Forward Protective Coatings Limited
|
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04353524
Forward Protective Coatings Limited
For the year ended 31 March 2016
1
Balance Sheet
2 to 3
Notes to the Abbreviated Financial Statements
Abbreviated Balance Sheet
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Forward Protective Coatings Limited
2016
2015
2
5,485
10,970
3
56,989
20,380
62,474
31,350
6,312
8,741
386,488
323,851
131,324
56,676
463,916
449,476
Creditors
:
amounts falling due within one year
|
(245,578)
(222,475)
203,898
241,441
Net current assets
Total assets less current liabilities
|
303,915
235,248
Creditors
:
amounts falling due after more than one year
|
(3,388)
(9,476)
294,439
Net assets
231,860
2
4
2
294,437
231,858
294,439
231,860
Shareholders funds
For the year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
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2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 01 June 2016
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Signed on behalf of the board of directors
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1 of 3
Notes to the Abbreviated Financial Statements
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Forward Protective Coatings Limited
For the year ended 31 March 2016
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the estimated expected useful
|
economic life of the goodwill of
10
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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Plant and Machinery
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
2
Intangible fixed assets
|
54,848
54,848
43,878
5,485
Charge for year
49,363
5,485
10,970
2 of 3
Notes to the Abbreviated Financial Statements
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Forward Protective Coatings Limited
For the year ended 31 March 2016
131,389
49,287
180,676
111,009
12,678
Charge for year
123,687
56,989
20,380
The net book value of tangible assets includes £23,096 in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £4,188.
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Allotted called up and fully paid
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2016
2015
2
Class A shares of £
1
.
00
each
|
2
2
2
2
3 of 3