Registered Number 01836890
FACTORY OUTLETS LIMITED
Abbreviated Accounts
28 July 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings & equipment - 25% reducing balance
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Other accounting policies
At 27 July 2015 the company had net liabilities of £416,173 (2014 - £287,032) and net current liabilities of £2,370,579 (2014 - £2,240,210). On the basis of this deficiency, Administrators were appointed on 15 July 2014. The company will continue to operate within the facility currently agreed and reliant on the continued support of the group companies who were owed £1,943,219 (2014 - £689,725), which is repayable on demand.
The financial statements do not include any adjustments that would result from withdrawal of support of the group companies.
£ | |
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Cost | |
At 29 July 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 28 July 2015 |
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Depreciation | |
At 29 July 2014 |
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Charge for the year |
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On disposals |
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At 28 July 2015 |
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Net book values | |
At 28 July 2015 | 1,954,406 |
At 28 July 2014 | 1,955,178 |