Foster N Ltd - Period Ending 2016-07-31

Registration number: 09149698

Foster N Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

Foster N Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Foster N Ltd
(Registration number: 09149698)
Abbreviated Balance Sheet at 31 July 2016

		Note			31 July 2016 £			31 July 2015 £
Fixed assets
Intangible fixed assets					10,285			10,285
Tangible fixed assets					101,702			-
					111,987			10,285
Current assets
Debtors					4,546			200,000
Cash at bank and in hand					285,211			128,149
					289,757			328,149
Creditors: Amounts falling due within one year					(249,627)			(138,836)
Net current assets					40,130			189,313
Net assets					152,117			199,598
Capital and reserves
Called up share capital		3			200,000			200,000
Profit and loss account					(47,883)			(402)
Shareholders' funds					152,117			199,598

For the year ending 31 July 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board on 27 April 2017 and signed on its behalf by:

.........................................
Mr Naji Abduljaleel Ibrahim Al-Saegh
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Foster N Ltd
(Registration number: 09149698)
Abbreviated Balance Sheet at 31 July 2016
......... continued

.........................................
Mr Salam Naji Abduljalil Al-Saegh
Director

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

Foster N Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... 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 January 2015).

Turnover

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

Amortisation

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

Asset class	Amortisation method and rate
Leasehold property	Over 15 years

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	25% reducing balance
Office Equipment	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.

Page 3

Foster N Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2015		10,285			-			10,285
Additions		-			131,399			131,399
At 31 July 2016		10,285			131,399			141,684
Depreciation
Charge for the year		-			29,697			29,697
At 31 July 2016		-			29,697			29,697
Net book value
At 31 July 2016		10,285			101,702			111,987
At 31 July 2015		10,285			-			10,285

3	Share capital

Allotted, called up and fully paid shares

	31 July 2016						31 July 2015
		No.			£			No.			£
Ordinary of £1 each		200,000			200,000			200,000			200,000

Page 4