Forrest Fabrications (Accrington) Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03255101

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MAY 2014

FOR

FORREST FABRICATIONS (ACCRINGTON)

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr F Forrest

Mrs E Forrest

SECRETARY:

Mrs J Blackshaw

REGISTERED OFFICE:

York House

York Street

Accrington

Lancashire

BB5 4BT

REGISTERED NUMBER:

03255101

ACCOUNTANTS:

Ainsworths Limited

Chartered Accountants

The Globe Centre

St James Square

Accrington

BB5 0RE

FIXED ASSETS

Intangible assets

2

8,750

17,500

Tangible assets

3

8,620

2,446

17,370

19,946

CURRENT ASSETS

Stocks

15,450

16,550

Debtors

101,611

85,309

117,061

101,859

CREDITORS

Amounts falling due within one year

4

97,644

104,876

NET CURRENT ASSETS/(LIABILITIES)

19,417

(3,017

)

TOTAL ASSETS LESS CURRENT LIABILITIES

36,787

16,929

CREDITORS

Amounts falling due after more than one year

4

6,435

-

NET ASSETS

30,352

16,929

CAPITAL AND RESERVES

Called up share capital

5

900

900

Capital redemption reserve

9

9

Profit and loss account

29,443

16,020

SHAREHOLDERS' FUNDS

30,352

16,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2014 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 10th November 2014 and were signed on its behalf by:

Mr F Forrest - 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 April 2008).

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 2006, is being amortised evenly over its estimated useful life of ten years.

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.

Motor vehicles

-

25% on reducing balance

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.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

and 31st May 2014

87,500

AMORTISATION

At 1st June 2013

70,000

Amortisation for year

8,750

At 31st May 2014

78,750

NET BOOK VALUE

At 31st May 2014

8,750

At 31st May 2013

17,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st June 2013

18,015

Additions

10,888

Disposals

(16,705

)

At 31st May 2014

12,198

DEPRECIATION

At 1st June 2013

15,569

Charge for year

2,370

Eliminated on disposal

(14,361

)

At 31st May 2014

3,578

NET BOOK VALUE

At 31st May 2014

8,620

At 31st May 2013

2,446

4.

CREDITORS

Creditors include an amount of £ 7,773 for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

900

Ordinary

£1

900

900

900

B Ordinary

£0.01

-

-

900

900

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st May 2014 and 31st May 2013:

31.5.14

31.5.13

£

£

Mr F Forrest and Mrs E Forrest

Balance outstanding at start of year

(10,626

)

(28,386

)

Amounts advanced

37,681

73,607

Amounts repaid

(34,970

)

(55,847

)

Balance outstanding at end of year

(7,915

)

(10,626

)