19 01/01/2024 31/12/2024 2024-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-01-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP NI037210 2024-01-01 2024-12-31 NI037210 2024-12-31 NI037210 2023-12-31 NI037210 2023-01-01 2023-12-31 NI037210 2023-12-31 NI037210 2022-12-31 NI037210 core:PlantMachinery 2024-01-01 2024-12-31 NI037210 bus:RegisteredOffice 2024-01-01 2024-12-31 NI037210 bus:LeadAgentIfApplicable 2024-01-01 2024-12-31 NI037210 bus:Director1 2024-01-01 2024-12-31 NI037210 bus:Director2 2024-01-01 2024-12-31 NI037210 bus:CompanySecretary1 2024-01-01 2024-12-31 NI037210 core:PlantMachinery 2023-12-31 NI037210 core:FurnitureFittingsToolsEquipment 2023-12-31 NI037210 core:PlantMachinery 2024-12-31 NI037210 core:FurnitureFittingsToolsEquipment 2024-12-31 NI037210 core:WithinOneYear 2024-12-31 NI037210 core:WithinOneYear 2023-12-31 NI037210 core:AfterOneYear 2024-12-31 NI037210 core:AfterOneYear 2023-12-31 NI037210 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI037210 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 NI037210 core:ShareCapital 2024-12-31 NI037210 core:ShareCapital 2023-12-31 NI037210 core:RetainedEarningsAccumulatedLosses 2024-12-31 NI037210 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI037210 core:ShareCapital 2022-12-31 NI037210 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI037210 core:PreviouslyStatedAmount core:ShareCapital 2024-12-31 NI037210 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 NI037210 core:PlantMachinery 2023-12-31 NI037210 core:FurnitureFittingsToolsEquipment 2023-12-31 NI037210 bus:Director1 2024-12-31 NI037210 bus:Director2 2024-12-31 NI037210 bus:Director1 2022-12-31 NI037210 bus:Director2 2022-12-31 NI037210 bus:Director1 2023-01-01 2023-12-31 NI037210 bus:Director2 2023-01-01 2023-12-31 NI037210 bus:SmallEntities 2024-01-01 2024-12-31 NI037210 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 NI037210 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI037210 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI037210 bus:FullAccounts 2024-01-01 2024-12-31
Company registration number: NI037210
Form Builders Ltd
Trading as Form Builders Ltd
Unaudited filleted financial statements
31 December 2024
Form Builders Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Form Builders Ltd
Directors and other information

| Directors | Mr Francis Owens
|  | Mr Patrick Owens
| Secretary | Francis Owens
| Company number | NI037210
| Registered office | Sixmilecross
|  | Omagh
|  | Tyrone
|  | BT79 9PH
| Business address | 43 Bracky Road
|  | Sixmilecross
|  | Omagh
|  | Tyrone
|  | BT79 9PH
| Accountants | Mooney Matthews
|  | Suites XO Formation Works
|  | 2 Edenaveys Industrial Estate
|  | Armagh
|  | BT60 1NF

| Bankers | Danske Bank
|  | 5-7 Market Street
|  | Omagh
|  | Tyrone
|  | BT78 1BN
| Solicitors | Logan & Corry Solicitors
|  | Church House
|  | 24 Dublin Road
|  | Omagh
|  | Tyrone

Form Builders Ltd
Statement of financial position
31 December 2024

|  |  | 2024 |  |  |  | 2023 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Tangible assets |  | 5 | 636,942 |  |  |  | 370,549 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 636,942 |  |  |  | 370,549
Current assets |  |  |  |  |  |  |  |  |
Stocks |  |  | 34,143 |  |  |  | 11,876 |  |
Debtors |  | 6 | 1,122,235 |  |  |  | 166,403 |  |
Cash at bank and in hand |  |  | 847,171 |  |  |  | 981,911 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 2,003,549 |  |  |  | 1,160,190 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 7 | ( 1,102,077) |  |  |  | ( 578,146) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 901,472 |  |  |  | 582,044
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 1,538,414 |  |  |  | 952,593
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
after more than one year |  | 8 |  |  | ( 297,645) |  |  |  | ( 203,949)
Provisions for liabilities |  |  |  |  | ( 139,704) |  |  |  | 59,827
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 1,101,065 |  |  |  | 808,471
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  |  |  |  | 2 |  |  |  | 2
Profit and loss account |  |  |  |  | 1,101,063 |  |  |  | 808,469
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 1,101,065 |  |  |  | 808,471
|  |  |  |  | _______ |  |  |  | _______

