Forward Protective Coatings Limited
|
Registered Number
:
04353524
|
For the year ended 31 March 2021
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2021
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
2020
2021
Property
,
plant and equipment
|
165,124
165,668
2
165,124
165,668
15,640
14,973
3
Trade and other receivables
|
698,995
492,399
4
21,358
Cash and cash equivalents
|
257,394
764,766
735,993
Trade and other payables
:
amounts falling due within one year
|
(314,533)
(311,909)
5
421,460
452,857
Net current assets
Total assets less current liabilities
|
617,981
587,128
Trade and other payables
:
amounts falling due after more than one year
|
(21,785)
(50,000)
6
567,981
Net assets
565,343
2
2
567,979
565,341
567,981
565,343
Shareholders' funds
For the year ended 31 March 2021 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 2021 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 May 2021 and were signed by:
|
The notes form part of these financial statements
|
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For the year ended 31 March 2021
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 2021
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
2
.
Property
,
plant and equipment
|
Motor vehicles
471,759
90,735
-
381,024
71,227
6,335
12,000
52,892
(6,617)
-
(24,051)
(30,668)
409,865
12,000
90,453
512,318
Provision for depreciation and impairment
|
306,091
57,929
-
248,162
Charge for year
71,770
14,451
1,500
55,819
(30,667)
(6,617)
-
(24,050)
347,194
65,763
1,500
279,931
129,934
10,500
24,690
165,124
132,862
-
32,806
165,668
2020
2021
14,973
15,640
4
.
Trade and other receivables
|
2020
2021
354,820
434,416
Amounts owed by group undertakings and participating interests
|
136,644
263,644
935
935
698,995
492,399
3 of 4
For the year ended 31 March 2021
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
5
.
Trade and other payables
:
amounts falling due within one year
|
2020
2021
200,383
91,491
Taxation and social security
|
76,975
93,843
34,551
129,199
311,909
314,533
6
.
Trade and other payables
:
amounts falling due after more than one year
|
2020
2021
50,000
-
-
21,785
50,000
21,785
7
.
Related party transactions
|
During the year the Company made payments of rent £
124
,
260
(
2020
:
£
219
,
260
)
and management fees £
125
,
203
(
2020
:
NIL
)
to
|
companies under common ownership
.
|
8
.
Average number of persons employed
|
During the year the average number of employees was 25 (2020 : 22)
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