For the year ended 31 October 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 09273200
Notes to the Abbreviated Financial Statements
|
Finescale Models Limited
For the year ended 31 October 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the
|
estimated expected useful economic life of the goodwill of
5
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
2
Intangible fixed assets
|
5,000
5,000
1,000
1,000
Charge for year
2,000
3,000
4,000
2 of 3
Notes to the Abbreviated Financial Statements
|
Finescale Models Limited
For the year ended 31 October 2016
4,975
1,844
6,819
746
911
Charge for year
1,657
5,162
4,229
Allotted called up and fully paid
|
2016
2015
100
Ordinary Shares shares of £
1
.
00
each
|
100
100
100
100
3 of 3