Frontier Windows & Doors Limited - Period Ending 2014-06-30

Frontier Windows & Doors Limited - Period Ending 2014-06-30


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Registration number: 07663790

Frontier Windows & Doors Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

 

Frontier Windows & Doors Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Frontier Windows & Doors Limited
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Frontier Windows & Doors Limited for the year ended 30 June 2014 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising 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/membershandbook.

This report is made solely to the Board of Directors of Frontier Windows & Doors Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Frontier Windows & Doors Limited and state those matters that we have agreed to state to them, 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 Frontier Windows & Doors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Frontier Windows & Doors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Frontier Windows & Doors Limited. You consider that Frontier Windows & Doors Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Frontier Windows & Doors 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 accounts.

......................................

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

15 October 2014

 

Frontier Windows & Doors Limited
(Registration number: 07663790)
Abbreviated Balance Sheet at 30 June 2014

   

Note

   

2014
£

   

2013
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

1,421

   

1,895

 

Current assets

 

             

Debtors

 

   

3,305

   

6,291

 

Cash at bank and in hand

 

   

26,196

   

19,045

 
   

   

29,501

   

25,336

 

Creditors: Amounts falling due within one year

 

   

(21,490)

   

(23,575)

 

Net current assets

 

   

8,011

   

1,761

 

Net assets

 

   

9,432

   

3,656

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

9,332

   

3,556

 

Shareholders' funds

 

   

9,432

   

3,656

 

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

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

Approved by the Board on 15 October 2014 and signed on its behalf by:

.........................................
M J Osborne
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

Frontier Windows & Doors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1

Accounting policies

Basis of preparation

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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Frontier Windows & Doors Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 July 2013

 

2,959

   

2,959

 

At 30 June 2014

 

2,959

   

2,959

 

Depreciation

           

At 1 July 2013

 

1,064

   

1,064

 

Charge for the year

 

474

   

474

 

At 30 June 2014

 

1,538

   

1,538

 

Net book value

           

At 30 June 2014

 

1,421

   

1,421

 

At 30 June 2013

 

1,895

   

1,895

 

3

Share capital

Allotted, called up and fully paid shares

 

2014

2013

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

100

   

100

   

100

   

100

 
                         

4

Related party transactions

Directors' advances and credits

 

2014
Advance/ Credit
£

2014
Repaid
£

2013
Advance/ Credit
£

2013
Repaid
£

M J Osborne

Received advances during the year to which 4% interest charge has been applied

5,306

5,306

36,000

36,000

         
         

5

Control

The company is controlled by M J Osbourne, Director and majority shareholder.