Fast Business Association Limited - Accounts to registrar (filleted) - small 18.1

Fast Business Association Limited - Accounts to registrar (filleted) - small 18.1

FAST BUSINESS ASSOCIATION LIMITED - Company Information

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REGISTERED NUMBER: 04553889 (England and Wales)















ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

FAST BUSINESS ASSOCIATION LIMITED
FAST BUSINESS ASSOCIATION LIMITED (REGISTERED NUMBER: 04553889)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

FAST BUSINESS ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTOR: M C Burt





SECRETARY: First Instance Secretariat Limited





REGISTERED OFFICE: Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU





REGISTERED NUMBER: 04553889 (England and Wales)





ACCOUNTANTS: Barrett & Monetaire
Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU
1
FAST BUSINESS ASSOCIATION LIMITED (REGISTERED NUMBER: 04553889)

ABRIDGED BALANCE SHEET
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,132 1,510

CURRENT ASSETS
Debtors 150 -
Investments 268 -
Cash at bank 1,715 1,543
2,133 1,543
CREDITORS
Amounts falling due within one year 119,876 116,457
NET CURRENT LIABILITIES (117,743 ) (114,914 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(116,611
)
(113,404
)

PROVISIONS FOR LIABILITIES 215 287
NET LIABILITIES (116,826 ) (113,691 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (116,830 ) (113,695 )
SHAREHOLDERS' FUNDS (116,826 ) (113,691 )

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 notes form part of these financial statements

2
FAST BUSINESS ASSOCIATION LIMITED (REGISTERED NUMBER: 04553889)

ABRIDGED BALANCE SHEET - continued
31 DECEMBER 2017


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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 25 September 2018 and were signed by:





M C Burt - Director


The notes form part of these financial statements

3
FAST BUSINESS ASSOCIATION LIMITED (REGISTERED NUMBER: 04553889)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. STATUTORY INFORMATION

Fast Business Association 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.

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.
Plant and machinery etc - 25% on reducing balance

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 2 (2016 - 2 ) .

4
FAST BUSINESS ASSOCIATION LIMITED (REGISTERED NUMBER: 04553889)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2017
and 31 December 2017 5,472
DEPRECIATION
At 1 January 2017 3,962
Charge for year 378
At 31 December 2017 4,340
NET BOOK VALUE
At 31 December 2017 1,132
At 31 December 2016 1,510

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017 and
31 December 2016:

2017 2016
£    £   
M C Burt
Balance outstanding at start of year - -
Amounts advanced 13,274 -
Amounts repaid (67,851 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (54,577 ) -

A J Burt
Balance outstanding at start of year - -
Amounts repaid (64,107 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (64,107 ) -

Within creditors is a loan from the directors of £118,684 (2016: £115,526). The directors have undertaken not
to draw down on this loan the detriment of the company and, as such, consider it appropriate to prepare the
accounts on the going concern basis.

6. INSOLVENT POSITION

The directors realise that the company is trading insolvently and are aware of their responsibilities under the
provisions of the Insolvency Act 1986.

5
FAST BUSINESS ASSOCIATION LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
FAST BUSINESS ASSOCIATION LIMITED

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 three to seven 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.






Barrett & Monetaire
Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU


25 September 2018

This page does not form part of the statutory financial statements

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