Company Registration No. 02524914 (England and Wales)
Format Computer Services Limited
Unaudited accounts
for the year ended 31 August 2017
Format Computer Services Limited
Unaudited accounts
Contents
Format Computer Services Limited
Company Information
for the year ended 31 August 2017
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
Format Computer Services Limited
Statement of financial position
as at 31 August 2017
Cash at bank and in hand
8,352
-
Creditors: amounts falling due within one year
(14,595)
(19,282)
Net current assets/(liabilities)
364
(4,201)
Net assets/(liabilities)
410
(4,133)
Called up share capital
100
100
Profit and loss account
310
(4,233)
Shareholders' funds
410
(4,133)
For the year ending 31 August 2017 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 and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 31 May 2018.
M.L.Baxter
Director
Company Registration No. 02524914
Format Computer Services Limited
Notes to the Accounts
for the year ended 31 August 2017
Format Computer Services Limited is a private company, limited by shares, registered in England and Wales, registration number 02524914. The registered office 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.
These financial statements for the year ended 31 August 2017 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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.
Format Computer Services Limited
Notes to the Accounts
for the year ended 31 August 2017
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 2016
17,256
22,363
9,151
11,969
60,739
At 31 August 2017
17,256
22,363
9,151
11,969
60,739
At 1 September 2016
17,256
22,362
9,092
11,961
60,671
Charge for the year
-
-
22
-
22
At 31 August 2017
17,256
22,362
9,114
11,961
60,693
At 31 August 2017
-
1
37
8
46
At 31 August 2016
-
1
59
8
68
Trade debtors
6,282
15,081
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
-
2,467
Taxes and social security
6,858
3,500
Other creditors
4,242
4,646
Loans from directors
1,845
4,881
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 Matthew Baxter throughout the current year. Matthew Baxter is personally interested in 99% of the company's issued share capital. Mr.D.Baxter, father of the director, is personally interested in 1% of the company's issued share capital. During the year,Matthew and David Baxter received £11000 in dividends from the company (2016: nil).
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Average number of employees
During the year the average number of employees was 1 (2016: 1).
