Registered Number
:
09590401
|
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
FS 2015 Limited
Statement of Financial Position
2017
2018
2,211,000
2,211,000
2
2,211,000
2,211,000
Trade and other receivables
|
-
330,257
3
97,597
Cash and cash equivalents
|
294,149
624,406
97,597
Trade and other payables
:
amounts falling due within one year
|
(231,418)
(300)
4
(133,821)
624,106
Net current assets
Total assets less current liabilities
|
2,835,106
2,077,179
Trade and other payables
:
amounts falling due after more than
|
one year
|
(1,409,113)
(851,394)
5
1,983,712
Net assets
668,066
30
30
1,983,682
668,036
1,983,712
668,066
Shareholders' funds
For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
Mr Nicholas John Buchan Director
|
These financial statements were approved and authorised for issue by the Board on 26 June 2018 and were signed by:
|
The notes form part of these financial statements
|
1 of 5
For the year ended 31 March 2018
FS 2015 Limited
Notes to the Financial Statements
Statutory Information
FS
2015
Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
09590401
.
|
North Wood Place
Octagon Business Park, Little Plumstead
Norwich
Norfolk
NR13 5FH
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A
"
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
.
|
Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.
|
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes.
|
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. 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. 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.
|
2 of 5
For the year ended 31 March 2018
FS 2015 Limited
Notes to the Financial Statements Continued
Financial Instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade
|
and other accounts receivable and payable
,
loans from banks and other third parties and loans to related parties
.
|
a
)
Trade and other debtors
|
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest
|
method
,
less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial
.
In
|
such cases
,
the receivables are stated at cost less impairment losses for bad and doubtful debts
.
|
b
)
Cash and cash equivalents
|
Cash and cash equivalents comprise cash at bank and in hand
.
|
c
)
Impairment of financial assets
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective
|
evidence of impairment
.
If objective evidence of impairment is found
,
an impairment loss is recognised in profit or loss
.
|
For financial assets measured at amortised cost
,
the impairment loss is measured as the difference between an asset
'
s
|
carrying amount and the present value of estimated cash flows discounted at the asset
'
s original effective interest rate
.
If a
|
financial asset has a variable interest rate
,
the discount rate for measuring any impairment loss is the current effective interest
|
rate determined under the contract
.
|
For financial assets measured at cost less impairment
,
the impairment loss is measured as the difference between an asset
'
s
|
carrying amount and the best estimate
,
which is an approximation
,
of the amount that the company would receive for the
|
asset if it were to be sold at the reporting date
.
|
d
)
Trade and other creditors
|
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and
|
subsequently at amortised cost using the effective interest method
.
Debt instruments that are payable within one year
,
|
typically trade payables
,
are measured
,
initially and subsequently
,
at the undiscounted amount of the cash or other
|
consideration expected to be paid
.
However
,
if the arrangements of a short
-
term instrument constitute a financing transaction
,
|
like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market
|
rate or in case of an outright short
-
term loan not at market rate
,
the financial asset is measured
,
initially and subsequently
,
at
|
the present value of the future payments discounted at a market rate of interest for a similar debt instrument
.
|
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an
|
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and
|
settle the liability simultaneously
.
|
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
.
|
Current or deferred taxation assets and liabilities are not discounted
.
|
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 statement of financial position date
.
|
Impairment of non-financial assets
At each reporting date non
-
financial assets not carried at fair value
,
like plant and equipment
,
are reviewed to determine
|
whether there is an indication that an asset may be impaired
.
If there is an indication of possible impairment
,
the recoverable
|
amount of any asset or group of related assets
,
which is the higher of value in use and the fair value less cost to sell
,
is
|
estimated and compared with its carrying amount
.
If the recoverable amount is lower
,
the carrying amount of the asset is
|
reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss
.
|
Inventories are also assessed for impairment at each reporting date
.
Each item of inventory is compared to the last sold date
|
and an impairment loss recognised on a percentage basis in profit and loss
.
|
If an impairment loss is subsequently reversed
,
the carrying amount of the asset or group of related assets is increased to the
|
revised estimate of its recoverable amount
,
but not to exceed the amount that would have been determined had no
|
impairment loss been recognised for the asset or group of related assets in prior periods
.
A reversal of an impairment loss is
|
recognised immediately in profit and loss
.
|
3 of 5
For the year ended 31 March 2018
FS 2015 Limited
Notes to the Financial Statements Continued
2
.
Investments held as fixed assets
|
Shares in group and participating interests
|
2,211,000
2,211,000
2,211,000
2,211,000
2,211,000
2,211,000
2,211,000
2,211,000
3
.
Trade and other receivables
|
2017
2018
Amounts owed by directors
|
330,257
-
4
.
Trade and other payables
:
amounts falling due within one year
|
2017
2018
Amounts owed to group undertaking and undertaking in which the company
|
has a participating interest
|
-
11,118
Accruals and deferred income
|
300
300
-
220,000
300
231,418
5
.
Trade and other payables
:
amounts falling due after more than one year
|
2017
2018
851,394
1,409,113
6
.
Related party transactions
|
Related party transactions were entered into during the year
.
These transactions entirely relate to the director
'
s loan account
.
|
Please see note
7
for further information
.
|
4 of 5
For the year ended 31 March 2018
FS 2015 Limited
Notes to the Financial Statements Continued
7
.
Directors advances and guarantees
|
Loaned
Mr Stephen Mallett
Monies advanced (repaid 6th April 2018) with no interest charged
|
330,257
-
330,257
330,257
-
330,257
8
.
Average number of persons employed
|
During the year the average number of employees was 0
5 of 5