Footloose Enterprises Limited Small abridged accounts

FOOTLOOSE ENTERPRISES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Footloose Enterprises Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 03127212

Footloose Enterprises Limited

Unaudited Abridged Financial Statements

31 March 2018

SR HOWELL & CO

Chartered Certified Accountants

88 High Street

Ramsey

Huntingdon

Cambs

PE26 1BS

Footloose Enterprises Limited

Abridged Financial Statements

Year Ended 31 March 2018

Contents	Pages

Officers and professional advisers	1

Abridged statement of financial position	2 to 3

Notes to the abridged financial statements	4 to 5

Footloose Enterprises Limited

Officers and Professional Advisers

The board of directors	Mr N Hughes
	Mrs J E Pedersen

Company secretary	Mrs J E Pedersen

Registered office	41 Northampton Road
	Bromham
	Bedford
	Bedfordshire
	MK43 8PB

Accountants	SR HOWELL & CO
	Chartered Certified Accountants
	88 High Street
	Ramsey
	Huntingdon
	Cambs
	PE26 1BS

Footloose Enterprises Limited

Abridged Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	6	2,328	2,999

Current assets

Debtors	3,214	6,017
Cash at bank and in hand	41,637	60,146
	--------	--------
	44,851	66,163

Creditors: Amounts falling due within one year	( 46,707)	( 68,814)
	--------	--------
Net current liabilities	( 1,856)	( 2,651)
	-------	-------
Total assets less current liabilities	472	348
	----	----
Net assets	472	348
	----	----

Capital and reserves

Called up share capital	300	300
Profit and loss account	172	48
	----	----
Members funds	472	348
	----	----

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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2018 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 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 abridged financial statements .

Footloose Enterprises Limited

Abridged Statement of Financial Position (continued)

31 March 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 12 June 2018 , and are signed on behalf of the board by:

„„„„„„„„„„„„„

Mr N Hughes Director

Company registration number: 03127212

Footloose Enterprises Limited

Notes to the Abridged Financial Statements

Year Ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Northampton Road, Bromham, Bedford, Bedfordshire, MK43 8PB.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

3.1 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.

3.2 Revenue recognition

Turnover comprises the invoice value of goods and services supplied by the company during the year, net of trade discounts.

3.3 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.

3.4 Tangible assets

Tangible fixed assets are stated at cost less depreciation.

3.5 Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25 - 33% reducing balance

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to 2 (2017: 2).

5. Profit before taxation

Profit before taxation is stated after charging:

	2018	2017
	£	£
Depreciation of tangible assets	834	1,087
	----	-------

6. Tangible assets

	£
Cost
At 1 April 2017	12,771
Additions	163
	--------
At 31 March 2018	12,934
	--------
Depreciation
At 1 April 2017	9,772
Charge for the year	834
	--------
At 31 March 2018	10,606
	--------
Carrying amount
At 31 March 2018	2,328
	--------
At 31 March 2017	2,999
	--------

7. Directors' advances, credits and guarantees

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

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 61,674)	17,318	( 44,356)
	--------	--------	--------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Two directors	( 81,140)	19,466	( 61,674)
	--------	--------	--------