Frames By Post Limited - Limited company - abbreviated

FRAMES BY POST LIMITED

Abbreviated Unaudited Accounts

For The Year Ended 30 September 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Miss S Gibbons

Mr M Saunders

SECRETARY:

Miss S Gibbons

REGISTERED OFFICE:

1 - 5 Nelson Street

Southend on Sea

Essex

SS1 1EG

REGISTERED NUMBER:

05564614 (England and Wales)

FIXED ASSETS

Tangible assets

2

19,569

7,342

CURRENT ASSETS

Stocks

89,623

65,435

Debtors

10,803

11,123

Cash at bank and in hand

13,482

23,840

113,908

100,398

CREDITORS

Amounts falling due within one year

90,318

70,070

NET CURRENT ASSETS

23,590

30,328

TOTAL ASSETS LESS CURRENT
LIABILITIES

43,159

37,670

PROVISIONS FOR LIABILITIES

3,140

1,468

NET ASSETS

40,019

36,202

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

39,919

36,102

SHAREHOLDERS' FUNDS

40,019

36,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2013 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 March 2014 and were signed on its behalf by:

Miss S Gibbons - Director

Mr M Saunders - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

In the opinion of the directors, it remains appropriate to continue to adopt the going concern basis of accounting.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2012

11,629

Additions

17,627

Disposals

(4,000

)

At 30 September 2013

25,256

DEPRECIATION

At 1 October 2012

4,287

Charge for year

3,035

Eliminated on disposal

(1,635

)

At 30 September 2013

5,687

NET BOOK VALUE

At 30 September 2013

19,569

At 30 September 2012

7,342

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

100

Ordinary

£1

100

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors each held an interest of 50% in the total dividends paid by the company, during the year.