Forshaw Engineering Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04860113 (England and Wales)

FORSHAW ENGINEERING LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R A Forshaw

Mrs P Forshaw

Mr S R Forshaw

SECRETARY:

Mrs P Forshaw

REGISTERED OFFICE:

Station Yard

Bolton Road

Abbey Village

Chorley

Lancashire

PR6 8DA

REGISTERED NUMBER:

04860113 (England and Wales)

ACCOUNTANTS:

Rushtons

Chartered Accountants

Shorrock House

1 Faraday Court

Fulwood

Preston

Lancashire

PR2 9NB

BANKERS:

Lloyds Bank plc

94 Fishergate

Preston

Lancashire

PR1 2JB

FIXED ASSETS

Intangible assets

2

35,000

40,000

Tangible assets

3

10,923

14,223

45,923

54,223

CURRENT ASSETS

Stocks

109,675

223,423

Debtors

237,559

72,212

Cash at bank and in hand

48,036

55,280

395,270

350,915

CREDITORS

Amounts falling due within one year

4

394,578

305,728

NET CURRENT ASSETS

692

45,187

TOTAL ASSETS LESS CURRENT
LIABILITIES

46,615

99,410

CREDITORS

Amounts falling due after more than
one year

4

-

(2,075

)

PROVISIONS FOR LIABILITIES

(1,975

)

(2,389

)

NET ASSETS

44,640

94,946

CAPITAL AND RESERVES

Called up share capital

5

1,000

Profit and loss account

43,640

93,946

SHAREHOLDERS' FUNDS

44,640

94,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 19 January 2017 and were
signed on its behalf by:

Mr R A Forshaw - 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 January

2015).

Turnover

Turnover represents net invoiced value of goods and services supplied, excluding value

added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.

Site cabins

-

10% on cost

Plant and equipment

-

15% on reducing balance

Office equipment

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

100,000

AMORTISATION

At 1 October 2015

60,000

Amortisation for year

5,000

At 30 September 2016

65,000

NET BOOK VALUE

At 30 September 2016

35,000

At 30 September 2015

40,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

68,678

Additions

748

At 30 September 2016

69,426

DEPRECIATION

At 1 October 2015

54,455

Charge for year

4,048

At 30 September 2016

58,503

NET BOOK VALUE

At 30 September 2016

10,923

At 30 September 2015

14,223

4.

CREDITORS

Creditors include an amount of £ 2,075 (2015 - £ 4,447 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1,000

Ordinary

£1

1,000