Company registration number 04730799 (England and Wales)
FORMULA ALUMINIUM SYSTEMS UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
FORMULA ALUMINIUM SYSTEMS UK LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
FORMULA ALUMINIUM SYSTEMS UK LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr N S Palmer
Mr S S Palmer
Secretary
Mr S Copson
Company number
04730799
Registered office
30 - 31 St James Place
Mangotsfield
Bristol
BS16 9JB
Accountants
TC Group
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
FORMULA ALUMINIUM SYSTEMS UK LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
171,988
172,019
Current assets
Stocks
274,102
344,672
Debtors
5
507,964
482,959
Cash at bank and in hand
457,780
548,167
1,239,846
1,375,798
Creditors: amounts falling due within one year
6
(848,495)
(812,269)
Net current assets
391,351
563,529
Total assets less current liabilities
563,339
735,548
Creditors: amounts falling due after more than one year
7
(111,784)
(91,276)
Provisions for liabilities
8
-
0
(2,715)
Net assets
451,555
641,557
Capital and reserves
Called up share capital
514
514
Profit and loss reserves
451,041
641,043
Total equity
451,555
641,557
FORMULA ALUMINIUM SYSTEMS UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

For the financial year ended 30 June 2024 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 in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 February 2025 and are signed on its behalf by:
Mr N S Palmer
Director
Company registration number 04730799 (England and Wales)
FORMULA ALUMINIUM SYSTEMS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Formula Aluminium Systems UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 - 31 St James Place, Mangotsfield, Bristol, BS16 9JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FORMULA ALUMINIUM SYSTEMS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
FORMULA ALUMINIUM SYSTEMS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023
70,261
2,912
65,241
255,519
393,933
Additions
16,680
-
0
6,339
135,603
158,622
Disposals
-
0
-
0
-
0
(177,474)
(177,474)
At 30 June 2024
86,941
2,912
71,580
213,648
375,081
Depreciation and impairment
At 1 July 2023
46,391
2,617
46,972
125,934
221,914
Depreciation charged in the year
10,137
74
6,152
40,906
57,269
Eliminated in respect of disposals
-
0
-
0
-
0
(76,090)
(76,090)
At 30 June 2024
56,528
2,691
53,124
90,750
203,093
Carrying amount
At 30 June 2024
30,413
221
18,456
122,898
171,988
At 30 June 2023
23,870
295
18,269
129,585
172,019
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
470,700
414,396
Other debtors
37,264
68,563
507,964
482,959
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,012
9,868
Trade creditors
719,070
732,975
Taxation and social security
85,182
34,348
Other creditors
34,231
35,078
848,495
812,269
FORMULA ALUMINIUM SYSTEMS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,901
20,057
Other creditors
101,883
71,219
111,784
91,276
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
-
0
2,715
2024-06-302023-07-01false03 February 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr N S PalmerMr S S PalmerMr S Copsonfalsefalse047307992023-07-012024-06-3004730799bus:Director12023-07-012024-06-3004730799bus:Director22023-07-012024-06-3004730799bus:CompanySecretary12023-07-012024-06-3004730799bus:RegisteredOffice2023-07-012024-06-30047307992024-06-30047307992023-06-3004730799core:PlantMachinery2024-06-3004730799core:FurnitureFittings2024-06-3004730799core:ComputerEquipment2024-06-3004730799core:MotorVehicles2024-06-3004730799core:PlantMachinery2023-06-3004730799core:FurnitureFittings2023-06-3004730799core:ComputerEquipment2023-06-3004730799core:MotorVehicles2023-06-3004730799core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3004730799core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3004730799core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3004730799core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3004730799core:CurrentFinancialInstruments2024-06-3004730799core:CurrentFinancialInstruments2023-06-3004730799core:Non-currentFinancialInstruments2024-06-3004730799core:Non-currentFinancialInstruments2023-06-3004730799core:ShareCapital2024-06-3004730799core:ShareCapital2023-06-3004730799core:RetainedEarningsAccumulatedLosses2024-06-3004730799core:RetainedEarningsAccumulatedLosses2023-06-3004730799core:PlantMachinery2023-07-012024-06-3004730799core:FurnitureFittings2023-07-012024-06-3004730799core:ComputerEquipment2023-07-012024-06-3004730799core:MotorVehicles2023-07-012024-06-30047307992022-07-012023-06-3004730799core:PlantMachinery2023-06-3004730799core:FurnitureFittings2023-06-3004730799core:ComputerEquipment2023-06-3004730799core:MotorVehicles2023-06-30047307992023-06-3004730799core:WithinOneYear2024-06-3004730799core:WithinOneYear2023-06-3004730799bus:PrivateLimitedCompanyLtd2023-07-012024-06-3004730799bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3004730799bus:FRS1022023-07-012024-06-3004730799bus:AuditExemptWithAccountantsReport2023-07-012024-06-3004730799bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP