FYTuning Limited - Accounts to registrar (filleted) - small 18.2
FYTuning Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
FYTUNING LIMITED |
Unaudited Financial Statements for the Year Ended 31 December 2017 |
FYTUNING LIMITED (REGISTERED NUMBER: 07941682) |
Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 6 |
FYTUNING LIMITED |
Company Information |
for the Year Ended 31 December 2017 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
FYTUNING LIMITED (REGISTERED NUMBER: 07941682) |
Balance Sheet |
31 December 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
FYTUNING LIMITED (REGISTERED NUMBER: 07941682) |
Balance Sheet - continued |
31 December 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on by: |
FYTUNING LIMITED (REGISTERED NUMBER: 07941682) |
Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
1. | STATUTORY INFORMATION |
FYTuning Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The 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. There were no material departures from that standard. |
These Financial Statements for the year ended 31 December 2016 are the first Financial Statements that comply |
with FRS102 Section 1A Small Entities. The date of transition is 1 January 2015. The transition to FRS102 |
Section 1A Small Entities has resulted in no changes in accountancy policies to those used previously. |
The presentation currency is £ Sterling. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. Sales are invoiced upon |
completion of the work undertaken. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
FYTUNING LIMITED (REGISTERED NUMBER: 07941682) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2017 |
and 31 December 2017 |
DEPRECIATION |
At 1 January 2017 |
Charge for year |
At 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 December 2016 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
£ | £ |
Directors' current accounts | 13,064 | 13,601 |
Accrued expenses |
7. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company owed the directors £13,063 (2016 - £13,601). The movement of £538 is |
accounted for by payments of £1,850 and expenses paid on behalf of the company of £1,312. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is the directors. |
9. | GOING CONCERN |
The company is reliant upon the continued use of funds introduced by the directors who have agreed not to |
withdraw these until the company can afford to do so. On this basis the accounts have been drawn up on a going |
concern basis. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
FYTuning Limited |
The following reproduces the text of the report prepared for the directors 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 Directors 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 FYTuning 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 Board of Directors of FYTuning Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FYTuning Limited and state those matters that we have agreed to state to the Board of Directors of FYTuning Limited, as a body, 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 FYTuning Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that FYTuning 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 loss of FYTuning Limited. You consider that FYTuning 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 FYTuning 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. |
Granville House |
2 Tettenhall Road |
Wolverhampton |
West Midlands |
WV1 4SB |
Date: ............................................. |