Forest Mountains Ltd. 12456217 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the wholesale of wine, beer, spirits and other alcoholic beverages. Digita Accounts Production Advanced 6.30.9574.0 true true 12456217 2022-03-01 2023-02-28 12456217 2023-02-28 12456217 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2023-02-28 12456217 2 2023-02-28 12456217 core:RetainedEarningsAccumulatedLosses 2023-02-28 12456217 core:ShareCapital 2023-02-28 12456217 core:CurrentFinancialInstruments 2023-02-28 12456217 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12456217 core:Non-currentFinancialInstruments 2023-02-28 12456217 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 12456217 bus:SmallEntities 2022-03-01 2023-02-28 12456217 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12456217 bus:FullAccounts 2022-03-01 2023-02-28 12456217 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12456217 bus:RegisteredOffice 2022-03-01 2023-02-28 12456217 bus:CompanySecretary1 2022-03-01 2023-02-28 12456217 bus:Director1 2022-03-01 2023-02-28 12456217 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2022-03-01 2023-02-28 12456217 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12456217 countries:EnglandWales 2022-03-01 2023-02-28 12456217 2021-03-01 2022-02-28 12456217 2022-02-28 12456217 bus:OrdinaryShareClass1 bus:CumulativeNon-redeemableShares 2022-02-28 12456217 2 2022-02-28 12456217 core:RetainedEarningsAccumulatedLosses 2022-02-28 12456217 core:ShareCapital 2022-02-28 12456217 core:CurrentFinancialInstruments 2022-02-28 12456217 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 12456217 core:Non-currentFinancialInstruments 2022-02-28 12456217 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12456217

Forest Mountains Ltd.
trading as Forest Mountains
Unaudited Filleted Financial Statements
for the Year Ended 28 February 2023

Forest Mountains Ltd.
trading as Forest Mountains

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Forest Mountains Ltd.
trading as Forest Mountains

Company Information

Director | Mr Avinav Nanda

Company secretary | Mr Avinav Nanda

Registered office | 10 Greenwood Terrace Salford Lancashire M5 3GG

Accountants | The Moffatts Partnership LLP Suite 1.1, First Floor Jackson House Sibson Road Sale M33 7RR

Forest Mountains Ltd.
trading as Forest Mountains

(Registration number: 12456217)
Balance Sheet as at 28 February 2023

| Note | 2023 £ | 2022 £
Current assets |  |  |
Debtors | 4 | 32,099 | 23,900
Cash at bank and in hand |  | 10,536 | 49,296
|  | 42,635 | 73,196
Creditors: Amounts falling due within one year | 5 | (11,832) | (33,300)
Total assets less current liabilities |  | 30,803 | 39,896
Creditors: Amounts falling due after more than one year | 5 | (32,471) | (39,600)
Net (liabilities)/assets |  | (1,668) | 296
Capital and reserves |  |  |
Called up share capital | 6 | 1 | 1
Retained earnings |  | (1,669) | 295
Shareholders' (deficit)/funds |  | (1,668) | 296

For the financial year ending 28 February 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 August 2023

......................................... Mr Avinav Nanda Director |  |

Forest Mountains Ltd.
trading as Forest Mountains

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Greenwood Terrace
Salford
Lancashire
M5 3GG
England & Wales

These financial statements were authorised for issue by the director on 25 August 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Forest Mountains Ltd.
trading as Forest Mountains

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Forest Mountains Ltd.
trading as Forest Mountains

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

Forest Mountains Ltd.
trading as Forest Mountains

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4 | Debtors

| Note | 2023 £ | 2022 £
Trade debtors |  | - | 1,870
Amounts owed by related parties |  | 32,000 | 22,000
Other debtors |  | 30 | 30
Income tax asset |  | 69 | -
|  | 32,099 | 23,900

5 | Creditors

| Note | 2023 £ | 2022 £
Due within one year |  |  |
Loans and borrowings | 7 | 10,525 | 9,900
Taxation and social security |  | - | 69
Accruals and deferred income |  | 600 | 600
Other creditors |  | 707 | 22,731
|  | 11,832 | 33,300

| Note | 2023 £ | 2022 £
Due after one year |  |  |
Loans and borrowings | 7 | 32,471 | 39,600

6 | Share capital

Allotted, called up and fully paid shares

| 2023 | 2022
| No. | £ | No. | £
Ordinary share class 1 of £1 each | 1 | 1 | 1 | 1

Forest Mountains Ltd.
trading as Forest Mountains

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7 | Loans and borrowings

| 2023 £ | 2022 £
Non-current loans and borrowings
Bank borrowings | 32,471 | 39,600

| 2023 £ | 2022 £
Current loans and borrowings
Bank borrowings | 10,525 | 9,900