Company registration number 11956736 (England and Wales)
FTR (NORTH WEST) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
FTR (NORTH WEST) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
FTR (NORTH WEST) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
665
Current assets
Debtors
-
0
4,000
Cash at bank and in hand
47,871
47,465
47,871
51,465
Creditors: amounts falling due within one year
5
(19,234)
(17,414)
Net current assets
28,637
34,051
Total assets less current liabilities
28,637
34,716
Creditors: amounts falling due after more than one year
6
(12,667)
(14,333)
Provisions for liabilities
-
0
(84)
Net assets
15,970
20,299
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
15,870
20,199
Total equity
15,970
20,299

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FTR (NORTH WEST) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2022
30 September 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 December 2022
Mrs F Rhodes
Director
Company Registration No. 11956736
FTR (NORTH WEST) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 3 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 May 2021
100
34
134
Year ended 30 April 2022:
Profit and total comprehensive income for the year
-
47,765
47,765
Dividends
-
(27,600)
(27,600)
Balance at 30 April 2022
100
20,199
20,299
Period ended 30 September 2022:
Profit and total comprehensive income for the period
-
10,221
10,221
Dividends
-
(14,550)
(14,550)
Balance at 30 September 2022
100
15,870
15,970
FTR (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 4 -
1
Accounting policies
Company information

FTR (North West) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Broad View, Long Lane, BARROW-IN-FURNESS, LA13 0PF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Reporting period

These financial statements cover the period from incorporation on 20 April 2019 but cover trading for the year from 1 May 2019.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance
Computers
33.33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FTR (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

FTR (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2022
2022
Number
Number
Total
-
0
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
1,719
Disposals
(1,719)
At 30 September 2022
-
0
Depreciation and impairment
At 1 May 2022
1,054
Depreciation charged in the Period
170
Eliminated in respect of disposals
(1,224)
At 30 September 2022
-
0
Carrying amount
At 30 September 2022
-
0
At 30 April 2022
665
5
Creditors: amounts falling due within one year
2022
2022
£
£
Bank loans
4,000
4,000
Corporation tax
12,461
9,985
Other taxation and social security
289
100
Other creditors
2,484
3,329
19,234
17,414
FTR (NORTH WEST) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2022
- 7 -
6
Creditors: amounts falling due after more than one year
2022
2022
£
£
Bank loans and overdrafts
12,667
14,333
7
Events after the reporting date

The company has now ceased trading.

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