Registered number
10484171
Formby Holdings Ltd
Unaudited Filleted Accounts
31 March 2024
Formby Holdings Ltd
Registered number: 10484171
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 60,000 60,000
Current assets
Debtors 4 297,388 136,188
Cash at bank and in hand 52,487 122,329
349,875 258,517
Creditors: amounts falling due within one year 5 (180,327) (53,356)
Net current assets 169,548 205,161
Net assets 229,548 265,161
Capital and reserves
Called up share capital 101 101
Profit and loss account 229,447 265,060
Shareholders' funds 229,548 265,161
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Sholicar
Director
Approved by the board on 4 September 2024
Formby Holdings Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 60,000
At 31 March 2024 60,000
4 Debtors 2024 2023
£ £
Other debtors 297,388 136,188
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 180,327 53,356
6 Related party transactions
At 31 March 2024, the company was owed £153,460 (2023 - £100,210) from Metro Garages Ltd and £3,900 (2023 - £16,400) from Metro Cabs Sefton Ltd. Both companies under the direct control of the director.
At 31 March 2024, the company was owed £67,028 (2023 - £19,578) from Metro Radio Cars Ltd. Both companies under the direct control of the director.
At 31 March 2024, the company was owed £10,000 (2023 - nil) from Formby Private Hire Ltd, and £63,000 (2023 - nil) from Formby Village Radio Cars Ltd. Both companies under the direct control of the director.
At 31 March 2024, the company owes nil (2023 - £59,000) to Formby Properties Ltd and £66,920 (2023 - £45,920) to Phoenix Cars Formby Ltd. All companies are under the direct control of the director.
7 Other information
Formby Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
300 St Mary's Road
Garston
Liverpool
Merseyside
L19 0NQ
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