Formrite Precision Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05803087 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

Formrite Precision Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

G J Neale

Mrs M M Neale

REGISTERED OFFICE:

Westgate

Aldridge

West Midlands

WS9 8EN

REGISTERED NUMBER:

05803087 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

694,356

145,017

694,356

145,017

CURRENT ASSETS

Stocks

185,356

102,306

Debtors

417,071

521,162

Cash at bank and in hand

46,942

14,932

649,369

638,400

CREDITORS

Amounts falling due within one year

(643,982

)

(517,550

)

NET CURRENT ASSETS

5,387

120,850

TOTAL ASSETS LESS CURRENT LIABILITIES

699,743

265,867

CREDITORS

Amounts falling due after more than one year

4

(337,791

)

(10,140

)

PROVISIONS FOR LIABILITIES

(23,500

)

(25,400

)

NET ASSETS

338,452

230,327

CAPITAL AND RESERVES

Called up share capital

5

2

2

Revaluation reserve

106,040

-

Profit and loss account

232,410

230,325

SHAREHOLDERS' FUNDS

338,452

230,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 October 2015 and were signed on its behalf by:

G J Neale - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Freehold property will be depreciated with effect from 1st July 2015.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

34,000

AMORTISATION

At 1 July 2014

and 30 June 2015

34,000

NET BOOK VALUE

At 30 June 2015

-

At 30 June 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 July 2014

309,006

Additions

548,711

Disposals

(24,050

)

Grants

(75,000

)

Revaluations

106,040

At 30 June 2015

864,707

DEPRECIATION

At 1 July 2014

163,989

Charge for year

30,412

Eliminated on disposal

(24,050

)

At 30 June 2015

170,351

NET BOOK VALUE

At 30 June 2015

694,356

At 30 June 2014

145,017

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

2015

2014

£

£

Repayable by instalments

238,611

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

2

Ordinary

£1

2

2

6.	ULTIMATE PARENT COMPANY

G & M Holdings Limited is regarded by the directors as being the company's ultimate parent company.

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

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

financial statements of Formrite Precision Limited for the year ended 30 June 2015 which comprise the Profit and Loss

Account, the 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Formrite Precision Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Formrite Precision Limited and state those matters that we have agreed to state to the Board of Directors of Formrite Precision 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, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Formrite Precision 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 Formrite Precision Limited. You consider that Formrite Precision 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 Formrite Precision 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

5 October 2015