Registered Number SC366981
FLOODING RISK ASSESSMENTS LIMITED
Abbreviated Accounts
31 October 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In accordance with the principles of revenue recognition, income is recognised as the right to consideration through performance of contractual obligations, and is included in the financial statements when the company is legally entitled to the income.
Other accounting policies
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Going concern
The financial statements have been prepared on the going concern basis, despite the fact that total liabilities exceeded total assets at the year end. The directors recognise the need to support the company financially as it is a newly established business and are confident that it will become profitable in the near future.