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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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FPD Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2017 |
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for |
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FPD Limited |
FPD Limited (Registered number: 05492255) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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FPD Limited |
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Company Information |
for the Year Ended 30 June 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Suite 203, 2nd Floor |
China House |
401 Edgware Road |
London |
NW2 6GY |
FPD Limited (Registered number: 05492255) |
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Balance Sheet |
30 June 2017 |
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30.6.17 | 30.6.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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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 directors acknowledge their responsibilities for: |
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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. |
FPD Limited (Registered number: 05492255) |
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Balance Sheet - continued |
30 June 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 Board of Directors on
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FPD Limited (Registered number: 05492255) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2017 |
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1. | STATUTORY INFORMATION |
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FPD Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention, and in accordance with the accounting policies set out below. |
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These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 |
July 2015. |
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No transitional adjustments were required in equity or profit and loss for the year. |
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Changes in accounting policies |
There have been no changes in accounting policies as a result of the transition to FRS 102. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. Management and consultancy fees are recognised as the service is |
provided. Rent received is recognised over the period of rental. |
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Tangible fixed assets |
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Computer equipment | - |
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Investment property |
In accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The |
Financial Reporting Standard applicable in the UK and Republic of Ireland", investment properties are revalued |
annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in |
respect of investment properties. |
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The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the |
generally accepted accounting principle set out in section 1A "Small Entities" of Financial Reporting Standard |
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The director considers |
that because the property is not held for consumption but for its investment potential, to depreciate it would not |
give true and fair view, and that is necessary to adopt section 1A "Small Entities" of Financial Reporting |
Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" in order to give |
true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount |
which might otherwise have been shown cannot be separately identified or quantified. |
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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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FPD Limited (Registered number: 05492255) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 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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Provisions and accruals |
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and |
the amount can be reliably estimated. Provisions are not recognised for future operating losses. |
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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 |
Computer |
equipment |
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COST |
At 1 July 2016 |
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Additions |
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At 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2016 |
and 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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In the opinion of the directors, the market value of the properties at the balance sheet date was £875,035 on an |
open market basis. |
FPD Limited (Registered number: 05492255) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Trade creditors | ( |
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Tax |
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VAT | 9,594 | 4,091 |
Other creditors - client |
account | 7,508 | 17,286 |
Net wages control | 22,775 | - |
Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.17 | 30.6.16 |
£ | £ |
Bank loans (see note 8) |
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Directors' current accounts | 130,074 | 186,516 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Mortgage account | 673,428 | 673,428 |
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8. | LOANS |
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An analysis of the maturity of loans is given below: |
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30.6.17 | 30.6.16 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Mortgage account | 673,428 | 673,428 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.6.17 | 30.6.16 |
£ | £ |
Bank loans |
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Bank loans are secured by a fixed charge on company's fixed assets in favour of TSB Bank Plc, and Godiva |
Mortgage. |