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Registration number: 07529418

Foreza Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Foreza Consulting Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Foreza Consulting Limited

Company Information

Directors

Mr Dean Robert Hunter

Mr Dean Robert Hunter

Company secretary

Mr Dean Robert Hunter

Registered office

149-151 Mortimer Street
Herne Bay
Kent
CT6 5HA

Accountants

C W W Ltd
Accountancy & Taxation
149-151 Mortimer Street
Herne Bay
Kent
CT6 5HA

 

Foreza Consulting Limited

(Registration number: 07529418)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,398

4,308

Current assets

 

Debtors

5

1,980

1,980

Cash at bank and in hand

 

25,274

27,456

 

27,254

29,436

Creditors: Amounts falling due within one year

6

(16,463)

(16,938)

Net current assets

 

10,791

12,498

Total assets less current liabilities

 

14,189

16,806

Provisions for liabilities

(681)

(681)

Net assets

 

13,508

16,125

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

13,507

16,124

Shareholders' funds

 

13,508

16,125

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 October 2023 and signed on its behalf by:
 

.........................................
Mr Dean Robert Hunter
Company secretary and director

 

Foreza Consulting Limited

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 United Kingdom.

The address of its registered office is:
149-151 Mortimer Street
Herne Bay
Kent
CT6 5HA
England

These financial statements were authorised for issue by the Board on 20 October 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 financial statements have been prepared on a going concern basis.

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.

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.

 

Foreza Consulting Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% RB

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.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Foreza Consulting Limited

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

3

Staff numbers

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

 

Foreza Consulting Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2022

1,336

18,261

5,418

25,015

Additions

-

223

-

223

At 28 February 2023

1,336

18,484

5,418

25,238

Depreciation

At 1 March 2022

1,183

14,937

4,587

20,707

Charge for the year

38

887

208

1,133

At 28 February 2023

1,221

15,824

4,795

21,840

Carrying amount

At 28 February 2023

115

2,660

623

3,398

At 28 February 2022

153

3,324

831

4,308

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,980

1,980

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

15,120

15,122

Accruals and deferred income

1,134

1,303

Other creditors

209

513

16,463

16,938

7

Share capital

Allotted, called up and fully paid shares

 

Foreza Consulting Limited

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

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £1.00 per each Ordinary

 

53,000

 

50,500

Final dividend of Nil per each NewRow_0

 

-

 

-

   

53,000

 

50,500