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REGISTERED NUMBER: 11778395 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

AIC FORSTER PROPERTIES LIMITED

AIC FORSTER PROPERTIES LIMITED (REGISTERED NUMBER: 11778395)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AIC FORSTER PROPERTIES LIMITED

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr C Forster
Mr I D Forster
Mr A S Forster





REGISTERED OFFICE: 310 Chester Road
Whitby
Ellesmere Port
CH66 2NY





REGISTERED NUMBER: 11778395 (England and Wales)





ACCOUNTANTS: LBW Chartered Accountants
Enterprise House
The Courtyard
Old Courthouse Road
Bromborough
Merseyside
CH62 4UE

AIC FORSTER PROPERTIES LIMITED (REGISTERED NUMBER: 11778395)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 310,432 213,227

CURRENT ASSETS
Cash at bank 7,603 3,583

CREDITORS
Amounts falling due within one year 5 107,079 77,328
NET CURRENT LIABILITIES (99,476 ) (73,745 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,956

139,482

CREDITORS
Amounts falling due after more than one
year

6

228,470

158,750
NET LIABILITIES (17,514 ) (19,268 )

CAPITAL AND RESERVES
Called up share capital 8 99 99
Retained earnings 9 (17,613 ) (19,367 )
SHAREHOLDERS' FUNDS (17,514 ) (19,268 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

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 26 October 2023 and were signed on its behalf by:





Mr C Forster - Director


AIC FORSTER PROPERTIES LIMITED (REGISTERED NUMBER: 11778395)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

AIC Forster Properties Limited 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
The financial statements have been prepared on the basis that the enterprise will continue in operational existence for the foreseeable future. This means in particular that the profit and loss account and balance sheet assume no intention nor necessity to liquidate or curtail significantly the scale of operation. Further, the financial statements have been prepared on the basis that continued support will be given by the company's directors.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 213,227
Additions 97,205
At 31 January 2023 310,432
NET BOOK VALUE
At 31 January 2023 310,432
At 31 January 2022 213,227

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other creditors 107,079 77,328

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Other creditors 228,470 158,750

7. SECURED DEBTS

Bank loans totalling £228,470 with Paragon Bank PLC is secured by a legal charge dated 3 June 2020 and 4 June 2021 and with Precise Mortgages dated 15 December 2022 on the Investment property.

AIC FORSTER PROPERTIES LIMITED (REGISTERED NUMBER: 11778395)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
99 Ordinary £1 99 99

9. RESERVES
Retained
earnings
£   

At 1 February 2022 (19,367 )
Profit for the year 1,754
At 31 January 2023 (17,613 )

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2023 and 31 January 2022:

31.1.23 31.1.22
£    £   
Mr C Forster
Balance outstanding at start of year 24,451 42,995
Amounts advanced 15,450 -
Amounts repaid (5,533 ) (18,544 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,368 24,451

Mr I D Forster
Balance outstanding at start of year 24,451 10,556
Amounts advanced 15,450 17,495
Amounts repaid (5,533 ) (3,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,368 24,451

Mr A S Forster
Balance outstanding at start of year 24,451 10,556
Amounts advanced 15,450 21,159
Amounts repaid (5,533 ) (7,264 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,368 24,451

11. ULTIMATE CONTROLLING PARTY

It is the view of the directors that there is no controlling party.