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REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MAY 2017 |
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FOR |
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FASTRAC INTERIORS LIMITED |
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REGISTERED NUMBER:
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ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MAY 2017 |
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FOR |
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FASTRAC INTERIORS LIMITED |
FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2017 |
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Page |
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Abridged Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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ABRIDGED BALANCE SHEET |
31ST MAY 2017 |
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31.5.17 | 31.5.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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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 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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ABRIDGED BALANCE SHEET - continued |
31ST MAY 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2017 |
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1. | STATUTORY INFORMATION |
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Fastrac Interiors Limited is a
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The company's registered number and registered office address are as below: |
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Registered number: | 03582197 |
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Registered office: | The Foundry |
9 Park Lane |
Puckeridge |
Ware |
Hertfordshire |
SG11 1RL |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of work undertaken during the year, stated net of value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the |
period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1st June 2016 |
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Additions |
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At 31st May 2017 |
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DEPRECIATION |
At 1st June 2016 |
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Charge for year |
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At 31st May 2017 |
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NET BOOK VALUE |
At 31st May 2017 |
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At 31st May 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.17 | 31.5.16 |
£ | £ |
Other debtors |
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FASTRAC INTERIORS LIMITED (REGISTERED NUMBER: 03582197) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2017 |
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6. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £16,500 (2016 - £20,400) were paid to the director . |
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7. | ULTIMATE CONTROLLING PARTY |
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The controlling party is S Harris. |
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The ultimate controlling party is
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