1 February 2025 v2026.41.1 limited_company_frs_102_section_1a_v1_1_4 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP100666232025-02-012026-01-31100666232026-01-31100666232025-01-3110066623core:WithinOneYear2026-01-3110066623core:WithinOneYear2025-01-3110066623core:AfterOneYear2025-01-3110066623core:ShareCapital2026-01-3110066623core:ShareCapital2025-01-3110066623core:SharePremium2026-01-3110066623core:SharePremium2025-01-3110066623core:RevaluationReserve2026-01-3110066623core:RevaluationReserve2025-01-3110066623core:RetainedEarningsAccumulatedLosses2026-01-3110066623core:RetainedEarningsAccumulatedLosses2025-01-3110066623bus:Director12025-02-012026-01-3110066623bus:RegisteredOffice2025-02-012026-01-31100666232024-02-012025-01-3110066623core:LandBuildings2025-02-0110066623core:PlantMachinery2025-02-01100666232025-02-0110066623core:PlantMachinery2025-02-012026-01-3110066623core:LandBuildings2026-01-3110066623core:PlantMachinery2026-01-3110066623core:LandBuildings2025-01-3110066623core:PlantMachinery2025-01-311006662312025-02-012026-01-3110066623countries:EnglandWales2025-02-012026-01-3110066623bus:AuditExemptWithAccountantsReport2025-02-012026-01-3110066623bus:PrivateLimitedCompanyLtd2025-02-012026-01-3110066623bus:SmallEntities2025-02-012026-01-3110066623bus:FullAccounts2025-02-012026-01-31
Company registration number:
10066623
Form It Shops & Showrooms Ltd.
Unaudited Filleted Financial Statements for the year ended
31 January 2026
Paterson Chartered Accountants
Tandle View House, 2 Holly Brook, Streetbridge, Chadderton, Oldham, Lancashire, OL1 2SY, United Kingdom
Form It Shops & Showrooms Ltd.
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Form It Shops & Showrooms Ltd.
Year ended
31 January 2026
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Form It Shops & Showrooms Ltd.
for the year ended
31 January 2026
which comprise the income statement, statement of total comprehensive income, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Form It Shops & Showrooms Ltd.
, as a body, in accordance with the terms of my engagement letter dated 30 September 2016. My work has been undertaken solely to prepare for your approval the
financial statements
of
Form It Shops & Showrooms Ltd.
and state those matters that I have agreed to state to the Board of Directors of
Form It Shops & Showrooms Ltd.
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Form It Shops & Showrooms Ltd.
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Form It Shops & Showrooms Ltd.
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Form It Shops & Showrooms Ltd.
. You consider that
Form It Shops & Showrooms Ltd.
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Form It Shops & Showrooms Ltd.. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Paterson Chartered Accountants
Tandle View House
2 Holly Brook
Streetbridge, Chadderton, Oldham
Lancashire
OL1 2SY
United Kingdom
Date:
21 October 2026
Form It Shops & Showrooms Ltd.
Statement of Financial Position
31 January 2026
20262025
Note££
Fixed assets    
Tangible assets 5
576,833
 
591,163
 
Current assets    
Debtors 6
37,275
 
102,492
 
Cash at bank and in hand
23,921
 
84,987
 
61,196
 
187,479
 
Creditors: amounts falling due within one year 7
(247,638
 )
(235,125
 )
Net current liabilities
(186,442
 )
(47,646
 )
Total assets less current liabilities 390,391   543,517  
Creditors: amounts falling due after more than one year 8 -  
(40,319
 )
Provisions for liabilities
(14,598
 )
(82,190
 )
Net assets
375,793
 
421,008
 
Capital and reserves    
Called up share capital
300
 
300
 
Share premium
14,700
 
14,700
 
Revaluation reserve
250,000
 
250,000
 
Profit and loss account
110,793
 
156,008
 
Shareholders funds
375,793
 
421,008
 
For the year ending
31 January 2026
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
21 October 2026
, and are signed on behalf of the board by:
Mr B Millard
Director
Company registration number:
10066623
Form It Shops & Showrooms Ltd.
Notes to the Financial Statements
Year ended
31 January 2026

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Royal Works Waggon Road
,
Mossley
,
Ashton-Under-Lyne
,
OL5 9HL
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity 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.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
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.
All equity instruments regardless of significance, and other financial assets that are individually significant, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2025:
1.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 February 2025
500,000
 
181,512
 
681,512
 
Additions -  
20,655
 
20,655
 
Disposals -  
(31,348
 )
(31,348
 )
At
31 January 2026
500,000
 
170,819
 
670,819
 
Depreciation      
At
1 February 2025
 -  
90,349
 
90,349
 
Charge -  
20,757
 
20,757
 
Disposals -  
(17,120
 )
(17,120
 )
At
31 January 2026
 -  
93,986
 
93,986
 
Carrying amount      
At
31 January 2026
500,000
 
76,833
 
576,833
 
At 31 January 2025
500,000
 
91,163
 
591,163
 

6 Debtors

20262025
££
Trade debtors
31,528
 
97,325
 
Other debtors
5,747
 
5,167
 
37,275
 
102,492
 

7 Creditors: amounts falling due within one year

20262025
££
Trade creditors
88,133
 
52,240
 
Taxation and social security
57,596
 
81,149
 
Other creditors
101,909
 
101,736
 
247,638
 
235,125
 

8 Creditors: amounts falling due after more than one year

20262025
££
Other creditors -  
40,319