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Company Registration No. SC415503 (Scotland)
Forth Property Ltd Unaudited accounts for the year ended 31 March 2023
Forth Property Ltd Unaudited accounts Contents
Page
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Forth Property Ltd Company Information for the year ended 31 March 2023
Director
Gennaro Cortellessa
Company Number
SC415503 (Scotland)
Registered Office
3a Jordan Lane Edinburgh Midlothian EH10 4RB Scotland
Accountants
AGL Tax Solutions LLP 2A Station Yard Haddington East Lothian EH41 3PP
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Forth Property Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
1,168,974 
587,198 
Current assets
Debtors
1,326 
- 
Cash at bank and in hand
7,221 
8,672 
8,547 
8,672 
Creditors: amounts falling due within one year
(791,173)
(299,992)
Net current liabilities
(782,626)
(291,320)
Net assets
386,348 
295,878 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
386,338 
295,868 
Shareholders' funds
386,348 
295,878 
For the year ending 31 March 2023 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 director acknowledges his 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 and authorised for issue on 1 November 2023 and were signed on its behalf by
Gennaro Cortellessa Director Company Registration No. SC415503
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Forth Property Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Forth Property Ltd is a private company, limited by shares, registered in Scotland, registration number SC415503. The registered office is 3a Jordan Lane, , Edinburgh, Midlothian, EH10 4RB, Scotland.
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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Taxation
Taxation for the year comprises current 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.
4
Investment property
2023 
£ 
Fair value at 1 April 2022
587,198 
Additions
581,776 
At 31 March 2023
1,168,974 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,326 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
6,912 
19 
Taxes and social security
21,222 
14,434 
Other creditors
536,775 
54,475 
Loans from directors
225,664 
230,464 
Accruals
600 
600 
791,173 
299,992 
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Forth Property Ltd Notes to the Accounts for the year ended 31 March 2023
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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