1 December 2021 false No description of principal activity Taxfiler 2023.9 SC580984 business:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 SC580984 2021-11-30 SC580984 2021-12-01 2022-11-30 SC580984 business:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 SC580984 business:FilletedAccounts 2021-12-01 2022-11-30 SC580984 2022-11-30 SC580984 business:Director1 2021-12-01 2022-11-30 SC580984 business:Director2 2021-12-01 2022-11-30 SC580984 business:RegisteredOffice 2021-12-01 2022-11-30 SC580984 2021-11-30 SC580984 core:WithinOneYear 2022-11-30 SC580984 core:WithinOneYear 2021-11-30 SC580984 core:AfterOneYear 2022-11-30 SC580984 core:AfterOneYear 2021-11-30 SC580984 core:ShareCapital core:PreviouslyStatedAmount 2022-11-30 SC580984 core:ShareCapital core:PreviouslyStatedAmount 2021-11-30 SC580984 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2022-11-30 SC580984 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2021-11-30 SC580984 core:PreviouslyStatedAmount 2022-11-30 SC580984 core:PreviouslyStatedAmount 2021-11-30 SC580984 business:SmallEntities 2021-12-01 2022-11-30 SC580984 countries:Scotland 2021-12-01 2022-11-30 SC580984 core:FurnitureFittings 2021-12-01 2022-11-30 SC580984 core:FurnitureFittings 2021-11-30 SC580984 core:FurnitureFittings 2022-11-30 SC580984 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure
Company Registration No. SC580984 (Scotland)
Forget Me Not Assets Ltd Unaudited accounts for the year ended 30 November 2022
Forget Me Not Assets Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Forget Me Not Assets Ltd Company Information for the year ended 30 November 2022
Directors
Wendy Sneddon Karen Cormack
Company Number
SC580984 (Scotland)
Registered Office
2 Newark Road South Eastfield Industrial Estate Glenrothes KY7 4NS
Accountants
FBD Consultancy, Accounts & Tax Ltd Sgarbach House 10 Binniehill Road Cumbernauld North Lanarkshire G68 9AJ
- 3 -
Forget Me Not Assets Ltd Statement of financial position as at 30 November 2022
2022
2021
Notes
£
£
Fixed assets
Tangible assets
4
-
625
Investment property
5
920,000
840,500
920,000
841,125
Current assets
Inventories
37,322
-
Debtors
6
18,074
1,754
Cash at bank and in hand
6,585
100,908
61,981
102,662
Creditors: amounts falling due within one year
7
(310,253)
(292,163)
Net current liabilities
(248,272)
(189,501)
Total assets less current liabilities
671,728
651,624
Creditors: amounts falling due after more than one year
8
(639,481)
(563,516)
Provisions for liabilities
Deferred tax
(9,866)
(22,340)
Net assets
22,381
65,768
Capital and reserves
Called up share capital
100
100
Profit and loss account
22,281
65,668
Shareholders' funds
22,381
65,768
For the year ending 30 November 2022 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.
The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by
Wendy Sneddon Director Company Registration No. SC580984
- 4 -
Forget Me Not Assets Ltd Notes to the Accounts for the year ended 30 November 2022
1
Statutory information
Forget Me Not Assets Ltd is a private company, limited by shares, registered in Scotland, registration number SC580984. The registered office is 2 Newark Road South, Eastfield Industrial Estate, Glenrothes, KY7 4NS.
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.
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:
Fixtures & fittings
25% Straight line
4
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 December 2021
2,500
At 30 November 2022
2,500
Depreciation
At 1 December 2021
1,875
Charge for the year
625
At 30 November 2022
2,500
Net book value
At 30 November 2022
-
At 30 November 2021
625
5
Investment property
2022
£
Fair value at 1 December 2021
840,500
Additions
144,528
Net loss from fair value adjustments
(65,028)
At 30 November 2022
920,000
- 5 -
Forget Me Not Assets Ltd Notes to the Accounts for the year ended 30 November 2022
6
Debtors
2022
2021
£
£
Amounts falling due within one year
Trade debtors
17,702
-
Accrued income and prepayments
-
1,754
Other debtors
372
-
18,074
1,754
7
Creditors: amounts falling due within one year
2022
2021
£
£
VAT
3,297
-
Trade creditors
2,429
3,841
Other creditors
236,799
264,460
Loans from directors
67,461
23,862
Accruals
267
-
310,253
292,163
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
639,481
563,516
9
Transactions with related parties
The following balances relate to companies with the same persons of significant control: Loans due to related parties of £128,393 (2021: £154,976)
10
Average number of employees
During the year the average number of employees was 0 (2021: 0).
- 6 -