FAS Developments Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04058621 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

FAS DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

G E Barry

REGISTERED OFFICE:

2 Guion Street

Liverpool

Merseyside

L6 9DT

REGISTERED NUMBER:

04058621 (England and Wales)

ACCOUNTANTS:

ADC Accountants Limited

Chartered Cert. Accountants

15 Market Street

Standish

Wigan

Lancashire

WN6 0HW

FIXED ASSETS

Tangible assets

4

298,444

296,557

CURRENT ASSETS

Stocks

1,596,220

1,363,548

Debtors

5

118,504

335,318

Cash at bank and in hand

712,170

558,332

2,426,894

2,257,198

CREDITORS

Amounts falling due within one year

6

196,294

283,911

NET CURRENT ASSETS

2,230,600

1,973,287

TOTAL ASSETS LESS CURRENT LIABILITIES

2,529,044

2,269,844

CREDITORS

Amounts falling due after more than one year

7

294,588

-

NET ASSETS

2,234,456

2,269,844

CAPITAL AND RESERVES

Called up share capital

8

302

302

Retained earnings

9

2,234,154

2,269,542

SHAREHOLDERS' FUNDS

2,234,456

2,269,844

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 10 July 2018 and were signed by:

G E Barry - Director

1.	STATUTORY INFORMATION

FAS Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

at varying rates on cost

Plant and machinery etc

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2016 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

294,876

56,307

351,183

Additions

-

2,959

2,959

At 31 December 2017

294,876

59,266

354,142

DEPRECIATION

At 1 January 2017

-

54,626

54,626

Charge for year

-

1,072

1,072

At 31 December 2017

-

55,698

55,698

NET BOOK VALUE

At 31 December 2017

294,876

3,568

298,444

At 31 December 2016

294,876

1,681

296,557

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

77,883

294,681

Other debtors

40,621

40,637

118,504

335,318

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

10,515

55,778

Taxation and social security

75,424

108,329

Other creditors

110,355

119,804

196,294

283,911

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Other creditors

294,588

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

2

Ordinary

£1

2

2

100

B Class

£1

100

100

100

C Class

£1

100

100

100

D Class

£1

100

100

302

302

9.

RESERVES

Retained

earnings

£

At 1 January 2017

2,269,542

Profit for the year

218,383

Dividends

(253,771

)

At 31 December 2017

2,234,154

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

ADC Accountants Limited

Chartered Cert. Accountants

15 Market Street

Standish

Wigan

Lancashire

WN6 0HW

Date: .............................................