08227493 2014-10-01 false true 2015-09-302015-09-30Turnover comprises revenue recognised by the company in respect of floor restoration, treatment and cleaning services during the year, 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. 08227493 c:EntityAccountantsOrAuditors 2015-09-30 08227493 2014-10-01 2015-09-30 08227493 2015-09-30 08227493 2014-09-30 08227493 d:MotorVehicles 2014-10-01 2015-09-30 08227493 c:OrdinaryShareClass1 2015-09-30 08227493 c:OrdinaryShareClass1 2014-09-30 08227493 c:OrdinaryShareClass1 2014-10-01 2015-09-30 08227493 c:OrdinaryShareClass2 2015-09-30 08227493 c:OrdinaryShareClass2 2014-09-30 08227493 c:OrdinaryShareClass2 2014-10-01 2015-09-30 08227493 c:Director2 2014-10-01 2015-09-30 08227493 d:PlantMachinery 2014-10-01 2015-09-30 08227493 c:EntityAccountantsOrAuditors 2014-10-01 2015-09-30 xbrli:shares iso4217:GBP

Registered number: 08227493










FLOOR REFINISHING LIMITED








UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

 
FLOOR REFINISHING LIMITED
 
 
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 6) have been prepared.
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FLOOR REFINISHING LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2015

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 Limited for the year ended 30 September 2015 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 Limited, as a body, in accordance with the terms of our engagement letter dated 10 October 2012Our work has been undertaken solely to prepare for your approval the financial statements of Floor Refinishing Limited and state those matters that we have agreed to state to the Board of directors of Floor Refinishing Limited, 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 Limited and its Board of directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that Floor Refinishing Limited 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 Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Floor Refinishing Limited. 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.





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

22 July 2016
Page 1

 
FLOOR REFINISHING LIMITED
REGISTERED NUMBER: 08227493

ABBREVIATED BALANCE SHEET
AS AT 30 SEPTEMBER 2015

2015
2014
Note
£
£
£
£
 
FIXED ASSETS





 
Tangible assets
 
2
11,617
11,509
 
CURRENT ASSETS





 
Stocks
29,483
21,909

 
Debtors
24,859
14,942

 
Cash at bank

13,583
5,482







 
67,925
42,333
 
CREDITORS: amounts falling due within one year
(49,522)
(42,427)
 
NET CURRENT ASSETS/(LIABILITIES)


18,403

(94)
 
TOTAL ASSETS LESS CURRENT LIABILITIES
30,020
11,415
 
CREDITORS: amounts falling due after more than one year
3
(30,000)

(30,000)
 
PROVISIONS FOR LIABILITIES





 
Deferred tax
(314)
-

NET LIABILITIES




£(294)


£(18,585)
  
CAPITAL AND RESERVES

 
Called up share capital
4
2
2
 
Profit and loss account
(296)
(18,587)
 
SHAREHOLDERS' DEFICIT
 

£(294)

£(18,585)


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 year 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 2015 and of its profit for the year 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.


Page 2

 
FLOOR REFINISHING LIMITED
 
    
ABBREVIATED BALANCE SHEET (continued)
AS AT 30 SEPTEMBER 2015

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 21 July 2016.





Mrs D A Woods
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
FLOOR REFINISHING LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015

1.ACCOUNTING POLICIES

1.1
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 January 2015).

1.2
Cash flow

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 January 2015).

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of floor restoration, treatment and cleaning services during the year, 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.

1.4
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:

Equipment
-
15% reducing balance
Motor vehicles
-
25% reducing balance

1.5
Operating leases

Rentals under operating leases are charged to the Profit and loss account on a straight line basis over the lease term.

1.6
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.

Page 4

 
FLOOR REFINISHING LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015

1.ACCOUNTING POLICIES (continued)

1.7
Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.


2.TANGIBLE FIXED ASSETS



£


Cost 


At 1 October 2014
17,649

Additions
3,716

Disposals
(1,800)


At 30 September 2015

19,565



Depreciation


At 1 October 2014
6,140

Charge for the year
2,567

On disposals
(759)


At 30 September 2015

7,948




Net book value


At 30 September 2015
£11,617


At 30 September 2014

£11,509


3.CREDITORS:
Amounts falling due after more than one year

Creditors include amounts not wholly repayable within 5 years as follows:

        2015
        2014
        £
        £



Repayable other than by instalments
£30,000
£30,000

Page 5

 
FLOOR REFINISHING LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015

4.SHARE CAPITAL
        2015
        2014
        £

        £

Allotted, called up and fully paid



1 'A' Ordinary share of £1
1
1
1 'B' Ordinary share of £1
1
1

£2

£2

Page 6