Fast Track Business Finance Limited - Abbreviated accounts 16.3

Fast Track Business Finance Limited - Abbreviated accounts 16.3

FAST TRACK BUSINESS FINANCE LIMITED - Company Information

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REGISTERED NUMBER: 09010153 (England and Wales)















Fast Track Business Finance Limited

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016













Fast Track Business Finance Limited (Registered number: 09010153)






Contents of the Abbreviated Accounts
for the year ended 30 September 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Fast Track Business Finance Limited

Company Information
for the year ended 30 September 2016







DIRECTORS: RW Traynor
AM Ward
SL Bryden





REGISTERED OFFICE: 28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA





REGISTERED NUMBER: 09010153 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA
Page 1
Fast Track Business Finance Limited (Registered number: 09010153)

Abbreviated Balance Sheet
30 September 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 6,685 11,685

CURRENT ASSETS
Debtors 198,562 139,188
Cash at bank 36,650 14,707
235,212 153,895
CREDITORS
Amounts falling due within one year 208,692 170,278
NET CURRENT ASSETS/(LIABILITIES) 26,520 (16,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
33,205
(4,698
)

CAPITAL AND RESERVES
Called up share capital 3 1 1
Profit and loss account 33,204 (4,699 )
SHAREHOLDERS' FUNDS 33,205 (4,698 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 22 June 2017 and were signed on its
behalf by:





AM Ward - Director


The notes form part of these abbreviated accounts

Page 2
Fast Track Business Finance Limited (Registered number: 09010153)

Notes to the Abbreviated Accounts
for the year ended 30 September 2016

1. ACCOUNTING POLICIES

Accounting convention
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).

The financial statements have been prepared on a going concern basis despite the excess of liabilities
over assets, as the directors have indicated their willingness to continue to support the company.

Turnover
Turnover represents interest, commissions and fees earned in respect of loans made. Interest is
accrued for on a monthly basis. Commission and fees are recognised on inception of the loan.
Penalty fees and default charges are recognised at the time of default and on an ongoing basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment and software - 33% on cost

Bad and doubtful debts
Specific provision for bad debts is made where an amount is in arrears of repayment and in the opinion
of the directors doubt exists regarding the recoverability of that debt. General provisions are made in
respect of bad debts which have not been separately identified but are known from experience to be
present in any portfolio of lending.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2015
and 30 September 2016 15,000
DEPRECIATION
At 1 October 2015 3,315
Charge for year 5,000
At 30 September 2016 8,315
NET BOOK VALUE
At 30 September 2016 6,685
At 30 September 2015 11,685

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1 Ordinary £1 1 1

4. ULTIMATE PARENT COMPANY

Reparo Fast Track Finance Group Limited is regarded by the directors as being the company's
ultimate parent company.

Page 3