Fearnley & Fearnley Limited Small abbreviated accounts

FEARNLEY & FEARNLEY LIMITED - Company Information

FY Private Limited Company Company accounts 2016-10-26 2016-10-26 false false false false false false false false false false false false false true Fearnley & Fearnley Limited 09448127 2016-02-28 2015-02-19 true xbrli:pure xbrli:shares iso4217:GBP 09448127 2015-02-19 2016-02-28 09448127 2016-02-28 09448127 uk-gaap:OfficeEquipment 2015-02-19 2016-02-28 09448127 uk-bus:OrdinaryShareClass1 2015-02-19 2016-02-28 09448127 uk-bus:Director1 2015-02-19 2016-02-28 09448127 uk-gaap:AllSubsidiaries 2015-02-19 2016-02-28 09448127 uk-bus:OrdinaryShareClass1 2016-02-28 09448127 uk-lang:English 2015-02-19 2016-02-28 09448127 uk-curr:PoundSterling 2015-02-19 2016-02-28

COMPANY REGISTRATION NUMBER 09448127

FEARNLEY & FEARNLEY LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED

28 FEBRUARY 2016

RE Jones and Co

FEARNLEY & FEARNLEY LIMITED

ABBREVIATED BALANCE SHEET

28 February 2016

	28 Feb 16
Note	£
FIXED ASSETS	2
Tangible assets	1,321

CREDITORS: Amounts falling due within one year	480
	-------
TOTAL ASSETS LESS CURRENT LIABILITIES	841

CREDITORS: Amounts falling due after more than one year	11,806
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	( 10,965)
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CAPITAL AND RESERVES

Called up equity share capital	3	100
Profit and loss account	( 11,065)
	---------
DEFICIT	( 10,965)
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For the period from 19 February 2015 to 28 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved by the directors and authorised for issue on 25 October 2016 , and are signed on their behalf by:

Mr M Fearnley Director

Company Registration Number: 09448127

RE Jones and Co

FEARNLEY & FEARNLEY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

PERIOD FROM 19 FEBRUARY 2015 TO 28 FEBRUARY 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment-25% Reducing Balance

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is 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 is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

2. FIXED ASSETS

	Tangible Assets
	£

COST

Additions	1,778
	-------
At 28 February 2016	1,778
	-------

DEPRECIATION

Charge for period	457
	----
At 28 February 2016	457
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NET BOOK VALUE

At 28 February 2016	1,321
	-------

At 18 February 2015	–
	-------

3. SHARE CAPITAL

Allotted, called up and fully paid:

No.	£
Ordinary shares of £ 1 each	100	100
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