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REGISTERED NUMBER: 01123152 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Foreman Investments Limited

Foreman Investments Limited (Registered number: 01123152)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Foreman Investments Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: N A C Foreman
R C Foreman





SECRETARY: N A C Foreman





REGISTERED OFFICE: Curtis House
34 Third Avenue
Hove
East Sussex
BN3 2PD





REGISTERED NUMBER: 01123152 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

Foreman Investments Limited (Registered number: 01123152)

Statement of Financial Position
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,677 3,370
Investment property 5 689,174 689,174
691,851 692,544

CURRENT ASSETS
Debtors 6 30,437 55,260
Cash at bank 68,127 111,236
98,564 166,496
CREDITORS
Amounts falling due within one year 7 736,025 744,810
NET CURRENT LIABILITIES (637,461 ) (578,314 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,390

114,230

PROVISIONS FOR LIABILITIES 772 640
NET ASSETS 53,618 113,590

CAPITAL AND RESERVES
Called up share capital 101 101
Capital redemption reserve 401 401
Retained earnings 53,116 113,088
53,618 113,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Foreman Investments Limited (Registered number: 01123152)

Statement of Financial Position - continued
30 April 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:





N A C Foreman - Director


Foreman Investments Limited (Registered number: 01123152)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Foreman Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

The directors have considered the potential impact of the ongoing global COVID-19 pandemic on the company's activities and operations and concluded that the pandemic has not and should not have an impact on the company's trading for the next twelve months.

Turnover
Turnover represents net invoiced sales of services provided, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvement - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreman Investments Limited (Registered number: 01123152)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
Improvement machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2022
and 30 April 2023 22,081 57,654 45,677 8,436 133,848
DEPRECIATION
At 1 May 2022 20,792 56,428 44,984 8,274 130,478
Charge for year 257 245 137 54 693
At 30 April 2023 21,049 56,673 45,121 8,328 131,171
NET BOOK VALUE
At 30 April 2023 1,032 981 556 108 2,677
At 30 April 2022 1,289 1,226 693 162 3,370

5. INVESTMENT PROPERTY

The Director has considered the fair value of the investment property and does not believe there to be a material difference to it's carrying value.

Foreman Investments Limited (Registered number: 01123152)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 10,283 11,715
Amounts owed by associates - 6,000
Other debtors - 15,500
VAT 6,987 -
Prepayments 13,167 22,045
30,437 55,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 18,408 28,082
Amounts owed to associates 717,216 697,668
Tax 11 10,777
Social security and other taxes - 371
VAT - 1,119
Directors' current accounts 312 812
Accrued expenses 78 5,981
736,025 744,810

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.23 30.4.22
£    £   
Within one year - 70,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end N A C Foreman was owed £312 by the company (2022 - £812); the amount is unsecured, interest free and has no specific repayment terms.

10. RELATED PARTY DISCLOSURES

The company received £111,000 in relation to management fees (2022: £101,751) from Curtis Storage (Lancing) Limited, a company of which the majority shareholder is the same.

At the year end the company owed £711,621 (2022: £697,668) to Curtis Storage (Lancing) Limited. A loan facility of £700,000 was granted to the company by Curtis Storage (Lancing) Limited; £680,000 of which has been drawn down. The loan will bear interest at the rate of 2% per annum and is repayable at the mutual agreement of the parties.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.