Formwise Washrooms Limited - Abbreviated accounts 16.1

Formwise Washrooms Limited - Abbreviated accounts 16.1

FORMWISE WASHROOMS LTD - Company Information

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06576673 1.2.15 31.1.16 31.1.16 Company accounts Private Limited Company FY true false true false false true false Ordinary "A" 1.00000 Ordinary "B" 1.00000 Ordinary "C" 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure065766732015-01-31065766732016-01-31065766732015-02-012016-01-31065766732014-03-31065766732014-04-012015-01-31065766732015-01-3106576673ns12:England2015-02-012016-01-3106576673ns14:PoundSterling2015-02-012016-01-3106576673ns7:Director12015-02-012016-01-3106576673ns7:OrdinaryShareClass32015-02-012016-01-3106576673ns7:OrdinaryShareClass42015-02-012016-01-3106576673ns7:OrdinaryShareClass52015-02-012016-01-3106576673ns7:Director22015-02-012016-01-3106576673ns7:Director32015-02-012016-01-3106576673ns7:Director42015-02-012016-01-3106576673ns7:CompanySecretary2015-02-012016-01-3106576673ns7:RegisteredOffice2015-02-012016-01-3106576673ns7:EntityAccountantsOrAuditors2015-02-012016-01-3106576673ns5:NetGoodwill2015-02-012016-01-3106576673ns5:LandBuildingsns5:ShortLeaseholdProperties2015-02-012016-01-3106576673ns5:PlantMachinery2015-02-012016-01-3106576673ns5:FixturesFittings2015-02-012016-01-3106576673ns7:OrdinaryShareClass32016-01-3106576673ns7:OrdinaryShareClass32015-01-3106576673ns7:OrdinaryShareClass42016-01-3106576673ns7:OrdinaryShareClass42015-01-3106576673ns7:OrdinaryShareClass52016-01-3106576673ns7:OrdinaryShareClass52015-01-31
REGISTERED NUMBER: 06576673 (England and Wales)









ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

FOR

FORMWISE WASHROOMS LIMITED

FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

FORMWISE WASHROOMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2016







DIRECTORS: M Morris
T M Jupp
L J Morgan
S M Robinson





SECRETARY: T M Jupp





REGISTERED OFFICE: Unit 3 Wendel Point
Ryle Drive
Park Farm
Wellingborough
Northamptonshire
NN8 6AQ





REGISTERED NUMBER: 06576673 (England and Wales)





ACCOUNTANTS: Cook and Partners Limited
Chartered Accountants
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP
Page 1
FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)

ABBREVIATED BALANCE SHEET
31 JANUARY 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 303,040 251,976
303,040 251,976

CURRENT ASSETS
Stocks 998,698 870,109
Debtors 320,063 301,788
Cash at bank and in hand 400,699 79
1,719,460 1,171,976
CREDITORS
Amounts falling due within one year 4 1,342,143 1,098,948
NET CURRENT ASSETS 377,317 73,028
TOTAL ASSETS LESS CURRENT
LIABILITIES
680,357
325,004

CREDITORS
Amounts falling due after more than one
year
4
(172,708
)
(132,801
)

PROVISIONS FOR LIABILITIES (51,892 ) (47,481 )
NET ASSETS 455,757 144,722

CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and loss account 455,657 144,622
SHAREHOLDERS' FUNDS 455,757 144,722

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 notes form part of these abbreviated accounts

Page 2 continued...
FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)

ABBREVIATED BALANCE SHEET - continued
31 JANUARY 2016


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 June 2016 and were signed on its behalf by:





M Morris - Director


The notes form part of these abbreviated accounts

Page 3
FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors have assessed various factors and risks affecting the company and its ability in these difficult
economic times to continue to trade as a going concern. The directors have not identified any material
uncertainties or risks related to events or conditions that could affect the carrying values of the company's
assets and liabilities as at the balance sheet date and therefore the financial statements for the period ended
31st January 2016 have been prepared using the going concern basis of accounting.

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 net invoiced sales of goods, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised
evenly over its revised estimated useful life of 4 years from 2011.

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.

Short leasehold - Over the term of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due
allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

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.

Page 4 continued...
FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 JANUARY 2016

1. ACCOUNTING POLICIES - continued

Other loan
The sale and leaseback agreement between the company and The Formwise Pension Scheme has been
accounted for as a loan, the substance of the transaction is the raising of finance secured on an asset that
continues to be held by the seller and that is not disposed of.

The interest element of the obligations under this agreement is charged to the profit and loss account. The
capital element of the future payments is treated as a liability.

This accounting treatment is in accordance with Financial Reporting Standard 5 "Substance of Transactions"

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015
and 31 January 2016 400,000
AMORTISATION
At 1 February 2015
and 31 January 2016 400,000
NET BOOK VALUE

At 31 January 2016 -
At 31 January 2015 -

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 February 2015 367,382
Additions 87,803
At 31 January 2016 455,185
DEPRECIATION
At 1 February 2015 115,406
Charge for year 36,739
At 31 January 2016 152,145
NET BOOK VALUE
At 31 January 2016 303,040
At 31 January 2015 251,976

4. CREDITORS

Creditors include an amount of £ 65,063 (2015 - £ 90 ) for which security has been given.

Page 5 continued...
FORMWISE WASHROOMS LIMITED (REGISTERED NUMBER: 06576673)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 JANUARY 2016

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
33 Ordinary "A" £1 33 25
26 Ordinary "B" £1 26 25
26 Ordinary "C" £1 26 25
15 Ordinary "D" £1 15 25
100 100

During the year the 10 Ordinary "D" shares in issue were split into 8 Ordinary "A", 1 Ordinary "B" and 1
Ordinary "C" shares.

6. OTHER LOAN

The other loan represents monies due to The Formwise Pension Scheme under a sale and leaseback of the
company's domain name which has been accounted for in accordance with Financial Reporting Standard 5
"Substance of Transactions" as the substance of the agreement is the raising of finance secured on an asset that
continues to be held and that is not disposed of.

Page 6