REGISTERED NUMBER: SC373435 (Scotland)

Unaudited Financial Statements

for the Period 1 July 2016 to 30 September 2017

for

FW 123 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Garrett

Mrs S A Garrett

SECRETARY:

N J Garrett

REGISTERED OFFICE:

29 Fountainhall Road

Aberdeen

Aberdeenshire

AB15 4EW

REGISTERED NUMBER:

SC373435 (Scotland)

ACCOUNTANTS:

Grampian Accounting

3 Prospect Place

Arnhall Business Park

Westhill

Aberdeenshire

AB32 6SY

FIXED ASSETS

Tangible assets

4

-

181,279

CURRENT ASSETS

Stocks

-

148,124

Debtors

5

3,274

46,247

Cash at bank and in hand

378,965

33,709

382,239

228,080

CREDITORS

Amounts falling due within one year

6

162,422

65,411

NET CURRENT ASSETS

219,817

162,669

TOTAL ASSETS LESS CURRENT LIABILITIES

219,817

343,948

CREDITORS

Amounts falling due after more than one year

7

-

(30,833

)

PROVISIONS FOR LIABILITIES

-

(2,533

)

NET ASSETS

219,817

310,582

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

8

26,174

26,174

Retained earnings

192,643

283,408

219,817

310,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7 March 2018 and were signed on its behalf by:

N J Garrett - Director

1.	STATUTORY INFORMATION

FW 123 Limited is a private company, limited by shares , registered in Scotland. 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 provision 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.

This is the first year in which the financial statements have been prepared in accordance with FRS 102 Section

1A. In previous years the financial statements have been prepared with the Financial Reporting Standards for

Smaller Entities ('THE FRSSE')

The adoption of FRS 102 Section 1A has not resulted in any changes to the recognition and measurement

principles previously adopted.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Stocks

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

moving items.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 period was 9 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2016

186,250

54,411

240,661

Additions

-

3,417

3,417

Disposals

(186,250

)

(57,828

)

(244,078

)

At 30 September 2017

-

-

-

DEPRECIATION

At 1 July 2016

22,027

37,355

59,382

Eliminated on disposal

(22,027

)

(37,355

)

(59,382

)

At 30 September 2017

-

-

-

NET BOOK VALUE

At 30 September 2017

-

-

-

At 30 June 2016

164,223

17,056

181,279

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.6.16

£

£

Trade debtors

1,278

4,893

Other debtors

1,996

41,354

3,274

46,247

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.17

30.6.16

£

£

Bank loans and overdrafts

33,884

10,000

Trade creditors

30,627

26,874

Taxation and social security

11,307

27,267

Other creditors

86,604

1,270

162,422

65,411

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.17

30.6.16

£

£

Bank loans

-

30,833

8.

RESERVES

Revaluation

reserve

£

At 1 July 2016

and 30 September 2017

26,174