Fast Fix UK Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 03718527 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 28 February 2015

for

Fast Fix UK Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr C.J. Conway

SECRETARY:

Mr C.J. Conway

REGISTERED OFFICE:

Fernhills Business Centre

Todd Street

Bury

Lancashire

BL9 5BJ

REGISTERED NUMBER:

03718527 (England and Wales)

ACCOUNTANTS:

Actua Business Services Ltd

1 Ash Cottages

Bury

Lancashire

BL8 1EZ

BANKERS:

Natwest Bank plc

15 Bridge Street

Ramsbottom

Bury

Lancashire

BL0 9WN

FIXED ASSETS

Tangible assets

2

35,497

17,202

CURRENT ASSETS

Stocks

6,000

11,000

Debtors

27,419

22,506

Cash at bank

7,229

9,060

40,648

42,566

CREDITORS

Amounts falling due within one year

3

64,135

79,171

NET CURRENT LIABILITIES

(23,487

)

(36,605

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,010

(19,403

)

CREDITORS

Amounts falling due after more than one year

3

23,845

-

NET LIABILITIES

(11,835

)

(19,403

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(11,837

)

(19,405

)

SHAREHOLDERS' FUNDS

(11,835

)

(19,403

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 23 November 2015 and were signed by:

Mr C.J. Conway - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company is reliant on the continuing support of the director and as such these accounts have been prepared

on a going concern basis.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 March 2014

38,211

Additions

27,995

At 28 February 2015

66,206

DEPRECIATION

At 1 March 2014

21,009

Charge for year

9,700

At 28 February 2015

30,709

NET BOOK VALUE

At 28 February 2015

35,497

At 28 February 2014

17,202

3.

CREDITORS

Creditors include an amount of £ 29,914 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.15

28.2.14

value:

£

£

2

Ordinary

£1

2

2

5.	ULTIMATE CONTROLLING PARTY