Fordhams Limited - Period Ending 2014-09-30

Registration number: 4797907

Fordhams Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Sudworths Limited
Chartered Accountants
The Ground Floor Offices
The Mill House
The Mill Business Park, Maidstone Road
Ashford
Kent
TN26 1AE

Fordhams Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fordhams Limited
for the Year Ended 31 March 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fordhams Limited for the year ended 31 March 2014 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 Fordhams Limited, as a body, in accordance with the terms of our engagement letterdated 7 February 2007. Our work has been undertaken solely to prepare for your approval the accounts of Fordhams 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 Fordhams Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fordhams 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 Fordhams Limited. You consider that Fordhams 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 Fordhams 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.

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

Sudworths Limited
Chartered Accountants
The Ground Floor Offices
The Mill House
The Mill Business Park, Maidstone Road
Ashford
Kent
TN26 1AE

17 December 2014

Page 1

Fordhams Limited
(Registration number: 4797907)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					49,600			53,740
Tangible fixed assets					42,249			45,745
					91,849			99,485
Current assets
Stocks					129,612			114,956
Debtors					249,268			290,362
Cash at bank and in hand					38,559			98,323
					417,439			503,641
Creditors: Amounts falling due within one year					(151,577)			(242,357)
Net current assets					265,862			261,284
Net assets					357,711			360,769
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					357,611			360,669
Shareholders' funds					357,711			360,769

For the year ending 31 March 2014 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 17 December 2014 and signed on its behalf by:

.........................................
Mr George Fordham
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Fordhams Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... 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 April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 as follows:

Asset class	Amortisation method and rate
Goodwill	over 20 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% net book value
Fixtures & fittings	25% net book value
Motor vehicles	25% net book value

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Fordhams Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		82,800			157,779			240,579
Additions		-			10,544			10,544
At 31 March 2014		82,800			168,323			251,123
Depreciation
At 1 April 2013		29,060			112,034			141,094
Charge for the year		4,140			14,040			18,180
At 31 March 2014		33,200			126,074			159,274
Net book value
At 31 March 2014		49,600			42,249			91,849
At 31 March 2013		53,740			45,745			99,485

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4