Forge Mill Consultancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07142892 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2019

for

Forge Mill Consultancy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

A M Phipps

REGISTERED OFFICE:

1 Forge Mill Cottages

Forge Lane Footherley

Lichfield

Staffordshire

WS14 0HX

REGISTERED NUMBER:

07142892 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

4

12,245

14,938

CURRENT ASSETS

Debtors

5

6,340

4,447

Cash at bank

106,032

98,900

112,372

103,347

CREDITORS

Amounts falling due within one year

6

(49,326

)

(57,522

)

NET CURRENT ASSETS

63,046

45,825

TOTAL ASSETS LESS CURRENT LIABILITIES

75,291

60,763

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

75,191

60,663

SHAREHOLDERS' FUNDS

75,291

60,763

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 16 October 2019 and were signed by:

A M Phipps - Director

1.	STATUTORY INFORMATION

Forge Mill Consultancy 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment

-

33% on cost

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 March 2018

7,675

27,560

35,235

Additions

784

-

784

At 28 February 2019

8,459

27,560

36,019

DEPRECIATION

At 1 March 2018

4,122

16,175

20,297

Charge for year

631

2,846

3,477

At 28 February 2019

4,753

19,021

23,774

NET BOOK VALUE

At 28 February 2019

3,706

8,539

12,245

At 28 February 2018

3,553

11,385

14,938

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 March 2018

27,560

Transfer to ownership

(27,560

)

At 28 February 2019

-

DEPRECIATION

At 1 March 2018

16,175

Transfer to ownership

(16,175

)

At 28 February 2019

-

NET BOOK VALUE

At 28 February 2019

-

At 28 February 2018

11,385

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

6,340

4,447

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

3,392

Trade creditors

-

3,464

Taxation and social security

13,378

13,184

Other creditors

35,948

37,482

49,326

57,522

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 March 2018

60,663

Profit for the year

16,528

Dividends

(2,000

)

At 28 February 2019

75,191

9.	RELATED PARTY DISCLOSURES

A M Phipps

Director and shareholder

2019

2018

£

£

Directors remuneration (including benefits in kind)

24,537

23,425

Amount due to the related party at the balance sheet date

19,358

21,971

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Forge Mill Consultancy Limited for the year ended 28 February 2019 which comprise the Profit

and loss account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Forge Mill Consultancy Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Forge Mill Consultancy Limited and state those matters that we have agreed to state to the director of Forge Mill Consultancy Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forge Mill Consultancy Limited and its director for our work or for this report.

It is your duty to ensure that Forge Mill Consultancy Limited 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 Forge Mill Consultancy Limited. You consider that Forge Mill Consultancy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Forge Mill Consultancy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

16 October 2019