Forward Protective Coatings Limited |
Registered Number:04353524 |
For the year ended 31 March 2022
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2022
Forward Protective Coatings Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Forward Protective Coatings Limited
Statement of Financial Position
2021
2022
Property, plant and equipment |
123,420
165,124
2
123,420
165,124
14,973
44,226
3
Trade and other receivables |
492,399
559,982
4
257,394
Cash and cash equivalents |
44,601
648,809
764,766
Trade and other payables: amounts falling due within one year |
(311,909)
(224,005)
5
452,857
424,804
Net current assets
Total assets less current liabilities |
548,224
617,981
Trade and other payables: amounts falling due after more than one year |
(50,000)
(31,667)
6
516,557
Net assets
567,981
2
2
516,555
567,979
516,557
567,981
Shareholders' funds
For the year ended 31 March 2022 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 2022 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 07 September 2022 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2022
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. Property, plant and equipment |
Motor vehicles
512,318
90,453
12,000
409,865
32,294
7,060
9,728
15,506
425,371
21,728
97,513
544,612
Provision for depreciation and impairment |
347,194
65,763
1,500
279,931
Charge for year
73,998
11,582
4,216
58,200
421,192
77,345
5,716
338,131
87,240
16,012
20,168
123,420
129,934
10,500
24,690
165,124
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For the year ended 31 March 2022
Forward Protective Coatings Limited
Notes to the Financial Statements Continued
2021
2022
44,226
14,973
4. Trade and other receivables |
2021
2022
419,154
354,820
Amounts owed by group undertakings and participating interests |
136,644
136,644
4,184
935
492,399
559,982
5. Trade and other payables: amounts falling due within one year |
2021
2022
10,000
-
112,765
200,383
Taxation and social security |
86,496
76,975
14,744
34,551
224,005
311,909
6. Trade and other payables: amounts falling due after more than one year |
2021
2022
31,667
50,000
7. Related party transactions |
Duing the year the company made payments of rent £130,463 (2021: £124,260) to Langwith Property Limited, a company under common |
control. At the year end £136,644 (2021: £136,644) is owed by Langwith Property Limited. |
8. Average number of persons employed |
During the year the average number of employees was 25 (2021 : 25)
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