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REGISTERED NUMBER: 13303181 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Form Construct Limited

Form Construct Limited (Registered number: 13303181)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Form Construct Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: M E Foster-Smith
G Lewis
S J Egdell





REGISTERED OFFICE: St John's Road
Meadowfield Industrial Estate
Durham
County Durham
DH7 8RJ





REGISTERED NUMBER: 13303181 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Form Construct Limited (Registered number: 13303181)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,178 21,787

CURRENT ASSETS
Stocks 5 1,116,000 1,138,000
Debtors 6 52,856 84,998
Cash at bank 30,542 43,676
1,199,398 1,266,674
CREDITORS
Amounts falling due within one year 7 1,244,252 1,298,319
NET CURRENT LIABILITIES (44,854 ) (31,645 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(17,676

)

(9,858

)

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings (17,876 ) (10,058 )
SHAREHOLDERS' FUNDS (17,676 ) (9,858 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





M E Foster-Smith - Director


Form Construct Limited (Registered number: 13303181)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Form Construct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Revenue is recognised as work is done and any unbilled income is recognised as work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items. Work in progress represents unbilled income.

Financial instruments
Basic financial instruments are recognised at amortised cost with charges recognised in profit or loss.


Form Construct Limited (Registered number: 13303181)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 2,907 23,000 628 26,535
Additions - 12,749 - 12,749
At 30 April 2024 2,907 35,749 628 39,284
DEPRECIATION
At 1 May 2023 823 3,833 92 4,748
Charge for year 581 6,651 126 7,358
At 30 April 2024 1,404 10,484 218 12,106
NET BOOK VALUE
At 30 April 2024 1,503 25,265 410 27,178
At 30 April 2023 2,084 19,167 536 21,787

5. STOCKS
2024 2023
£    £   
Work-in-progress 1,116,000 1,138,000

Form Construct Limited (Registered number: 13303181)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 6,882
Other debtors 25,570 47,100
Directors' current accounts 1,146 -
Prepayments and accrued income 26,140 31,016
52,856 84,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 143,012 173,520
Taxation and social security 71,590 26,225
Other creditors 1,028,150 1,097,074
Accruals and deferred income 1,500 1,500
1,244,252 1,298,319

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A shares £1 100 100
100 Ordinary B shares £1 100 100
200 200

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
M E Foster-Smith
Balance outstanding at start of year - -
Amounts advanced 9,146 -
Amounts repaid (8,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,146 -

Form Construct Limited (Registered number: 13303181)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below:

2024 2023
£    £

Amounts due from directors 1,146 -
No interest has been charged.