Company Registration No. 02910929 (England and Wales)
FORUM MARKETS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
FORUM MARKETS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
FORUM MARKETS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
693,597
693,597
Current assets
Cash at bank and in hand
3,833
4,174
Creditors: amounts falling due within one year
(680,285)
(690,261)
Net current liabilities
(676,452)
(686,087)
Total assets less current liabilities
17,145
7,510
Capital and reserves
Called up share capital
3
8
8
Profit and loss account
17,137
7,502
Shareholders' funds
17,145
7,510
For the financial year ended 30 November 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 8 July 2017
Mr Frank Lewis
Director
Company Registration No. 02910929
FORUM MARKETS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The company is financed by loans from its Director, which are repayable on demand. The Director intends to continue to support the company's cash requirements from time to time. Therefore, the financial statements do not include any adjustments that would result from a withdrawal of the loan facilities.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
not depreciated
2
Fixed assets
Tangible assets
£
Cost
At 1 December 2015 & at 30 November 2016
693,597
At 30 November 2015
693,597
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
8 Ordinary shares of £1 each
8
8