Company Registration No. 03970731 (England and Wales)
CARL FREEDMAN LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
CARL FREEDMAN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CARL FREEDMAN LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2016
30 September 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
39,109
43,452
Current assets
Stocks
391,034
366,815
Debtors
64,674
60,558
Cash at bank and in hand
274,051
70,901
729,759
498,274
Creditors: amounts falling due within one year
(301,212)
(167,503)
Net current assets
428,547
330,771
Total assets less current liabilities
467,656
374,223
Capital and reserves
Called up share capital
3
2,175
2,175
Share premium account
28,479
28,479
Other reserves
86
86
Profit and loss account
436,916
343,483
Shareholders' funds
467,656
374,223
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 14 June 2017
Mr C Freedman
Director
Company Registration No. 03970731
CARL FREEDMAN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 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.
1.3
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:
Land and buildings Freehold
- Over the term of the lease
Land and buildings Leasehold
- Over the term of the lease
Plant and machinery
- 33% straight line
Fixtures, fittings & equipment
- 25% straight line
1.4
Stock
Stock is valued at the lower of cost and net realisable value.
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
136,543
Additions
3,023
Disposals
(2,792)
At 30 September 2016
136,774
Depreciation
At 1 October 2015
93,091
On disposals
(2,792)
Charge for the year
7,366
At 30 September 2016
97,665
Net book value
At 30 September 2016
39,109
At 30 September 2015
43,452
CARL FREEDMAN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1,302,204 shares Ordinary Shares of £0.00167 each
2,175
2,175