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2017-04-01
Sage Accounts Production Advanced 2018 - FRS
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10320229
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10320229
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2017-04-01
2018-03-31
|
Statement of Consent to Prepare Abridged Financial Statements |
|
All of the members of Frogfish Group Ltd have consented to the preparation of 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:
10320229
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Financial Statements |
|
Year ended 31 March 2018
|
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
|
Abridged statement of financial position |
2 |
|
|
|
Notes to the abridged financial statements |
3 |
|
|
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Frogfish Group Ltd |
|
Year ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Frogfish Group Ltd for the year ended 31 March 2018, which comprise the abridged statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Frogfish Group Ltd, as a body, in accordance with the terms of our engagement letter dated 12 August 2016. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Frogfish Group Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frogfish Group Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Frogfish Group Ltd has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frogfish Group Ltd. You consider that Frogfish Group Ltd 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 abridged financial statements of Frogfish Group Ltd. 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 abridged financial statements.
MOORE GREEN
Chartered accountant
22 Friars Street
Sudbury
Suffolk
CO10 2AA
26 September 2018
|
Abridged Statement of Financial Position |
|
31 March 2018
Current assets
|
Stocks |
725 |
560 |
|
Debtors |
16,600 |
6,058 |
|
Cash at bank and in hand |
396 |
1,701 |
|
-------- |
------- |
|
17,721 |
8,319 |
|
|
|
|
Creditors: amounts falling due within one year |
8,654 |
5,869 |
|
-------- |
------- |
|
Net current assets |
9,067 |
2,450 |
|
------- |
------- |
|
Total assets less current liabilities |
9,067 |
2,450 |
|
------- |
------- |
|
Net assets |
9,067 |
2,450 |
|
------- |
------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
8,967 |
2,350 |
|
------- |
------- |
|
Shareholders funds |
9,067 |
2,450 |
|
------- |
------- |
|
|
|
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 income statement 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
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 September 2018
, and are signed on behalf of the board by:
|
Mr R Kemsley |
Mrs J L Kemsley |
|
Director |
Director |
|
|
Company registration number:
10320229
|
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 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
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'.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4.
Directors' advances, credits and guarantees
There are no such transactions for the accounting period.
