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Formac Electronics Limited
Registered Number:01553452
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Formac Electronics Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
01553452
As at 31 March 2023
Formac Electronics Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
284,513
284,196
2
284,513
284,196
Current assets
Inventories
30,000
30,000
3
Trade and other receivables
37,127
28,575
4
243,763
Cash and cash equivalents
310,919
369,494
310,890
Trade and other payables: amounts falling due within one
year
(49,043)
(109,096)
5
261,847
260,398
Net current assets
Total assets less current liabilities
544,911
546,043
544,911
Net assets
546,043
Capital and reserves
Called up share capital
100,002
100,002
Retained earnings
444,909
446,041
544,911
546,043
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.
J.L. McLean-Foreman Director
These financial statements were approved and authorised for issue by the Board on 05 October 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Formac Electronics Limited
Notes to the Financial Statements
Statutory Information
Formac Electronics Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 01553452.
Registered address:
Oxford House
Oxford Place
Combe Down
Bath
BA2 5HD
The presentation currency is £ sterling.
1. Accounting policies
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.
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
Plant and
Machinery
Land and
Buildings
£
£
£
£
£
£
Cost or
valuation
At 01 April 2022
347,102
-
25,505
1,778
36,876
282,943
841
841
-
-
-
-
Additions
At 31 March 2023
282,943
1,778
25,505
841
347,943
36,876
Provision for depreciation and impairment
At 01 April 2022
62,906
-
24,252
1,778
36,876
-
Charge for year
524
211
313
-
-
-
At 31 March 2023
63,430
211
24,565
1,778
36,876
-
At 31 March 2023
Net book value
282,943
-
-
940
630
284,513
282,943
-
-
1,253
-
284,196
At 31 March 2022
3. Inventories
2022
2023
£
£
Stocks
30,000
30,000
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5
For the year ended 31 March 2023
Formac Electronics Limited
Notes to the Financial Statements Continued
4. Trade and other receivables
2022
2023
£
£
Trade debtors
28,575
37,127
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Taxation and social security
7,203
9,153
Other creditors
101,893
39,890
109,096
49,043
6. Average number of persons employed
During the year the average number of employees was 5 (2022 : 5)
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