Fordhouse Limited - Period Ending 2021-12-31
Fordhouse Limited - Period Ending 2021-12-31
Registration number:
Fordhouse Limited
for the Year Ended 31 December 2021
Fordhouse Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Fordhouse Limited
Company Information
Director |
Mr D L Poyner |
Registered office |
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Accountants |
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Fordhouse Limited
(Registration number: 09928822)
Balance Sheet as at 31 December 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
(25,964) |
8,333 |
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Shareholders' (deficit)/funds |
(25,962) |
8,335 |
For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Fordhouse Limited
(Registration number: 09928822)
Balance Sheet as at 31 December 2021
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Fordhouse Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Fordhouse Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold office |
Straight line over 20 years |
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Fordhouse Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Disposals |
( |
( |
At 31 December 2021 |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 31 December 2021 |
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Carrying amount |
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At 31 December 2021 |
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At 31 December 2020 |
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Included within the net book value of land and buildings above is £58,310 (2020 - £62,101) in respect of short leasehold land and buildings.
Stocks |
2021 |
2020 |
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Other inventories |
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Debtors |
2021 |
2020 |
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Other debtors |
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- |
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- |
Fordhouse Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Trade creditors |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2021 |
2020 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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1 |
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1 |
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Related party transactions |
At 31 December 2021 there was a balance of £80,412 (2020 - £45,481) due from the director. This balance is included in Other debtors.
The company owed £353,774 (2020 - £340,000) to companies which the director is also director of and has an interest in. These balances are included in Other creditors.