Abbreviated Company Accounts - FORTHWAY LIMITED

Registered Number SC228057

FORTHWAY LIMITED

Abbreviated Accounts

31 March 2015

FORTHWAY LIMITED Registered Number SC228057

Abbreviated Balance Sheet as at 31 March 2015

	Notes	2015	2014
		£	£
Fixed assets
Investments	2	1	1
		1	1
Current assets
Debtors		458,280	658,285
Cash at bank and in hand		189,094	527
		647,374	658,812
Creditors: amounts falling due within one year		(43,742)	(57,505)
Net current assets (liabilities)		603,632	601,307
Total assets less current liabilities		603,633	601,308
Total net assets (liabilities)		603,633	601,308
Capital and reserves
Called up share capital		107,700	107,700
Share premium account		719,299	719,299
Profit and loss account		(223,366)	(225,691)
Shareholders' funds		603,633	601,308

For the year ending 31 March 2015 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 1 May 2015

And signed on their behalf by:
P N B Kennedy, Director

FORTHWAY LIMITED Registered Number SC228057

Notes to the Abbreviated Accounts for the period ended 31 March 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value of goods and services provided during the period, and is stated net of Value Added Tax. Turnover is recognised when the goods have been delivered or the services provided to customers.

Intangible assets amortisation policy
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Other accounting policies
Deferred taxation
Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date.
A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the reversal of the underlying timing differences can be deducted.

Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. As the company is subject to the small companies regime, group accounts have not been prepared.

2Fixed assets Investments
Shares in group undertakings
Cost or valuation at 31 March 2014 and 2015 1 1

Holdings of more than 20%
At 31 March 2014, the company held more than 20% of the share capital of the
following company:

Company Class of Proportion of Nature of Accounting
share capital shares held business reference date
%
Forthway Ipswich Ltd Ordinary 100 Property trading 31 January 2015

The aggregate amount of capital and reserves and the results of Forthway Ipswich Ltd
for the period ended 31 January 2015 was as follows:
Capital and Profit/(loss)
Reserves for the period
2015
£ £
Forthway Ipswich Ltd 0 231,929

The profit for the 18 month period arose from the write –back of the loan from the parent
company, which was required in order to reflect the net proceeds remaining after the cessation
of trade. Application has been submitted to the Registrar of Companies for striking off.