REGISTERED NUMBER:
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Fisadco Engineering (1980) Limited |
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Abbreviated Unaudited Accounts for the Year Ended 31st October 2016 |
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REGISTERED NUMBER:
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Fisadco Engineering (1980) Limited |
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Abbreviated Unaudited Accounts for the Year Ended 31st October 2016 |
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Contents of the Abbreviated Accounts |
for the year ended 31st October 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Fisadco Engineering (1980) Limited |
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Company Information |
for the year ended 31st October 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Abbreviated Balance Sheet |
31st October 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
4 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
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. |
Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Abbreviated Balance Sheet - continued |
31st October 2016 |
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The financial statements were approved by the director on
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Notes to the Abbreviated Accounts |
for the year ended 31st October 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparation of financial statements |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents the value, excluding value added tax, of goods and services supplied to |
customers during the year. |
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Goodwill |
Goodwill is written off evenly over its estimated economic life of 10 years and is stated in the balance |
sheet at cost less amounts written off. |
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Depreciation |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Stock and work in progress is stated at the lower of cost and net realisable value. Cost represents that |
expenditure which has been incurred in the normal course of business in bringing the product or |
service to its present location and condition. |
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In the case of work in progress and finished goods, cost consists of direct materials, direct labour and |
attributable production and other overheads based on normal levels of activity. |
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Net realisable value means estimated selling price less all further costs to completion and all costs to |
be incurred in marketing, selling and distribution. |
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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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Leases and hire purchase contracts |
Assets acquired under finance leases and hire purchase contracts are treated as fixed assets. The |
amount capitalised is the present value of the minimum lease payments payable during the lease term. |
Depreciation is charged to the profit and loss account in accordance with the normal depreciation |
policy over the shorter of the lease term and the useful life of the assets. |
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The corresponding lease commitments are shown as liabilities. The interest element of rental |
obligation is charged to the profit and loss account over the period of the lease on a straight line basis. |
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Rentals payable under operating leases are charged to the profit and loss account over the period of |
the lease on a straight line basis. |
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Pension costs and other post-retirement benefits |
Contributions to provide pensions and related benefits are charged to the profit and loss account so as |
to recognise the cost over employee's working lives. |
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31st October 2016 |
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1. | ACCOUNTING POLICIES - continued |
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Government grants |
Government grants in respect of capital expenditure are credited to the profit and loss account over the |
estimated useful lives of the relevant fixed assets. The amount shown in the balance sheet as deferred |
government grants represents the total grants receivable to date less the amounts so far released to |
profit and loss account. |
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Grants of a revenue nature which are made to give immediate financial support or to reimburse costs |
previously incurred are credited to profit and loss account in the period in which they become |
receivable. |
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Grants of a revenue nature which are made to finance general activities over a specified period or to |
compensate for a loss of current or future income are credited to profit and loss account in the period |
in which they are paid. |
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Deferred taxation |
Deferred taxation is the taxation attributable to timing differences between profits computed for |
taxation purposes and profits as stated in the accounts. Provision is made for deferred taxation on the |
liability method, to the extent that the liability is expected to be payable in the foreseeable future. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1st November 2015 |
and 31st October 2016 |
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AMORTISATION |
At 1st November 2015 |
and 31st October 2016 |
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NET BOOK VALUE |
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At 31st October 2016 |
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At 31st October 2015 |
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31st October 2016 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1st November 2015 |
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Additions |
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At 31st October 2016 |
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DEPRECIATION |
At 1st November 2015 |
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Charge for year |
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At 31st October 2016 |
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NET BOOK VALUE |
At 31st October 2016 |
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At 31st October 2015 |
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4. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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2016 | 2015 |
£ | £ |
Repayable by instalments | 164,906 | 182,455 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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6. | ULTIMATE PARENT COMPANY |
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company. |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31st October 2016 |
and 31st October 2015: |
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2016 | 2015 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of year |
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Fisadco Engineering (1980) Limited (Registered number: 03262523) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31st October 2016 |
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7. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued |
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This is repayable on demand and interest is charged at 3%. |
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8. | RELATED PARTY DISCLOSURES |
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No disclosure has been made in respect of transactions carried out between the company and its |
ultimate parent company, Fisadco Engineering Limited, in accordance with the exemption provided by |
the Financial Reporting Standard for Smaller Entities (effective January 2015). |