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Registration number: 4652119

Forward Specialist Training & Counselling Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Forrester Boyd Robson
Chartered Accountants
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Forward Specialist Training & Counselling Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Forward Specialist Training & Counselling Limited

Company Information

Director

M E Williams

Registered office

84 Chanterlands Avenue
Hull
East Yorkshire
HU5 3TS

Accountants

Forrester Boyd Robson
Chartered Accountants
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Forward Specialist Training & Counselling Limited

(Registration number: 4652119)
Balance Sheet as at 31 December 2016

Note

2016
£

2015
£

Fixed assets

 

Tangible assets

4

752

885

Current assets

 

Debtors

5

21,861

25,707

Cash at bank and in hand

 

1

1

 

21,862

25,708

Creditors: Amounts falling due within one year

6

(20,366)

(20,484)

Net current assets

 

1,496

5,224

Total assets less current liabilities

 

2,248

6,109

Creditors: Amounts falling due after more than one year

6

(2,227)

(2,967)

Provisions for liabilities

(128)

(208)

Net (liabilities)/assets

 

(107)

2,934

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(109)

2,932

Total equity

 

(107)

2,934

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 September 2017
 

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

M E Williams

Director

 

Forward Specialist Training & Counselling Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 4652119.

The address of its registered office is:
84 Chanterlands Avenue
Hull
East Yorkshire
HU5 3TS

These financial statements were authorised for issue by the director on 25 September 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

This is the first year the company has adopted FRS 102 Section 1A.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% of NBV

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Forward Specialist Training & Counselling Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2015 - 1).

 

Forward Specialist Training & Counselling Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2016

4,734

4,734

At 31 December 2016

4,734

4,734

Depreciation

At 1 January 2016

3,849

3,849

Charge for the year

133

133

At 31 December 2016

3,982

3,982

Carrying amount

At 31 December 2016

752

752

At 31 December 2015

885

885

5

Debtors

2016
£

2015
£

Trade debtors

980

550

Other debtors

20,881

25,157

Total current trade and other debtors

21,861

25,707

6

Creditors

2016
£

2015
£

Due within one year

 

Bank loans and overdrafts

7,289

8,212

Trade creditors

 

2,885

1,344

Other creditors

 

8,962

9,836

Accruals and deferred income

 

1,230

1,092

 

20,366

20,484

Due after one year

 

Loans and borrowings

2,227

2,967

 

Forward Specialist Training & Counselling Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7

Related party transactions

Transactions with directors

2016

At 1 January 2016
£

Advances to directors
£

Repayments by director
£

At 31 December 2016
£

M E Williams

Interest free and repayable upon demand

22,633

17,888

(22,165)

18,356

         
       

 

8

Transition to FRS 102

The company has adopted FRS 102 1A in the year ended 31st December 2016.

There has been no changes to the figures reported in the accounts as a result of the adoption of FRS 102 1A in this year or the preceding year.


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