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REGISTERED NUMBER: 07022108 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

M Forshaw Ltd

M Forshaw Ltd (Registered number: 07022108)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M Forshaw Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mr M M Forshaw
Mr M Forshaw





REGISTERED OFFICE: Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB





REGISTERED NUMBER: 07022108 (England and Wales)





ACCOUNTANTS: Bennett Kirkhope Smith
Chartered Certified Accountants
Suites 5 & 6 The Printworks
Hey Road
Barrow
Clitheroe
Lancashire
BB7 9WB

M Forshaw Ltd (Registered number: 07022108)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 861,594 733,063
861,594 733,063

CURRENT ASSETS
Stocks 15,399 26,127
Debtors 6 119,290 144,960
Cash at bank 272,710 388,384
407,399 559,471
CREDITORS
Amounts falling due within one year 7 62,879 241,267
NET CURRENT ASSETS 344,520 318,204
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,206,114

1,051,267

CREDITORS
Amounts falling due after more than one
year

8

(222,125

)

(161,610

)

PROVISIONS FOR LIABILITIES 9 (163,500 ) (138,823 )
NET ASSETS 820,489 750,834

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 820,389 750,734
SHAREHOLDERS' FUNDS 820,489 750,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

M Forshaw Ltd (Registered number: 07022108)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr M Forshaw - Director


M Forshaw Ltd (Registered number: 07022108)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. STATUTORY INFORMATION

M Forshaw Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold property improvement s - 4% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


M Forshaw Ltd (Registered number: 07022108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2021 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 18,000
AMORTISATION
At 1 January 2022
and 31 December 2022 18,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

M Forshaw Ltd (Registered number: 07022108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


5. TANGIBLE FIXED ASSETS
Leasehold
property
improvement Plant and Motor Computer
s machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 3,773 1,059,846 59,757 3,761 1,127,137
Additions - 179,323 146,347 - 325,670
Disposals - (150,167 ) - - (150,167 )
At 31 December 2022 3,773 1,089,002 206,104 3,761 1,302,640
DEPRECIATION
At 1 January 2022 1,358 351,011 39,984 1,721 394,074
Charge for year 151 104,966 21,615 763 127,495
Eliminated on disposal - (80,523 ) - - (80,523 )
At 31 December 2022 1,509 375,454 61,599 2,484 441,046
NET BOOK VALUE
At 31 December 2022 2,264 713,548 144,505 1,277 861,594
At 31 December 2021 2,415 708,835 19,773 2,040 733,063

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2022 37,467
Additions 107,397
At 31 December 2022 144,864
DEPRECIATION
At 1 January 2022 21,661
Charge for year 17,377
At 31 December 2022 39,038
NET BOOK VALUE
At 31 December 2022 105,826
At 31 December 2021 15,806

M Forshaw Ltd (Registered number: 07022108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 69,839 57,259
Other debtors 2,661 3,762
Tax and social security 37,758 42,068
VAT - 28,485
Prepayments 9,032 13,386
119,290 144,960

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts and finance leases 23,570 6,609
Trade creditors 19,350 225,783
Social security and other taxes 4,822 3,133
VAT 8,314 -
Credit card 209 259
Accrued expenses 6,614 5,483
62,879 241,267

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Hire purchase contracts and finance leases 73,737 15,963
Directors loan account 148,388 145,647
222,125 161,610

9. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax
Accelerated capital allowances 163,500 138,823

Deferred
tax
£   
Balance at 1 January 2022 138,823
Charge to Income Statement during year 24,677
Accelerated capital allowances
Balance at 31 December 2022 163,500

M Forshaw Ltd (Registered number: 07022108)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 Ordinary £1 100 100