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Registration number: 03683084

Ferry Fabrications Limited

Abbreviated Accounts

for the Year Ended 31 December 2015
 

 

787878787
Ferry Fabrications Limited
Registration number: 03683084
Abbreviated Balance Sheet at 31 December 2015

 

Note

   

2015

   

2014

 
 

£

   

£

   

£

   

£

 

Fixed assets

 

   

   

   

   

 

Tangible fixed assets

 

2

   

   

5,184

   

   

5,883

 

Current assets

 

   

   

   

   

 

Stocks

 

   

200

   

   

235

   

 

Debtors

 

   

1,890

   

   

-

   

 

Cash at bank and in hand

 

   

9,975

   

   

12,878

   

 

 

   

12,065

   

   

13,113

   

 

Creditors: Amounts falling due within one year

 

   

(15,964)

   

   

(15,365)

   

 

Net current liabilities

 

   

   

(3,899)

   

   

(2,252)

 

Total assets less current liabilities

 

   

   

1,285

   

   

3,631

 

Provisions for liabilities

 

   

   

(662)

   

   

(720)

 

Net assets

 

   

   

623

   

   

2,911

 

Capital and reserves

 

   

   

   

   

 

Called up share capital

 

3

   

2

   

   

2

   

 

Profit and loss account

 

   

621

   

   

2,909

   

 

Shareholders' funds

 

   

   

623

   

   

2,911

 

For the year ending 31 December 2015 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the director on 27 May 2016


Mr JE Proctor
Director

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

 

787878787
Ferry Fabrications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015

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.

Depreciation

Depreciation is provided on 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

Plant and machinery

15% reducing balance/over three years

Motor vehicles

25% reducing balance

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.

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.

Pensions

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

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

 

787878787
Ferry Fabrications Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015

2

Fixed assets

 

Tangible assets
£

   

Total
£

 

Cost

 

   

 

At 1 January 2015

 

24,910

   

24,910

 

Additions

 

690

   

690

 

At 31 December 2015

 

25,600

   

25,600

 

Amortisation

 

   

 

At 1 January 2015

 

19,027

   

19,027

 

Charge for the year

 

1,389

   

1,389

 

At 31 December 2015

 

20,416

   

20,416

 

Net book value

 

   

 

At 31 December 2015

 

5,184

   

5,184

 

At 31 December 2014

 

5,883

   

5,883

 

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

2

   

2

   

2

   

2

 
                         

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