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:
Mr Francis Owens Mr Patrick Owens
Director Director
Company registration number: NI037210
Form Builders Ltd
Statement of changes in equity
Year ended 31 December 2024

|  | Called up share capital |  | Profit and loss account | Total |  |  |  |  |
|  | £ |  | £ | £ |  |  |  |  |
At 1 January 2022 |  | 2 |  | 183,213 | 183,215 |  |  |  |  |
Profit for the year |  |  |  | 752,042 | 752,042 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 752,042 | 752,042 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 126,786) | ( 126,786) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 126,786) | ( 126,786) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 December 2023 and 1 January 2024 |  | 2 |  | 808,469 | 808,471 |  |  |  |  |
Profit for the year |  |  |  | 408,641 | 408,641 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 408,641 | 408,641 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 116,047) | ( 116,047) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 116,047) | ( 116,047) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 December 2024 |  | 2 |  | 1,101,063 | 1,101,065 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |

Form Builders Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 43 Bracky Road, Sixmilecross, Omagh, Tyrone, BT79 9PH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Plant and machinery | - | 25 % | reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4. Staff costs
The average number of persons employed by the company during the year amounted to 19 (2023: 11 ).
The aggregate payroll costs incurred during the year were:

|  |  | 2024 | 2023
|  |  | £ | £
| Wages and salaries |  | 325,324 | 431,605
| Social security costs |  | 23,686 | 22,961
| Other pension costs |  | 8,491 | 13,487
|  |  | _______ | _______
|  |  | 357,501 | 468,053
|  |  | _______ | _______

5. Tangible assets

|  | Plant and machinery | Fixtures, fittings and equipment | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 January 2024 | 1,803,230 | 4,799 | 1,808,029 |  |  |  |
| Additions | 367,175 | 22,885 | 390,060 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 December 2024 | 2,170,405 | 27,684 | 2,198,089 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 January 2024 | 1,435,639 | 1,841 | 1,437,480 |  |  |  |
| Charge for the year | 122,374 | 1,293 | 123,667 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 December 2024 | 1,558,013 | 3,134 | 1,561,147 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 December 2024 | 612,392 | 24,550 | 636,942 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 December 2023 | 367,591 | 2,958 | 370,549 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

6. Debtors

|  |  | 2024 | 2023
|  |  | £ | £
| Trade debtors |  | 539,974 | 63,560
| Other debtors |  | 582,261 | 102,843
|  |  | _______ | _______
|  |  | 1,122,235 | 166,403
|  |  | _______ | _______

7. Creditors: amounts falling due within one year

|  |  | 2024 | 2023
|  |  | £ | £
| Bank loans and overdrafts |  | 2,473 | 3,752
| Trade creditors |  | 782,615 | 310,838
| Corporation tax |  | 119,638 | 120,323
| Social security and other taxes |  | 35,596 | 81,453
| Other creditors |  | 161,755 | 61,780
|  |  | _______ | _______
|  |  | 1,102,077 | 578,146
|  |  | _______ | _______

8. Creditors: amounts falling due after more than one year

|  |  | 2024 | 2023
|  |  | £ | £
| Bank loans and overdrafts |  | 85,859 | 131,575
| Other creditors |  | 211,786 | 72,374
|  |  | _______ | _______
|  |  | 297,645 | 203,949
|  |  | _______ | _______

9. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr Francis Owens | - | 6,292 | 6,292 |  |  |
| Mr Patrick Owens | - | 24,460 | 24,460 |  |  |
|  | _______ | _______ | _______ |  |  |
|  | - | 30,752 | 30,752 |  |  |
|  | _______ | _______ | _______ |  |  |
2023 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr Francis Owens | ( 4,845) | 4,845 | - |  |  |
| Mr Patrick Owens | ( 4,845) | 4,845 | - |  |  |
|  | _______ | _______ | _______ |  |  |
|  | ( 9,690) | 9,690 | - |  |  |
|  | _______ | _______ | _______ |  |  |