Format Computer Services Limited

Format Computer Services Limited

FORMAT COMPUTER SERVICES LIMITED - Company Information

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Company Registration No. 02524914 (England and Wales)
Format Computer Services Limited Unaudited accounts for the year ended 31 August 2016
Format Computer Services Limited Unaudited accounts Contents
Page
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Format Computer Services Limited Company Information for the year ended 31 August 2016
Directors
M.L.Baxter
Company Number
02524914 (England and Wales)
Registered Office
103 HIGH STREET WALTHAM CROSS HERTS EN8 7AN
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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Format Computer Services Limited Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Format Computer Services Limited for the year ended 31 August 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Format Computer Services Limited for the year ended 31 August 2016 as set out on pages 5 - 8 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 Format Computer Services Limited, as a body, in accordance with the terms of our engagement letter dated 3 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Format Computer Services Limited and state those matters that we have agreed to state to the Board of Directors of Format Computer Services Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Format Computer Services Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Format Computer Services 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 profit of Format Computer Services Limited. You consider that Format Computer Services 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 Format Computer Services 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.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 18 April 2017
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Format Computer Services Limited Statement of financial position as at 31 August 2016
2016 
2015 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
68 
3,106 
Current assets
Debtors
5
15,081 
23,637 
Cash at bank and in hand
- 
10,570 
15,081 
34,207 
Creditors: amounts falling due within one year
6
(19,282)
(36,872)
Net current liabilities
(4,201)
(2,665)
Net (liabilities)/assets
(4,133)
441 
Capital and reserves
Called up share capital
7
100 
100 
Profit and loss account
(4,233)
341 
Shareholders' funds
(4,133)
441 
For the year ending 31 August 2016 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 18 April 2017.
M.L.Baxter Director Company Registration No. 02524914
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Format Computer Services Limited Statement of Changes in Equity as at 31 August 2016
Share capital 
Profit & loss account 
Total 
£ 
£ 
£ 
At 1 September 2014
100 
(24,252)
(24,152)
Profit for the year
24,593 
24,593 
At 31 August 2015
100 
341 
441 
At 1 September 2015
100 
341 
441 
Loss for the year
(4,574)
(4,574)
At 31 August 2016
100 
(4,233)
(4,133)
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Format Computer Services Limited Notes to the Accounts for the year ended 31 August 2016
1
Statutory information
Format Computer Services Limited is a private company, limited by shares, registered in England and Wales, registration number 02524914. The registered office and principal place of business is 103 HIGH STREET, WALTHAM CROSS, HERTS, EN8 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 August 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Motor vehicles
15% straight line
Fixtures & fittings
10% straight line
Computer equipment
33 1/3 % straight line
Going concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
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Format Computer Services Limited Notes to the Accounts for the year ended 31 August 2016
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 September 2015
17,256 
22,363 
9,151 
11,969 
60,739 
At 31 August 2016
17,256 
22,363 
9,151 
11,969 
60,739 
Depreciation
At 1 September 2015
17,256 
19,834 
9,070 
11,473 
57,633 
Charge for the year
- 
2,528 
22 
488 
3,038 
At 31 August 2016
17,256 
22,362 
9,092 
11,961 
60,671 
Net book value
At 31 August 2016
- 
1 
59 
8 
68 
At 31 August 2015
- 
2,529 
81 
496 
3,106 
5
Debtors
2016 
2015 
£ 
£ 
Trade debtors
15,081 
23,637 
6
Creditors: amounts falling due within one year
2016 
2015 
£ 
£ 
Bank loans and overdrafts
2,467 
- 
Trade creditors
3,788 
7,629 
Corporation tax
- 
7,866 
Other taxes and social security costs
3,500 
4,634 
Other creditors
4,646 
15,427 
Loans from directors
4,881 
1,316 
19,282 
36,872 
7
Share capital
2016 
2015 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
The company was under the control of Patricia Baxter throughout the current year. Patricia Baxter is personally interested in 99% of the company's issued share capital. Mr.D.Baxter, husband of the director received £30,000 in commission payments during the year (2015 £30,000). These payments are calculated on an arms length basis.
9
Average number of employees
During the year the average number of employees was 1 (2015: 0).
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