Fonejunkie.com Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05325847 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2018

for

FONEJUNKIE.COM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Foulds

Mrs H E Foulds

SECRETARY:

Mrs H E Foulds

REGISTERED OFFICE:

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

REGISTERED NUMBER:

05325847 (England and Wales)

ACCOUNTANTS:

Stanley Yule Chartered Accountants

Waterside House

Waterside Business Park

1649 Pershore Road

Birmingham

West Midlands

B30 3DR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

960

793

960

793

CURRENT ASSETS

Stocks

6

14,785

19,521

Debtors

7

54,275

26,001

Cash at bank

106,067

104,083

175,127

149,605

CREDITORS

Amounts falling due within one year

8

100,864

100,494

NET CURRENT ASSETS

74,263

49,111

TOTAL ASSETS LESS CURRENT LIABILITIES

75,223

49,904

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

75,221

49,902

SHAREHOLDERS' FUNDS

75,223

49,904

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 3 October 2018 and were signed on its behalf by:

R J Foulds - Director

1.	STATUTORY INFORMATION

Fonejunkie.com Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax arising from the sale

and supply of accessories. Income is recognised on despatch of goods or on delivery of a service.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Cost is defined as the initial purchase price including carriage and postage. Net realisable value is the estimated

proceeds from the sale of items of stock, less all further costs to be incurred in marketing, selling and

distributing the items in question.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2017

and 28 February 2018

20,000

AMORTISATION

At 1 March 2017

and 28 February 2018

20,000

NET BOOK VALUE

At 28 February 2018

-

At 28 February 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

leasehold

fittings

Totals

£

£

£

COST

At 1 March 2017

300

2,557

2,857

Additions

-

449

449

At 28 February 2018

300

3,006

3,306

DEPRECIATION

At 1 March 2017

270

1,794

2,064

Charge for year

30

252

282

At 28 February 2018

300

2,046

2,346

NET BOOK VALUE

At 28 February 2018

-

960

960

At 28 February 2017

30

763

793

6.

STOCKS

2018

2017

£

£

Stocks

14,785

19,521

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

51,179

17,513

VAT

2,806

8,391

Prepayments

290

97

54,275

26,001

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

58,939

62,261

Taxation and social security

10,911

5,104

Other creditors

31,014

33,129

100,864

100,494