Feusd Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC314546 (Scotland)

Abbreviated Unaudited Accounts

for the Period 6 April 2014 to 31 March 2015

for

Feusd Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr T J H Inglis

REGISTERED OFFICE:

7.05 Appleton Tower

Edinburgh

EH8 9LE

REGISTERED NUMBER:

SC314546 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

FIXED ASSETS

Tangible assets

2

597

1,174

CURRENT ASSETS

Debtors

5,035

3,106

Cash at bank

11,974

8,467

17,009

11,573

CREDITORS

Amounts falling due within one year

9,263

13,438

NET CURRENT ASSETS/(LIABILITIES)

7,746

(1,865

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,343

(691

)

CREDITORS

Amounts falling due after more than one year

3

227,999

231,274

NET LIABILITIES

(219,656

)

(231,965

)

CAPITAL AND RESERVES

Called up share capital

4

95,002

1

Profit and loss account

(314,658

)

(231,966

)

SHAREHOLDERS' FUNDS

(219,656

)

(231,965

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 5 May 2015 and were signed by:

Mr T J H Inglis - Director

1.	ACCOUNTING POLICIES

Going concern

At the balance sheet date, the company's liabilities exceeded its assets by £219,656 (2014 -

£231,965). The company meets its day to day working capital from loans from the the director and

family members. The balance due to the director from the company at the year end is £224,999 (2014

- £186,274). The financial statements have been prepared on a going concern basis, which assumes

that the company will continue in operational existence for the foreseeable future. If the company was

unable to continue in operational existence for the foreseeable future adjustments would have to be

made to amend the balance sheet values to their recoverable amounts and to provide for further

liabilities that may arise. The director believes that the financial statements should be prepared on a

going concern basis and that appropriate funding will be available if required.

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 services, 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 etc

-

33% on cost

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 6 April 2014

and 31 March 2015

3,475

DEPRECIATION

At 6 April 2014

2,301

Charge for period

577

At 31 March 2015

2,878

NET BOOK VALUE

At 31 March 2015

597

At 5 April 2014

1,174

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31.3.15

5.4.14

£

£

Repayable otherwise than by instalments

3,000

45,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

5.4.14

value:

£

£

1

Ordinary

£1

1

1

799

Ordinary B

£62.5

8

50,001

-

100

Ordinary C

£225

22,500

-

100

Ordinary D

£225

22,500

-

95,002

1

799 B shares of £62.58 were issued during the year. The shares were paid for by partial conversion of

the Directors loan for Mr T Inglis.

100 C and 100 D shares of £225 were issued during the year to Mr R and Mrs H Inglis respectively.

The shares were paid for by partial conversion of their loan to the Company.