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Company Registration No. 07064953 (England and Wales)
Forever Beta Limited Unaudited accounts for the year ended 30 November 2021
Forever Beta Limited Unaudited accounts Contents
Page
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Forever Beta Limited Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
86,192 
103,746 
Investments
219 
219 
86,411 
103,965 
Current assets
Inventories
- 
17,690 
Debtors
405,932 
966,395 
Cash at bank and in hand
298,889 
548,088 
704,821 
1,532,173 
Creditors: amounts falling due within one year
(562,931)
(704,412)
Net current assets
141,890 
827,761 
Total assets less current liabilities
228,301 
931,726 
Creditors: amounts falling due after more than one year
(375,000)
(500,166)
Provisions for liabilities
Deferred tax
(22,601)
(25,936)
Net (liabilities)/assets
(169,300)
405,624 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(170,300)
404,624 
Shareholders' funds
(169,300)
405,624 
For the year ending 30 November 2021 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 1 August 2022 and were signed on its behalf by
R I Gadsby Director Company Registration No. 07064953
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Forever Beta Limited Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
Forever Beta Limited is a private company, limited by shares, registered in England and Wales, registration number 07064953. The registered office is Ground Floor, 8-10 New North Place, London, EC2A 4JA.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the rendering of creative advertising services.
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:
Plant & machinery
25% Reducing Balance Basis
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Forever Beta Limited Notes to the Accounts for the year ended 30 November 2021
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 December 2020
259,726 
At 30 November 2021
259,726 
Depreciation
At 1 December 2020
155,980 
Charge for the year
17,554 
At 30 November 2021
173,534 
Net book value
At 30 November 2021
86,192 
At 30 November 2020
103,746 
5
Investments
Other investments 
£ 
Valuation at 1 December 2020
219 
Valuation at 30 November 2021
219 
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Forever Beta Limited Notes to the Accounts for the year ended 30 November 2021
6
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
148,449 
560,562 
Amounts due from group undertakings etc.
- 
104,624 
Accrued income and prepayments
88,032 
86,574 
Other debtors
169,451 
214,635 
405,932 
966,395 
7
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
159,888 
258,709 
Trade creditors
172,965 
252,752 
Amounts owed to group undertakings and other participating interests
10,162 
- 
Taxes and social security
204,186 
35,810 
Other creditors
15,730 
157,141 
562,931 
704,412 
8
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
375,000 
500,166 
9
Operating lease commitments
2021 
2020 
£ 
£ 
At 30 November 2021 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
- 
38,000 
Within two to five years
220,500 
- 
220,500 
38,000 
10
Controlling party
The company's immediate and ultimate parent undertaking is Forever Beta Holdings Ltd. Forever Beta Holdings Limited (company number 09044358) was incorporated in England & Wales.
11
Average number of employees
During the year the average number of employees was 22 (2020: 22).
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