IRIS Accounts Production v23.2.0.158 11630745 director 1.1.22 31.12.22 31.12.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure116307452021-12-31116307452022-12-31116307452022-01-012022-12-31116307452020-12-31116307452021-01-012021-12-31116307452021-12-3111630745ns16:EnglandWales2022-01-012022-12-3111630745ns15:PoundSterling2022-01-012022-12-3111630745ns11:Director12022-01-012022-12-3111630745ns11:PrivateLimitedCompanyLtd2022-01-012022-12-3111630745ns11:SmallEntities2022-01-012022-12-3111630745ns11:AuditExempt-NoAccountantsReport2022-01-012022-12-3111630745ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3111630745ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-3111630745ns11:FullAccounts2022-01-012022-12-3111630745ns11:RegisteredOffice2022-01-012022-12-3111630745ns6:CurrentFinancialInstruments2022-12-3111630745ns6:CurrentFinancialInstruments2021-12-3111630745ns6:Non-currentFinancialInstruments2022-12-3111630745ns6:Non-currentFinancialInstruments2021-12-3111630745ns6:ShareCapital2022-12-3111630745ns6:ShareCapital2021-12-3111630745ns6:RetainedEarningsAccumulatedLosses2022-12-3111630745ns6:RetainedEarningsAccumulatedLosses2021-12-3111630745ns6:LeaseholdImprovements2022-01-012022-12-3111630745ns6:PlantMachinery2022-01-012022-12-3111630745ns6:FurnitureFittings2022-01-012022-12-3111630745ns6:MotorVehicles2022-01-012022-12-3111630745ns6:ComputerEquipment2022-01-012022-12-3111630745ns6:LeaseholdImprovements2021-12-3111630745ns6:PlantMachinery2021-12-3111630745ns6:FurnitureFittings2021-12-3111630745ns6:LeaseholdImprovements2022-12-3111630745ns6:PlantMachinery2022-12-3111630745ns6:FurnitureFittings2022-12-3111630745ns6:LeaseholdImprovements2021-12-3111630745ns6:PlantMachinery2021-12-3111630745ns6:FurnitureFittings2021-12-3111630745ns6:MotorVehicles2021-12-3111630745ns6:ComputerEquipment2021-12-3111630745ns6:MotorVehicles2022-12-3111630745ns6:ComputerEquipment2022-12-3111630745ns6:MotorVehicles2021-12-3111630745ns6:ComputerEquipment2021-12-3111630745ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-3111630745ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3111630745ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2022-12-3111630745ns6:WithinOneYearns6:CurrentFinancialInstrumentsns6:HirePurchaseContracts2021-12-3111630745ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2022-12-3111630745ns6:BetweenOneFiveYearsns6:HirePurchaseContracts2021-12-3111630745ns6:HirePurchaseContracts2022-12-3111630745ns6:HirePurchaseContracts2021-12-3111630745ns6:WithinOneYear2022-12-3111630745ns6:WithinOneYear2021-12-3111630745ns6:BetweenOneFiveYears2022-12-3111630745ns6:BetweenOneFiveYears2021-12-3111630745ns6:AllPeriods2022-12-3111630745ns6:AllPeriods2021-12-3111630745ns6:Secured2022-12-3111630745ns6:Secured2021-12-31
REGISTERED NUMBER: 11630745 (England and Wales)















Financial Statements

for the Year Ended 31 December 2022

for

Form Plants Ltd

Form Plants Ltd (Registered number: 11630745)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Form Plants Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: J M Butterworth





REGISTERED OFFICE: Dorney Court
Court Lane
Dorney
Windsor
Berkshire
SL4 6QP





REGISTERED NUMBER: 11630745 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

Form Plants Ltd (Registered number: 11630745)

Statement of Financial Position
31 December 2022

31/12/22 31/12/21
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 139,933 187,061

CURRENT ASSETS
Inventories 350,803 294,401
Debtors 6 3,087 7,752
Cash at bank - 96,567
353,890 398,720
CREDITORS
Amounts falling due within one year 7 (766,801 ) (745,394 )
NET CURRENT LIABILITIES (412,911 ) (346,674 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(272,978

)

(159,613

)

CREDITORS
Amounts falling due after more than one
year

8

(60,754

)

(93,171

)
NET LIABILITIES (333,732 ) (252,784 )

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings (334,232 ) (253,284 )
(333,732 ) (252,784 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Form Plants Ltd (Registered number: 11630745)

Statement of Financial Position - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2023 and were signed by:





J M Butterworth - Director


Form Plants Ltd (Registered number: 11630745)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Form Plants Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention and on a going concern basis, which the Director considers to be appropriate on the basis that he will arrange for the necessary finance and financial arrangements to be put in place to enable the company to meet its liabilities as they fall due.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 10 years
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Form Plants Ltd (Registered number: 11630745)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 10 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 January 2022 88,113 28,600 7,247
Additions - - 729
Disposals - (23,573 ) (4,796 )
At 31 December 2022 88,113 5,027 3,180
Depreciation
At 1 January 2022 4,921 9,887 1,582
Charge for year 8,811 3,743 1,251
Eliminated on disposal - (11,560 ) (2,107 )
At 31 December 2022 13,732 2,070 726
Net book value
At 31 December 2022 74,381 2,957 2,454
At 31 December 2021 83,192 18,713 5,665

Form Plants Ltd (Registered number: 11630745)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2022 104,108 17,035 245,103
Additions - 1,861 2,590
Disposals (4,183 ) (5,648 ) (38,200 )
At 31 December 2022 99,925 13,248 209,493
Depreciation
At 1 January 2022 34,787 6,865 58,042
Charge for year 13,864 2,277 29,946
Eliminated on disposal (1,640 ) (3,121 ) (18,428 )
At 31 December 2022 47,011 6,021 69,560
Net book value
At 31 December 2022 52,914 7,227 139,933
At 31 December 2021 69,321 10,170 187,061

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade debtors - 5,303
Other debtors 3,087 2,449
3,087 7,752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Bank loans and overdrafts 45,845 14,779
Hire purchase contracts (see note 9) 18,619 18,619
Trade creditors 446,944 244,771
Amounts owed to associates - 124,000
Taxation and social security 92,869 60,722
Other creditors 162,524 282,503
766,801 745,394

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/22 31/12/21
£    £   
Bank loans 35,367 49,165
Hire purchase contracts (see note 9) 25,387 44,006
60,754 93,171

Form Plants Ltd (Registered number: 11630745)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31/12/22 31/12/21
£    £   
Net obligations repayable:
Within one year 18,619 18,619
Between one and five years 25,387 44,006
44,006 62,625

Non-cancellable operating leases
31/12/22 31/12/21
£    £   
Within one year 16,000 -
Between one and five years 53,333 -
69,333 -

10. SECURED DEBTS

The following secured debts are included within creditors:

31/12/22 31/12/21
£    £   
Bank overdrafts 32,371 5,946
Bank loans 48,841 57,998
81,212 63,944

The bank has a fixed and floating charge over the assets of the company.