Formation Management Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02835487 (England and Wales)

Abbreviated Accounts for the Year Ended 31 July 2015

for

Formation Management Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P F Earnshaw

Mrs A J Radford

SECRETARY:

Mrs A J Radford

REGISTERED OFFICE:

155 Ardleigh Green Road

Hornchurch

Essex

RM11 2LF

REGISTERED NUMBER:

02835487 (England and Wales)

ACCOUNTANTS:

Ashton Hart David Lee

Sterling House

Langston Road

Loughton

Essex

IG10 3FA

FIXED ASSETS

Tangible assets

2

87,761

112,895

CURRENT ASSETS

Debtors

594,384

867,374

Cash at bank and in hand

487,081

177,682

1,081,465

1,045,056

CREDITORS

Amounts falling due within one year

857,063

479,315

NET CURRENT ASSETS

224,402

565,741

TOTAL ASSETS LESS CURRENT
LIABILITIES

312,163

678,636

CREDITORS

Amounts falling due after more than one
year

(52,499

)

236,875

NET ASSETS

364,662

441,761

CAPITAL AND RESERVES

Called up share capital

3

4

Profit and loss account

364,658

441,757

SHAREHOLDERS' FUNDS

364,662

441,761

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 26 April 2016 and were signed on its behalf by:

Mrs A J Radford - Director

P F Earnshaw - 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 January 2015).

Turnover

Turnover represents invoiced contracts and amounts due under contracts not yet invoiced, excluding value

added tax. To the extent that revenues are recognised in advance of the customers being invoiced

they are included as debtors, amounts due under contracts not yet invoiced.

Tangible fixed assets

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

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.33% 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.

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.

Employee benefit trust

During the year the Company made a contribution into The Formation Management Limited 2014 Employee

Benefit Trust ("The Scheme") for the benefit of its officers, employees and their wider families.

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements"

the Company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it

considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of

the rights or other access to those present economic benefits.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

304,165

Disposals

(1,900

)

At 31 July 2015

302,265

DEPRECIATION

At 1 August 2014

191,270

Charge for year

24,683

Eliminated on disposal

(1,449

)

At 31 July 2015

214,504

NET BOOK VALUE

At 31 July 2015

87,761

At 31 July 2014

112,895

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

4

Ordinary

£1

4