Furbanks (The Stereotypers) Limited - Period Ending 2016-05-31

Furbanks (The Stereotypers) Limited - Period Ending 2016-05-31


Furbanks (The Stereotypers) Limited00852403falsetrue2015-06-012016-05-312016-05-31008524032015-06-012016-05-31008524032016-05-3100852403uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeNon-redeemableShares2016-05-3100852403uk-bus:Director22015-06-012016-05-3100852403uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeNon-redeemableShares2015-06-012016-05-3100852403uk-gaap:FixturesFittings2015-06-012016-05-3100852403uk-gaap:MotorVehicles2015-06-012016-05-3100852403uk-gaap:PlantMachinery2015-06-012016-05-31008524032015-05-31008524032015-05-3100852403uk-bus:OrdinaryShareClass1uk-bus:Non-cumulativeNon-redeemableShares2015-05-31iso4217:GBPxbrli:shares

Registration number: 00852403

Furbanks (The Stereotypers) Limited
 

 
Abbreviated Accounts
 

 
for the Year Ended 31 May 2016
 

 

Furbanks (The Stereotypers) Limited
Abbreviated Balance Sheet at 31 May 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

9,921

   

7,490

 

Current assets

 

             

Stocks

 

   

8,087

   

6,062

 

Debtors

 

   

28,639

   

66,278

 

Cash at bank and in hand

 

   

13,531

   

20,014

 
   

   

50,257

   

92,354

 

Creditors: Amounts falling due within one year

 

   

(23,531)

   

(56,560)

 

Net current assets

 

   

26,726

   

35,794

 

Total assets less current liabilities

 

   

36,647

   

43,284

 

Provisions for liabilities

 

   

(1,300)

   

(700)

 

Net assets

 

   

35,347

   

42,584

 

Capital and reserves

 

             

Called up share capital

 

3

   

4,600

   

4,600

 

Profit and loss account

 

   

30,747

   

37,984

 

Shareholders' funds

 

   

35,347

   

42,584

 

For the year ending 31 May 2016 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 .

These accounts were approved by the directors and authorised for issue on 22 February 2017 and are signed on their behalf by:

.........................................
 
P.L. Armstrong
 
Director
 
Company Registration Number: 00852403

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Furbanks (The Stereotypers) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016

1

Accounting policies

Basis of preparation

The full accounts, 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 January 2015).

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:

   

Plant & Machinery

10 years straight line basis

Fixtures & Fittings

10 years straight line basis

Motor Vehicles

10 years straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Operating lease agreements

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.

 

Furbanks (The Stereotypers) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 June 2015

 

102,042

   

102,042

 

Additions

 

6,128

   

6,128

 

Disposals

 

(5,995)

   

(5,995)

 

At 31 May 2016

 

102,175

   

102,175

 

Depreciation

           

At 1 June 2015

 

94,552

   

94,552

 

Charge for the year

 

3,697

   

3,697

 

Eliminated on disposals

 

(5,995)

   

(5,995)

 

At 31 May 2016

 

92,254

   

92,254

 

Net book value

           

At 31 May 2016

 

9,921

   

9,921

 

At 31 May 2015

 

7,490

   

7,490

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

4,600

   

4,600

   

4,600

   

4,600