FREEMARK_ENTERPRISES_(UK) - Accounts

FREEMARK ENTERPRISES (UK) LIMITED - Company Information

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Company Registration No. 03606281 (England and Wales)

FREEMARK ENTERPRISES (UK) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

FREEMARK ENTERPRISES (UK) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

FREEMARK ENTERPRISES (UK) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

12,348

16,465

Current assets

Debtors

47,103

80,821

Cash at bank and in hand

14,727

19,739

61,830

100,560

Creditors: amounts falling due within one year

(136,589)

(183,084)

Net current liabilities

(74,759)

(82,524)

Total assets less current liabilities

(62,411)

(66,059)

Capital and reserves

Called up share capital

100

Profit and loss account

(62,511)

(66,159)

Shareholders' funds

(62,411)

(66,059)

For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board and authorised for issue on 30 June 2015

Mr Rene Loewy

Director

Company Registration No. 03606281

FREEMARK ENTERPRISES (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

The accounts have been prepared on a going concern basis although the total liabilities of the company exceeded its total assets by £62,411 at the balance sheet date.

The ability of the company to continue trading is dependent upon the continued financial support of the director. The director is confident that she has the financial resources to fund the existing net asset deficit and the current working capital requirement. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the director's support.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

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 less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

25% written down value

Fixtures, fittings & equipment

25% written down value

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

FREEMARK ENTERPRISES (UK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 3 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 October 2013 & at 30 September 2014

6,000

67,578

73,578

Depreciation

At 1 October 2013

6,000

51,113

57,113

Charge for the year

4,117

At 30 September 2014

6,000

55,230

61,230

Net book value

At 30 September 2014

12,348

At 30 September 2013

16,465

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary of £1 each

100