Forward Protective Coatings Limited |
Registered Number:04353524 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2023
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
2022
2023
Property, plant and equipment |
103,795
123,420
3
103,795
123,420
44,226
29,768
4
Trade and other receivables |
559,982
705,501
5
44,601
Cash and cash equivalents |
50,796
786,065
648,809
Trade and other payables: amounts falling due within one year |
(224,005)
(296,025)
6
424,804
490,040
Net current assets
Total assets less current liabilities |
593,835
548,224
Trade and other payables: amounts falling due after more than one year |
(31,667)
(20,997)
7
572,838
Net assets
516,557
2
2
572,836
516,555
572,838
516,557
Shareholders' funds
For the year ended 31 March 2023 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 2023 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 26 September 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2023
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 1A 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.
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
-
-
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For the year ended 31 March 2023
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment |
Motor vehicles
544,612
97,513
21,728
425,371
39,902
3,960
-
35,942
(1,185)
-
(10,872)
(12,057)
450,441
21,728
100,288
572,457
Provision for depreciation and impairment |
421,192
77,345
5,716
338,131
Charge for year
59,528
10,106
5,432
43,990
(12,058)
(1,185)
-
(10,873)
468,662
86,266
11,148
371,248
79,193
10,580
14,022
103,795
87,240
16,012
20,168
123,420
2022
2023
29,768
44,226
5. Trade and other receivables |
2022
2023
565,302
419,154
Amounts owed by group undertakings and participating interests |
136,644
136,644
3,555
4,184
559,982
705,501
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For the year ended 31 March 2023
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year |
2022
2023
10,000
10,000
156,090
112,765
Taxation and social security |
105,250
86,496
24,685
14,744
296,025
224,005
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
20,997
31,667
8. Related party transactions |
During the year the company made payments of rent £136,686 (2022: £130,463) to Langwith Property Limited, a company under common |
control.. At the year end £136,644 (2022: £136,644) is owed to Langwith Property Limited. |
9. Average number of persons employed |
During the year the average number of employees was 20 (2022 : 25)
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