08781775 bus:Director4 2015-12-01 2017-03-31 08781775 core:WithinOneYear 2017-03-31 08781775 core:WithinOneYear 2015-11-30 08781775 core:ShareCapital 2017-03-31 08781775 core:ShareCapital 2015-11-30 08781775 core:RetainedEarningsAccumulatedLosses 2017-03-31 08781775 core:RetainedEarningsAccumulatedLosses 2015-11-30 08781775 bus:Director1 2015-11-30 08781775 bus:Director1 2017-03-31 08781775 bus:Director3 2015-11-30 08781775 bus:Director3 2017-03-31 08781775 bus:Director4 2015-11-30 08781775 bus:Director4 2017-03-31 08781775 bus:Director1 2014-11-30 08781775 bus:Director1 2015-11-30 08781775 bus:Director3 2014-11-30 08781775 bus:Director3 2015-11-30 08781775 bus:Director4 2014-11-30 08781775 bus:Director4 2015-11-30 08781775 bus:Director1 2014-12-01 2015-11-30 08781775 bus:Director3 2014-12-01 2015-11-30 08781775 bus:FRS102 2015-12-01 2017-03-31 08781775 bus:AuditExempt-NoAccountantsReport 2015-12-01 2017-03-31 08781775 bus:AbridgedAccounts 2015-12-01 2017-03-31 08781775 bus:SmallCompaniesRegimeForAccounts 2015-12-01 2017-03-31 08781775 bus:PrivateLimitedCompanyLtd 2015-12-01 2017-03-31

Statement of Consent to Prepare Abridged Financial Statements

All of the members of Factory Estates Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the period ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 08781775

Factory Estates Limited

Filleted Unaudited Abridged Financial Statements

31 March 2017

Factory Estates Limited

Abridged Financial Statements

Period from 1 December 2015 to 31 March 2017

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Factory Estates Limited

Abridged Statement of Financial Position

31 March 2017

	31 Mar 17		30 Nov 15
Note	£	£	£

Current assets

Debtors	–	84,748
Cash at bank and in hand	2	37,840
	----	---------
	2	122,588

Creditors: amounts falling due within one year	( 21,200)		131,828
	--------		---------
Net current assets/(liabilities)		21,202	( 9,240)
		--------	-------
Total assets less current liabilities		21,202	( 9,240)
		--------	-------
Net assets/(liabilities)		21,202	( 9,240)
		--------	-------

Capital and reserves

Called up share capital	200	200
Profit and loss account	21,002	( 9,440)
	--------	-------
Shareholders funds/(deficit)	21,202	( 9,240)
	--------	-------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the period ending 31 March 2017 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 abridged financial statements for the period 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 abridged financial statements .

Factory Estates Limited

Abridged Statement of Financial Position (continued)

31 March 2017

These abridged financial statements were approved by the board of directors and authorised for issue on 30 May 2018 , and are signed on behalf of the board by:

Mr J Haynes	Mr C Bowman
Director	Director

Mr N Islam
Director

Company registration number: 08781775

Factory Estates Limited

Notes to the Abridged Financial Statements

Period from 1 December 2015 to 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Quadrant, Coventry, West Midlands, CV1 2EL.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. The July 2015 amendments to the standard have been early adopted.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 (2015: 1 ).

5. Directors' advances, credits and guarantees

During the period the directors entered into the following advances and credits with the company:

	31 Mar 17
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Haynes	( 77,979)	113,180	( 30,000)	5,201
Mr C Bowman	45,599	87,919	( 177,170)	( 43,652)
Mr N Islam	25	–	–	25
	--------	---------	---------	--------
	( 32,355)	201,099	( 207,170)	( 38,426)
	--------	---------	---------	--------

	30 Nov 15
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr J Haynes	( 46,258)	–	( 31,720)	(77,978)
Mr C Bowman	27,319	68,005	( 49,725)	45,599
Mr N Islam	25	–	–	25
	--------	--------	--------	--------
	( 18,914)	68,005	( 81,445)	(32,354)
	--------	--------	--------	--------

6. Related party transactions

The company was under the control of Mr C Bowman , Mr J Haynes & Mr N Islam throughout the current year. Mr C Bowman is the majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.