Futureform Building Systems Limited - Period Ending 2015-12-31

Registration number: 06734493

Futureform Building Systems Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Carter Nicholls Limited
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

Futureform Building Systems Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Futureform Building Systems Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Futureform Building Systems Limited for the year ended 31 December 2015 set out on pages 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 Futureform Building Systems Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Futureform Building Systems Limited and state those matters that we have agreed to state to them, 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 Futureform Building Systems Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Futureform Building Systems Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Futureform Building Systems Limited. You consider that Futureform Building Systems 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 accounts of Futureform Building Systems 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 accounts.

......................................

Carter Nicholls Limited
Victoria House
Stanbridge Park
Staplefield Lane
Staplefield
West Sussex
RH17 6AS

5 September 2016

Page 1

Futureform Building Systems Limited
(Registration number: 06734493)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					819,000			936,000
Current assets
Debtors					1			1
Net assets					819,001			936,001
Capital and reserves
Called up share capital		3			1			1
Revaluation reserve					1,170,000			1,170,000
Profit and loss account					(351,000)			(234,000)
Shareholders' funds					819,001			936,001

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 5 September 2016 and signed on its behalf by:

.........................................
Mr Steven John Barrett
Director

.........................................
Mr Anthony Fox
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Futureform Building Systems Limited
(Registration number: 06734493)
Abbreviated Balance Sheet at 31 December 2015
......... continued

.........................................
Mr Christopher James Gibbard
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Futureform Building Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life.

Asset class	Amortisation method and rate
Goodwill	10% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Total £
Cost
At 1 January 2015		1,170,000			1,170,000
At 31 December 2015		1,170,000			1,170,000
Depreciation
At 1 January 2015		234,000			234,000
Charge for the year		117,000			117,000
At 31 December 2015		351,000			351,000
Net book value
At 31 December 2015		819,000			819,000
At 31 December 2014		936,000			936,000

Page 4

Futureform Building Systems Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

4

Control

The company is controlled by Futureform Europe Limited.

Page 5