Company Registration No. 05085008 (England and Wales)
FOREST AVIATION FUELLING SYSTEMS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
FOREST AVIATION FUELLING SYSTEMS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
FOREST AVIATION FUELLING SYSTEMS LTD
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,659
14,544
Current assets
Stocks
3,100
4,000
Debtors
4,065
12,457
Cash at bank and in hand
16,328
8,203
23,493
24,660
Creditors: amounts falling due within one year
(24,476)
(31,359)
Net current liabilities
(983)
(6,699)
Total assets less current liabilities
16,676
7,845
Capital and reserves
Called up share capital
3
20
20
Profit and loss account
16,656
7,825
Shareholders' funds
16,676
7,845
For the financial year ended 30 April 2016 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 9 January 2017
Mr Gerald Ivall
Mrs Ann Ivall
Director
Director
Company Registration No. 05085008
FOREST AVIATION FUELLING SYSTEMS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 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 April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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
Plant and machinery
25% depreciation on a reducing balance basis.
Motor vehicles
25% depreciation on a reducing balance basis.
1.6
Leasing
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.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
FOREST AVIATION FUELLING SYSTEMS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015
19,000
33,831
52,831
Additions
-
7,967
7,967
Disposals
-
(2,000)
(2,000)
At 30 April 2016
19,000
39,798
58,798
Depreciation
At 1 May 2015
19,000
19,287
38,287
On disposals
-
(1,887)
(1,887)
Charge for the year
-
4,739
4,739
At 30 April 2016
19,000
22,139
41,139
Net book value
At 30 April 2016
-
17,659
17,659
At 30 April 2015
-
14,544
14,544
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
20 Ordinary A shares of £1 each
20
20