Registered number
04909787
Fiducia Interiors Ltd
Filleted Accounts
30 September 2017
Fiducia Interiors Ltd
Registered number: 04909787
Balance Sheet
as at 30 September 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 - 89
Investments 4 1 1
1 90
Current assets
Debtors 5 520,508 870,981
Cash at bank and in hand 83,940 119,453
604,448 990,434
Creditors: amounts falling due within one year 6 (417,162) (566,535)
Net current assets 187,286 423,899
Net assets 187,287 423,989
Capital and reserves
Called up share capital 5 5
Profit and loss account 187,282 423,984
Shareholders' funds 187,287 423,989
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Rogers
Director
Approved by the board on 29 June 2018
Fiducia Interiors Ltd
Notes to the Accounts
for the year ended 30 September 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when contractual obligations have been met.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 10 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2016 5,500
At 30 September 2017 5,500
Depreciation
At 1 October 2016 5,411
Charge for the year 89
At 30 September 2017 5,500
Net book value
At 30 September 2017 -
At 30 September 2016 89
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2016 1
At 30 September 2017 1
5 Debtors 2017 2016
£ £
Trade debtors 266,276 416,158
Other debtors 254,232 454,823
520,508 870,981
6 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 319,283 481,393
Amounts owed to group undertakings and undertakings in which the company has a participating interest 4,799 4,799
Taxation and social security costs 57,399 71,233
Other creditors 35,681 9,110
417,162 566,535
7 Other information
Fiducia Interiors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Moorgate House
7b Station Road West
Oxted
Surrey
RH8 9EE
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