Company Registration No. 01442066 (England and Wales)
F AND J NEWSCENTRE LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
F AND J NEWSCENTRE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
F AND J NEWSCENTRE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
31,241
34,768
Current assets
Stocks
40,598
44,564
Debtors
6,973
4,810
Cash at bank and in hand
142,571
161,320
190,142
210,694
Creditors: amounts falling due within one year
3
(78,316)
(71,853)
Net current assets
111,826
138,841
Total assets less current liabilities
143,067
173,609
Creditors: amounts falling due after more than one year
4
-
(16,067)
Provisions for liabilities
(6,249)
(6,954)
136,818
150,588
Capital and reserves
Called up share capital
5
100
100
Profit and loss account
136,718
150,488
Shareholders' funds
136,818
150,588
For the financial year ended 31 December 2015 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 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 financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 May 2016
Mrs J Berrisford
Mr M Berrisford
Director
Director
Company Registration No. 01442066
F AND J NEWSCENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures and fittings
15 % per annum of net book value
Motor vehicles
25 % per annum of net book value
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.
F AND J NEWSCENTRE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
11,000
166,759
177,759
Additions
-
4,169
4,169
At 31 December 2015
11,000
170,928
181,928
Depreciation
At 1 January 2015
11,000
131,991
142,991
Charge for the year
-
7,696
7,696
At 31 December 2015
11,000
139,687
150,687
Net book value
At 31 December 2015
-
31,241
31,241
At 31 December 2014
-
34,768
34,768
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £16,067 (2014 - £4,713).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £Nil (2014 - £16,067).
5
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100