Fordwater Properties Limited - Limited company accounts 16.3

REGISTERED NUMBER: 03247759 (England and Wales)

FORDWATER PROPERTIES LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 27 SEPTEMBER 2015 TO 1 OCTOBER 2016

Page

Company Information

1

Report of the Directors

2

Statement of Comprehensive Income

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6

Reconciliation of Equity

8

Reconciliation of Profit

10

DIRECTORS:

W J A Timpson

W J Timpson

P Majithia

REGISTERED OFFICE:

Timpson House

Claverton Road

Wythenshawe

Manchester

M23 9TT

REGISTERED NUMBER:

03247759 (England and Wales)

The directors present their report with the financial statements of the company for the period 27 September 2015 to 1 October 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 27 September 2015 to the date of this

report.

W J A Timpson

W J Timpson

P Majithia

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P Majithia - Director

31 March 2017

TURNOVER

222,219

240,920

Cost of sales

201,739

224,027

GROSS PROFIT

20,480

16,893

Administrative expenses

575

2

19,905

16,891

Other operating income

72,686

80,175

OPERATING PROFIT

2

92,591

97,066

Interest receivable and similar income

146

-

92,737

97,066

Interest payable and similar charges

71

25

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

92,666

97,041

Tax on profit on ordinary activities

3

38,108

2,090

PROFIT FOR THE FINANCIAL PERIOD

54,558

94,951

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

54,558

94,951

CURRENT ASSETS

Debtors

4

195,577

(261,359

)

Cash at bank

362,006

532,600

557,583

271,241

CREDITORS

Amounts falling due within one year

5

304,981

73,197

NET CURRENT ASSETS

252,602

198,044

TOTAL ASSETS LESS CURRENT LIABILITIES

252,602

198,044

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

252,600

198,042

SHAREHOLDERS' FUNDS

252,602

198,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 1 October 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 1 October 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 March 2017 and were signed on its behalf by:

P Majithia - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 28 September 2014

2

103,091

103,093

Changes in equity

Total comprehensive income

-

94,951

94,951

Balance at 26 September 2015

2

198,042

198,044

Changes in equity

Total comprehensive income

-

54,558

54,558

Balance at 1 October 2016

2

252,600

252,602

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements,

as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

2.	OPERATING PROFIT

The operating profit is stated after charging:

Period

Period

27.9.15

28.9.14

to

to

1.10.16

26.9.15

£

£

Other operating leases

201,739

224,027

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the period was as follows:

Period

Period

27.9.15

28.9.14

to

to

1.10.16

26.9.15

£

£

Current tax:

UK corporation tax

18,700

2,090

Corporation tax relating to prior period

19,408

-

Tax on profit on ordinary activities

38,108

2,090

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

113,692

(304,638

)

Amounts owed by group undertakings

40,000

40,000

Other debtors

41,885

3,279

195,577

(261,359

)

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

1,944

(4,571

)

Amounts owed to group undertakings

122,206

13,518

Taxation and social security

141,318

64,250

Other creditors

39,513

-

304,981

73,197

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

2

Ordinary

1

2

2

7.

RESERVES

Retained

earnings

£

At 27 September 2015

198,042

Profit for the period

54,558

At 1 October 2016

252,600

CURRENT ASSETS

Debtors

225,686

-

225,686

Cash at bank

444,374

-

444,374

670,060

-

670,060

CREDITORS

Amounts falling due within one year

(566,967

)

-

(566,967

)

NET CURRENT ASSETS

103,093

-

103,093

TOTAL ASSETS LESS CURRENT LIABILITIES

103,093

-

103,093

NET ASSETS

103,093

-

103,093

CAPITAL AND RESERVES

Called up share capital

2

-

2

Retained earnings

103,091

-

103,091

SHAREHOLDERS' FUNDS

103,093

-

103,093

CURRENT ASSETS

Debtors

(261,359

)

-

(261,359

)

Cash at bank

532,600

-

532,600

271,241

-

271,241

CREDITORS

Amounts falling due within one year

(73,197

)

-

(73,197

)

NET CURRENT ASSETS

198,044

-

198,044

TOTAL ASSETS LESS CURRENT LIABILITIES

198,044

-

198,044

NET ASSETS

198,044

-

198,044

CAPITAL AND RESERVES

Called up share capital

2

-

2

Retained earnings

198,042

-

198,042

SHAREHOLDERS' FUNDS

198,044

-

198,044

TURNOVER

240,920

-

240,920

Cost of sales

(224,027

)

-

(224,027

)

GROSS PROFIT

16,893

-

16,893

Administrative expenses

(2

)

-

(2

)

Other operating income

80,175

-

80,175

OPERATING PROFIT

97,066

-

97,066

Interest payable and similar charges

(25

)

-

(25

)

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

97,041

-

97,041

Tax on profit on ordinary activities

(2,090

)

-

(2,090

)

PROFIT FOR THE FINANCIAL PERIOD

94,951

-

94,951