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Registered number: 11544944
Formby Fabrications Limited
Financial Statements
For The Year Ended 31 August 2023
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11544944
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,268 6,235
5,268 6,235
CURRENT ASSETS
Stocks 5 3,000 7,226
Debtors 6 8,426 10,765
Cash at bank and in hand 3,280 380
14,706 18,371
Creditors: Amounts Falling Due Within One Year 7 (13,985 ) (15,346 )
NET CURRENT ASSETS (LIABILITIES) 721 3,025
TOTAL ASSETS LESS CURRENT LIABILITIES 5,989 9,260
Creditors: Amounts Falling Due After More Than One Year 8 (10,001 ) (11,013 )
NET LIABILITIES (4,012 ) (1,753 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (4,112 ) (1,853 )
SHAREHOLDERS' FUNDS (4,012) (1,753)
Page 1
Page 2
For the year ending 31 August 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 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M Bennett
Director
19th August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Formby Fabrications Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11544944 . The registered office is 25 St Annes Road, Freshfield, Formby, Merseyside, L37 7AS. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 September 2022 11,338 1,000 12,338
As at 31 August 2023 11,338 1,000 12,338
...CONTINUED
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Depreciation
As at 1 September 2022 5,419 684 6,103
Provided during the period 888 79 967
As at 31 August 2023 6,307 763 7,070
Net Book Value
As at 31 August 2023 5,031 237 5,268
As at 1 September 2022 5,919 316 6,235
5. Stocks
2023 2022
£ £
Stock 3,000 7,226
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 8,426 10,765
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3,564 7,403
Bank loans and overdrafts 4,320 4,320
Other creditors 2,609 1,680
Taxation and social security 3,492 1,943
13,985 15,346
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 10,001 11,013
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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