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Registered number: 13732865


 
 
 
 
 
 
 
 
 
FORMOTION SERVICES LIMITED
 
FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
FORMOTION SERVICES LIMITED
 

COMPANY INFORMATION


Directors
R. Clement 
D. Ryelandt 
C. Skelly 
C. Breaban 
H. Van Poecke 




Registered number
13732865



Registered office
1st Floor Sackville House 
143-149 Fenchurch Street

London

EC3M 6BL




Independent auditors
Wilder Coe Ltd
Chartered Accountants & Statutory Auditors

1st Floor Sackville House

143-149 Fenchurch Street

London

EC3M 6BN





 
FORMOTION SERVICES LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
FORMOTION SERVICES LIMITED
REGISTERED NUMBER: 13732865

BALANCE SHEET
AS AT 31 DECEMBER 2023

31 December
30 November
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,299
3,127

Current assets
  

Debtors
 5 
21,506
210,968

Bank and cash balances
  
12,103
145,741

  
33,609
356,709

Creditors: amounts falling due within one year
 6 
(17,493)
(305,399)

Net current assets
  
 
 
16,116
 
 
51,310

  

Net assets
  
17,415
54,437


Capital and reserves
  

Allotted, called up and fully paid share capital
  
1,100,000
1,100,000

Profit and loss account
  
(1,082,585)
(1,045,563)

Equity shareholder's funds
  
17,415
54,437


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Directors' Report and Statement of Comprehensive Income in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on
27 September 2024.




D. Ryelandt
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
FORMOTION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

ForMotion Services Ltd (company number: 13732865), is a private limited company incorporated in England and Wales, having its registered office at 1st Floor Sackville House, 143-149 Fenchurch Street, London, EC3M 6BL, and principal place of business at 99 Kings Road, London, SW3 4PA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Statement of Cash Flows

The Company has taken advantage of the exemption in the Financial Reporting Standard 102, Section 1A.7 from the requirement to provide a Statement of Cash Flows on the grounds that it is a small company.

 
2.3

Going concern

At the Balance Sheet date the Company made a loss for the financial period of £37,022 (period ended 30 November 2022: £1,045,563) and had net assets at that date of £17,415 (30 November 2022: £54,437) with cash reserves of £12,103 (30 November 2022: £145,741).
The Company has the support of its directors and shareholders for the foreseeable future and for a period of at least 12 months from the date of signing these financial statements. On this basis the directors deem it appropriate to prepare these financial statements on the going concern basis.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

Page 2

 
FORMOTION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.7

Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
FORMOTION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.11

Creditors

Short-term creditors are measured at the transaction price. 

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the period was 5 (period ended 30 November 2022: 6).

Page 4

 
FORMOTION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 December 2022 and 31 December 2023

510
5,485
5,995



Depreciation


At 1 December 2022
47
2,821
2,868


Charge for the period
-
1,828
1,828



At 31 December 2023

47
4,649
4,696



Net book value



At 31 December 2023
463
836
1,299



At 30 November 2022
463
2,664
3,127


5.


Debtors

31 December
30 November
2023
2022
£
£

Due within one year

Trade debtors
21,297
11,796

Amounts owed by group undertakings
-
59,397

Other debtors
209
119,712

Prepayments and accrued income
-
20,063

21,506
210,968


Page 5

 
FORMOTION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

31 December
30 November
2023
2022
£
£

Trade creditors
-
29,482

Amounts owed to group undertakings
9,993
-

Other taxation and social security
-
27,768

Accruals and deferred income
7,500
248,149

17,493
305,399



7.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,687 (period ended 30 November 2022: £3,583) over the period. 


8.


Related party transactions

The Company has taken advantage of the exemptions in FRS 102, section 33.1A in respect of disclosing
intra-company transactions with entities which are wholly-owned within the group.


9.


Consolidated Parent Undertaking

As at 31 December 2023 and 30 November 2022, the company's immediate parent undertaking was ForMotion NV a company incorporated in Luxemburg.
The group of which the Company is a member for which group financial statements are drawn up is ForMotion NV. Copies of these group financial statements are available from Terhulpensesteenweg 120, 1000 Brussels, Belgium.


10.


Auditors' information

The Company was subject to an audit for the period ended 31 December 2023. The audit report was issued with an unqualified opinion and signed on 27 September 2024 by Chris Gent BA FCA (Senior Statutory Auditor) on behalf of Wilder Coe Ltd.


Page 6