Forward Protective Coatings Limited
|
Registered Number
:
04353524
|
For the year ended 31 March 2020
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2020
Forward Protective Coatings Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Forward Protective Coatings Limited
Statement of Financial Position
2019
2020
Property
,
plant and equipment
|
165,668
207,973
2
165,668
207,973
13,570
15,640
3
Trade and other receivables
|
488,914
698,995
4
43,833
Cash and cash equivalents
|
21,358
735,993
546,317
Trade and other payables
:
amounts falling due within one year
|
(215,528)
(314,533)
5
330,789
421,460
Net current assets
Total assets less current liabilities
|
587,128
538,762
Trade and other payables
:
amounts falling due after more than one year
|
(49,748)
(21,785)
6
565,343
Net assets
489,014
2
2
565,341
489,012
565,343
489,014
Shareholders' funds
For the year ended 31 March 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
|
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006
|
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
|
These financial statements were approved and authorised for issue by the Board on 17 December 2020 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 March 2020
Forward Protective Coatings Limited
Notes to the Financial Statements
Statutory Information
Forward Protective Coatings Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
registration number
|
04353524
.
|
Vernon Street
Shirebrook
Mansfield
Notts
NG20 8SS
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A 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 costs convention as modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.
|
Property, plant and equipment
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:
|
Plant and machinery
Fixtures and fittings
Inventories
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 of 4
For the year ended 31 March 2020
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
447,063
80,248
366,815
24,696
10,487
14,209
381,024
90,735
471,759
Provision for depreciation and impairment
|
239,090
44,074
195,016
Charge for year
67,001
13,855
53,146
306,091
57,929
248,162
132,862
32,806
165,668
171,799
36,174
207,973
2019
2020
15,640
13,570
4
.
Trade and other receivables
|
2019
2020
434,416
396,224
Amounts owed by group undertakings and participating interests
|
263,644
92,805
935
(115)
488,914
698,995
5
.
Trade and other payables
:
amounts falling due within one year
|
2019
2020
91,491
132,930
Taxation and social security
|
93,843
47,549
129,199
35,049
314,533
215,528
3 of 4
For the year ended 31 March 2020
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2019
2020
21,785
49,748
7
.
Related party transactions
|
Rent of £219,260 (2009: £124,260) has been paid to companies related by reason of common ownership.
8
.
Average number of persons employed
|
During the year the average number of employees was 22 (2019 : 22)
4 of 4