| Forum 126 Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Forum 126 Limited for the year ended 31 May 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the abbreviated accounts of Forum 126 Limited for the year ended 31 May 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given me. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, I am subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Director of Forum 126 Limited, as a body, in accordance with the terms of my engagement letter dated 10 October 2012. My work has been undertaken solely to prepare for your approval the accounts of Forum 126 Limited and state those matters that I have agreed to state to the Director of Forum 126 Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Forum 126 Limited and its Board of Directors as a body for my work or for this report. |
| It is your duty to ensure that Forum 126 Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Forum 126 Limited. You consider that Forum 126 Limited 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 accounts of Forum 126 Limited. 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 abbreviated accounts. |
|
| Monica Irwin FCA |
| Chartered Accountants |
| 1 Barn Close |
| Cumnor Hill |
| Oxford |
| Oxfordshire |
| OX2 9JP |
|
| 24 February 2015 |
|
| Forum 126 Limited |
| Registered number: |
03002124 |
| Abbreviated Balance Sheet |
| as at 31 May 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
- |
|
|
327 |
|
| Current assets |
| Debtors |
|
|
5,648 |
|
|
6,743 |
| Cash at bank and in hand |
|
|
- |
|
|
6,737 |
|
|
|
5,648 |
|
|
13,480 |
|
| Creditors: amounts falling due within one year |
|
|
(134,616) |
|
|
(69,443) |
|
| Net current liabilities |
|
|
|
(128,968) |
|
|
(55,963) |
|
| Net liabilities |
|
|
|
(128,968) |
|
|
(55,636) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
(129,068) |
|
|
(55,736) |
|
| Shareholder's funds |
|
|
|
(128,968) |
|
|
(55,636) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and the Financial Reporting Standard for Smaller Entities ( effective April 2008) |
|
|
|
| Mrs S J Vare |
| Director |
| Approved by the board on 24 February 2015 |
|
| Forum 126 Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 May 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Fixtures and Fittings |
20% straight line |
|
Furniture and equipment |
20% straight line |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Going Concern Basis of Accounting |
|
The going concern basis is not appropriate as the company ceased to trade in September 2013. The director has supported the company in 2013/2014 by not seeking repayment of her loan account. The director has also supported the company in 2013/2014 by ensuring that all current debts and obligations are being met. |
|
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2013 |
34,561 |
|
At 31 May 2014 |
34,561 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2013 |
34,234 |
|
Charge for the year |
327 |
|
At 31 May 2014 |
34,561 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2014 |
- |
|
At 31 May 2013 |
327 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
- |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Future Trading |
|
The company ceased to trade in September 2013 with the closure of the Nursery. |
