Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30true22022-05-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC310479 2022-05-01 2023-04-30 SC310479 2021-05-01 2022-04-30 SC310479 2023-04-30 SC310479 2022-04-30 SC310479 c:Director1 2022-05-01 2023-04-30 SC310479 c:Director2 2022-05-01 2023-04-30 SC310479 c:RegisteredOffice 2022-05-01 2023-04-30 SC310479 d:PlantMachinery 2022-05-01 2023-04-30 SC310479 d:PlantMachinery 2023-04-30 SC310479 d:PlantMachinery 2022-04-30 SC310479 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 SC310479 d:MotorVehicles 2022-05-01 2023-04-30 SC310479 d:MotorVehicles 2023-04-30 SC310479 d:MotorVehicles 2022-04-30 SC310479 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 SC310479 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 SC310479 d:CurrentFinancialInstruments 2023-04-30 SC310479 d:CurrentFinancialInstruments 2022-04-30 SC310479 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC310479 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 SC310479 d:ShareCapital 2023-04-30 SC310479 d:ShareCapital 2022-04-30 SC310479 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC310479 d:RetainedEarningsAccumulatedLosses 2022-04-30 SC310479 c:OrdinaryShareClass1 2022-05-01 2023-04-30 SC310479 c:OrdinaryShareClass1 2023-04-30 SC310479 c:OrdinaryShareClass1 2022-04-30 SC310479 c:FRS102 2022-05-01 2023-04-30 SC310479 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 SC310479 c:FullAccounts 2022-05-01 2023-04-30 SC310479 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC310479










J & M FORBES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

 
J & M FORBES LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr J Forbes 
Mrs M Forbes 




REGISTERED NUMBER
SC310479



REGISTERED OFFICE
Clunebeg
Killiecrankie

Pitlochry

Perthshire

PH16 5LS




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
J & M FORBES LIMITED
REGISTERED NUMBER: SC310479

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
66,027
48,096

  
66,027
48,096

CURRENT ASSETS
  

Stocks
  
265,304
376,507

Debtors: amounts falling due within one year
 5 
1,139,971
1,184,873

Cash at bank and in hand
  
599,975
354,912

  
2,005,250
1,916,292

Creditors: amounts falling due within one year
 6 
(24,094)
(23,053)

NET CURRENT ASSETS
  
 
 
1,981,156
 
 
1,893,239

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,047,183
1,941,335

  

NET ASSETS
  
2,047,183
1,941,335


CAPITAL AND RESERVES
  

Called up share capital 
  
2
2

Profit and loss account
  
2,047,181
1,941,333

  
2,047,183
1,941,335


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.




Mr J Forbes
Mrs M Forbes
Director
Director

Page 1

 
J & M FORBES LIMITED
REGISTERED NUMBER: SC310479

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
J & M FORBES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


GENERAL INFORMATION

J & M Forbes Limited is a private company, limited by shares, incorporated in Scotland with registration number SC310479. The registered office is Clunebeg, Killiecrankie, Pitlochry, Perthshire, PH16 5LS.
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
J & M FORBES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
J & M FORBES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Total

£
£
£



COST OR VALUATION


At 1 May 2022
45,694
68,777
114,471


Additions
19,078
24,795
43,873


Disposals
-
(22,893)
(22,893)



At 30 April 2023

64,772
70,679
135,451



DEPRECIATION


At 1 May 2022
32,569
33,806
66,375


Charge for the year on owned assets
6,443
13,423
19,866


Disposals
-
(16,817)
(16,817)



At 30 April 2023

39,012
30,412
69,424



NET BOOK VALUE



At 30 April 2023
25,760
40,267
66,027



At 30 April 2022
13,125
34,971
48,096

Page 5

 
J & M FORBES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


DEBTORS

2023
2022
£
£


Trade debtors
25,622
102,446

Other debtors
1,114,349
1,082,427

1,139,971
1,184,873



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
1,519
1,321

Other creditors
22,575
21,732

24,094
23,053



7.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



Page 6