IRIS Accounts Production v23.3.0.418 02536990 Board of Directors 1.5.22 30.4.23 30.4.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025369902022-04-30025369902023-04-30025369902022-05-012023-04-30025369902021-04-30025369902021-05-012022-04-30025369902022-04-3002536990ns10:Originalns15:EnglandWales2022-05-012023-04-3002536990ns14:PoundSterlingns10:Original2022-05-012023-04-3002536990ns10:Originalns10:Director12022-05-012023-04-3002536990ns10:Original2022-05-012023-04-3002536990ns10:Original2023-04-3002536990ns10:Originalns10:PrivateLimitedCompanyLtd2022-05-012023-04-3002536990ns10:Originalns10:SmallEntities2022-05-012023-04-3002536990ns10:Originalns10:AuditExempt-NoAccountantsReport2022-05-012023-04-3002536990ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-05-012023-04-3002536990ns10:SmallCompaniesRegimeForAccountsns10:Original2022-05-012023-04-3002536990ns10:Originalns10:FullAccounts2022-05-012023-04-3002536990ns10:Original2022-04-3002536990ns10:Originalns5:CurrentFinancialInstruments2023-04-3002536990ns10:Originalns5:CurrentFinancialInstruments2022-04-3002536990ns10:Originalns5:Non-currentFinancialInstruments2023-04-3002536990ns10:Originalns5:Non-currentFinancialInstruments2022-04-3002536990ns5:ShareCapitalns10:Original2023-04-3002536990ns5:ShareCapitalns10:Original2022-04-3002536990ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3002536990ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-04-3002536990ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-04-3002536990ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-3002536990ns10:Originalns10:RegisteredOffice2022-05-012023-04-3002536990ns10:Original12022-05-012023-04-3002536990ns10:Original2021-05-012022-04-3002536990ns10:Originalns5:FurnitureFittings2022-04-3002536990ns10:Originalns5:FurnitureFittings2022-05-012023-04-3002536990ns10:Originalns5:FurnitureFittings2023-04-3002536990ns10:Originalns5:FurnitureFittings2022-04-3002536990ns10:Original2022-04-3002536990ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3002536990ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-04-3002536990ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-04-30
REGISTERED NUMBER: 02536990 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Forcecore Limited

Forcecore Limited (Registered number: 02536990)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Forcecore Limited (Registered number: 02536990)

Balance Sheet
30 April 2023

2023 2022
Notes £ £
Fixed assets
Tangible assets 5 13,780 -
Investment property 6 606,000 606,000
619,780 606,000

Current assets
Stocks - 341,000
Debtors 7 2,379 1,396
Investments 8 118,360 118,360
Cash at bank 1,171,407 59,504
1,292,146 520,260
Creditors
Amounts falling due within one year 9 (637,464 ) (573,569 )
Net current assets/(liabilities) 654,682 (53,309 )
Total assets less current liabilities 1,274,462 552,691

Creditors
Amounts falling due after more than one
year

10

(113,990

)

(36,390

)

Provisions for liabilities (40,100 ) (30,475 )
Net assets 1,120,372 485,826

Forcecore Limited (Registered number: 02536990)

Balance Sheet - continued
30 April 2023

2023 2022
Notes £ £
Capital and reserves
Called up share capital 11,026 11,026
Fair value reserve 11 624,132 624,132
Retained earnings 485,214 (149,332 )
1,120,372 485,826

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.

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 18 September 2023 and were signed on its behalf by:





Mr A P Darling - Director


Forcecore Limited (Registered number: 02536990)

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


1. Statutory information

Forcecore Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02536990

Registered office: Marine House
Marine Park
Gapton Hall Road
Great Yarmouth
Norfolk
NR31 0NB

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Forcecore Limited (Registered number: 02536990)

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


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 balance sheet date.


Forcecore Limited (Registered number: 02536990)

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


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 10% on reducing balance

4. Employees and directors

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

Forcecore Limited (Registered number: 02536990)

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


5. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 May 2022 235
Additions 14,783
At 30 April 2023 15,018
Depreciation
At 1 May 2022 235
Charge for year 1,003
At 30 April 2023 1,238
Net book value
At 30 April 2023 13,780
At 30 April 2022 -

6. Investment property
Total
£
Fair value
At 1 May 2022
and 30 April 2023 606,000
Net book value
At 30 April 2023 606,000
At 30 April 2022 606,000

7. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 2,379 1,396

8. Current asset investments
2023 2022
£ £
Shares in group undertakings 118,360 118,360

Forcecore Limited (Registered number: 02536990)

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


9. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 358,739 365,889
Amounts owed to group undertakings 203,924 203,924
Taxation and social security 72,515 1,525
Other creditors 2,286 2,231
637,464 573,569

10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 113,990 36,390

11. Reserves
Fair value
reserve
£
At 1 May 2022
and 30 April 2023 624,132

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.