Formark Scaffolding (Holdings) Limited - Limited company - abbreviated

REGISTERED NUMBER: 02776196 (England and Wales)

Abbreviated Accounts for the Year Ended 30 April 2015

for

Formark Scaffolding (Holdings) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M P Coote

D M Coote

M W Coote

M R Endersby

SECRETARY:

M R Endersby

REGISTERED OFFICE:

The Old Gas Works

1 Godstone Road

Whyteleafe

Surrey

CR3 0EG

REGISTERED NUMBER:

02776196 (England and Wales)

ACCOUNTANTS:

Fitzgerald Mithia Springer Limited

Chartered Accountants

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Intangible assets

2

3,380

4,940

Tangible assets

3

82,947

80,596

86,327

85,536

CURRENT ASSETS

Debtors

1,263,490

871,263

Cash at bank

47,978

46,635

1,311,468

917,898

CREDITORS

Amounts falling due within one year

4

(805,818

)

(435,367

)

NET CURRENT ASSETS

505,650

482,531

TOTAL ASSETS LESS CURRENT
LIABILITIES

591,977

568,067

CREDITORS

Amounts falling due after more than one
year

4

(70,236

)

(82,329

)

PROVISIONS FOR LIABILITIES

(17,203

)

(16,119

)

NET ASSETS

504,538

469,619

CAPITAL AND RESERVES

Called up share capital

5

300,060

Share premium

95,511

Profit and loss account

108,967

74,048

SHAREHOLDERS' FUNDS

504,538

469,619

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 29 January 2016 and were signed on its behalf by:

M R Endersby - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related

Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Income is recognised when the companny provides good and services.

Intangible assets

Licence acquired in 2006 is being amortised evenly over ten years.

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.

Motor vehicles

-

25% on reducing balance

Deferred tax

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

sheet date where transactions or events that result in an obligation to pay more, or a right to pay less, tax in the

future have occurred at the balance sheet date.

This is subject to deferred tax assets only being recognised if it is considered more likely than not that there will

be suitable profits from which the future reversal of the underlying timing differences can be deducted.

Timing differences are differences arising between the Company's taxable profits and its results as stated in the

financial statements, which are capable of reversal in one or more subsequent periods.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

and 30 April 2015

15,600

AMORTISATION

At 1 May 2014

10,660

Amortisation for year

1,560

At 30 April 2015

12,220

NET BOOK VALUE

At 30 April 2015

3,380

At 30 April 2014

4,940

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

111,037

Additions

24,000

At 30 April 2015

135,037

DEPRECIATION

At 1 May 2014

30,441

Charge for year

21,649

At 30 April 2015

52,090

NET BOOK VALUE

At 30 April 2015

82,947

At 30 April 2014

80,596

4.

CREDITORS

Creditors include an amount of £ 226,779 (30.4.14 - £ 139,158 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.15

30.4.14

value:

£

2,000

Ordinary

£1

2,000

88,060

Deferred ordinary

£1

88,060

210,000

Preference

£1

210,000

300,060

The rights of the non-equity shares held by the holding company are as follows :

Deferred ordinary shares give no entitlement to distribution of profits or assets, except in the event of a winding

up, in which case there will be a return of capital after the rights of the holders of the preference shares have

been satisfied.

Preference shares give entitlement to a fixed cumulative preference dividend at 7.5% per annum, with interest

accruing on any balances due but unpaid. Capital is returnable, including any arrears of dividend, as first

preference in a winding up or at redemption, if sooner. The holding company as preference shareholder has

waived the redemption requirement until further notice.

Formark Scaffolding (Holdings) Limited - Limited company - abbreviated - 11.9

Formark Scaffolding (Holdings) Limited - Limited company - abbreviated - 11.9