Flintriver Limited - Period Ending 2014-01-31

Registration number: SC211127

Flintriver Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Flintriver Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Flintriver Limited
(Registration number: SC211127)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					80,374			116,111
Investments					1			1
					80,375			116,112
Current assets
Stocks					550			550
Debtors					155,882			137,944
Cash at bank and in hand					7,333			17,682
					163,765			156,176
Creditors: Amounts falling due within one year					(158,686)			(147,602)
Net current assets					5,079			8,574
Total assets less current liabilities					85,454			124,686
Creditors: Amounts falling due after more than one year					(60,155)			(93,624)
Provisions for liabilities					(15,258)			(21,009)
Net assets					10,041			10,053
Capital and reserves
Called up share capital		3			100			10,000
Profit and loss account					9,941			53
Shareholders' funds					10,041			10,053

For the year ending 31 January 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 30 October 2014 and signed on its behalf by:

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Flintriver Limited
(Registration number: SC211127)
Abbreviated Balance Sheet at 31 January 2014
......... continued

.........................................
D O Williams
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Flintriver Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

1	Accounting policies

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

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
Fixtures and fittings	20% on cost
Motor vehicles	20% on cost
Computer equipment	25% on cost

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

Page 3

Flintriver Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 February 2013		256,989			1			256,990
Additions		1,278			-			1,278
Disposals		(10,285)			-			(10,285)
At 31 January 2014		247,982			1			247,983
Depreciation
At 1 February 2013		140,878			-			140,878
Charge for the year		31,868			-			31,868
Eliminated on disposals		(5,138)			-			(5,138)
At 31 January 2014		167,608			-			167,608
Net book value
At 31 January 2014		80,374			1			80,375
At 31 January 2013		116,111			1			116,112

Page 4

Flintriver Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

3	Share capital

Pursuant to Chapter 2 of part 13 of the Companies Act 2006, the directors of the company elected that on the 24th of August 2013, the issued share capital of the company, £10,000 divided into 10,000 shares of £1 each, was reduced to £100 divided into 100 ordinary shares of £1 each by the cancellation of 9,900 ordinary shares of £1 each.

On 21 August it was agreed that the company would apply to Companies House for a reduction of the copmany ordinary share capital under the terms of The Companies Reduction of Share Capital Order 2008 and Section 643 (3) of the Companies Act 2006.

This was approved on 23 August 2013 and the share capital was reduced from 10,000 shares to 100 shares.

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			10,000			10,000

4

Control

There is no ultimate controlling party

Page 5