Registered number: 08227493
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
|
The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FLOOR REFINISHING LTD
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Floor Refinishing Ltd for the period ended 30 September 2013 which comprise the Profit and loss account, the Balance sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of directors of Floor Refinishing Ltd, as a body, in accordance with the terms of our engagement letter dated 10 October 2012. Our work has been undertaken solely to prepare for your approval the financial statements of Floor Refinishing Ltd and state those matters that we have agreed to state to the Board of directors of Floor Refinishing Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Floor Refinishing Ltd and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that Floor Refinishing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit. You consider that Floor Refinishing Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or review of the financial statements of Floor Refinishing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
|
REGISTERED NUMBER: 08227493
ABBREVIATED BALANCE SHEET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
|
|
|
|
|
PROVISIONS FOR LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2013 and of its profit for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
|
ABBREVIATED BALANCE SHEET (continued)
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 24 June 2014.
The notes on pages 4 to 5 form part of these financial statements.
|
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
|
|
|
|
|
|
|
Basis of preparation of financial statements
|
|
|
|
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
|
|
|
|
|
|
|
|
|
|
|
The financial statements do not include a Cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).
|
|
|
|
|
|
|
|
|
|
|
|
Turnover comprises revenue recognised by the company in respect of floor restoration, treatment and cleaning services during the period, exclusive of Value Added Tax and trade discounts.
Revenue is recognised to the extent that the company has obtained the right to consideration through its performance of its contractual obligations.
|
|
|
|
|
|
|
|
|
Tangible fixed assets and depreciation
|
|
|
|
|
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, over their expected useful lives, on the following bases:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.
|
|
|
|
|
|
|
|
Stocks and work in progress
|
|
|
|
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost is valued on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
|
|
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allotted, called up and fully paid
|
|
|
|
|
|
|
|
|
|
1 'A' Ordinary shares of £1 each share of £1
|
|
|
|
|
1 'B' Ordinary shares of £1 each share of £1
|
|
|
|
|
|
|
|
|
|
|
|
During the year the company issued 2 ordinary shares of £1 each at par.
|