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Registered number: 09409971

Formya Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023

Prepared By:
Canning and Partners
10 Meadow Street
Avonmouth
Bristol
BS11 9AR

Formya Ltd

ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
DIRECTORS
Mr Matthew Lawrence
Mr John Parsons
Mrs Rosemary Parsons
Mr JJ Parsons
SECRETARY
Mrs Rosemary Parsons
REGISTERED OFFICE
Unit 4 Station Road Workshops
Station Road
Kingswood
BS15 4PJ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 09409971
ACCOUNTANTS
Canning and Partners
10 Meadow Street
Avonmouth
Bristol
BS11 9AR

Formya Ltd

ACCOUNTS
FOR THEYEARENDED31/03/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Formya Ltd

BALANCE SHEET AT 31/03/2023
20232022
Notes££
FIXED ASSETS
Tangible assets3511766
CURRENT ASSETS
Stock3,0006,000
Debtors549,17353,597
Cash at bank and in hand13,04410,774
65,21770,371
CREDITORS: Amounts falling due within one year631,11954,220
NET CURRENT ASSETS34,09816,151
TOTAL ASSETS LESS CURRENT LIABILITIES34,60916,917
PROVISIONS FOR LIABILITIES AND CHARGES797146
NET ASSETS34,51216,771
CAPITAL AND RESERVES
Called up share capital83030
Profit and loss account34,48216,741
SHAREHOLDERS' FUNDS34,51216,771
For the year ending 31/03/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 24/10/2023 and signed on their behalf by
.............................
Mr Matthew Lawrence
Director

Formya Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery 33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Leasing Commitments
At the reporting end date the company had outstanding commitments for the future minimum lease payments under non-cancellable opering leases, as follows:
2023 - £38,668
2022 - £16,425

Formya Ltd

1f. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the profit and loss account when there is objective evidence that the asset is impaired.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, are recognised at transaction price. Creditors are not interest bearing and are stated at their normal value.
2. EMPLOYEES
20232022
No.No.
Average number of employees66
3. TANGIBLE FIXED ASSETS
Plant and
MachineryTotal
££
Cost
At 01/04/202210,95810,958
At 31/03/202310,95810,958
Depreciation
At 01/04/202210,19210,192
For the year255255
At 31/03/202310,44710,447
Net Book Amounts
At 31/03/2023511511
At 31/03/2022766766
4. STOCK 20232022
££
Stock comprises:
Work in progress3,0006,000
3,0006,000

Formya Ltd

5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors45,16253,036
Other taxation and social security3,638-
Prepayments373561
49,17353,597
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Other social security and taxes20,89916,078
Directors current account1,864-
Credit card3,9643,483
Trade creditors1,6005,610
Other creditors1,44227,699
Accruals1,3501,350
31,11954,220
7. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation97146
97146
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
10 Class A shares of £1 each1010
10 Class B shares of £1 each1010
10 Class C shares of £1 each1010
3030