Forward Protective Coatings Limited
|
Registered Number
:
04353524
|
For the year ended 31 March 2019
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2019
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
2018
2019
Property
,
plant and equipment
|
207,973
187,449
3
207,973
187,449
14,569
13,570
4
Trade and other receivables
|
305,593
488,914
5
180,052
Cash and cash equivalents
|
43,833
546,317
500,214
Trade and other payables
:
amounts falling due within one year
|
(187,389)
(215,528)
6
312,825
330,789
Net current assets
Total assets less current liabilities
|
538,762
500,274
Trade and other payables
:
amounts falling due after more than one year
|
(56,320)
(49,748)
7
489,014
Net assets
443,954
2
2
489,012
443,952
489,014
443,954
Shareholders' funds
For the year ended 31 March 2019 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 2019 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 18 June 2019 and were signed by:
|
The notes form part of these financial statements
|
1 of 4
For the year ended 31 March 2019
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
.
Intangible fixed assets
|
Goodwill
54,848
54,848
54,848
54,848
-
-
2 of 4
For the year ended 31 March 2019
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
3
.
Property
,
plant and equipment
|
369,582
68,286
301,296
77,481
11,962
65,519
366,815
80,248
447,063
Provision for depreciation and impairment
|
182,133
31,056
151,077
Charge for year
56,957
13,018
43,939
239,090
44,074
195,016
171,799
36,174
207,973
150,219
37,230
187,449
The net book value of tangible fixed assets includes £
80
,
982
(
2018
:
£
92
,
852
)
in respect of assets held under finance leases or hire
|
purchase contracts
.
The depreciation charge in respect of such assets amounted to £
24
,
853
(
2018
:
£
22
,
426
).
|
2018
2019
13,570
14,569
5
.
Trade and other receivables
|
2018
2019
396,224
293,336
Amounts owed by group undertakings and participating interests
|
92,805
-
(115)
12,257
305,593
488,914
3 of 4
For the year ended 31 March 2019
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
6
.
Trade and other payables
:
amounts falling due within one year
|
2018
2019
132,930
101,538
Taxation and social security
|
47,549
53,432
35,049
32,419
215,528
187,389
7
.
Trade and other payables
:
amounts falling due after more than one year
|
2018
2019
49,748
56,320
4 of 4