IRIS Accounts Production v23.3.1.45 04546496 Board of Directors 1.1.23 30.6.23 30.6.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045464962022-12-31045464962023-06-30045464962023-01-012023-06-30045464962021-06-30045464962021-07-012022-12-31045464962022-12-3104546496ns10:Originalns15:EnglandWales2023-01-012023-06-3004546496ns14:PoundSterlingns10:Original2023-01-012023-06-3004546496ns10:Originalns10:Director12023-01-012023-06-3004546496ns10:Original2023-01-012023-06-3004546496ns10:Original2023-06-3004546496ns10:Originalns10:PrivateLimitedCompanyLtd2023-01-012023-06-3004546496ns10:Originalns10:SmallEntities2023-01-012023-06-3004546496ns10:Originalns10:AuditExempt-NoAccountantsReport2023-01-012023-06-3004546496ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-06-3004546496ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-012023-06-3004546496ns10:Originalns10:FullAccounts2023-01-012023-06-3004546496ns10:Originalns10:OrdinaryShareClass12023-01-012023-06-3004546496ns10:Originalns10:Director22023-01-012023-06-3004546496ns10:Originalns10:Director32023-01-012023-06-3004546496ns10:CompanySecretary1ns10:Original2023-01-012023-06-3004546496ns10:Originalns10:RegisteredOffice2023-01-012023-06-3004546496ns10:Original2022-12-3104546496ns10:Originalns5:CurrentFinancialInstruments2023-06-3004546496ns10:Originalns5:CurrentFinancialInstruments2022-12-3104546496ns10:Originalns5:Non-currentFinancialInstruments2023-06-3004546496ns10:Originalns5:Non-currentFinancialInstruments2022-12-3104546496ns5:ShareCapitalns10:Original2023-06-3004546496ns5:ShareCapitalns10:Original2022-12-3104546496ns10:Originalns5:CapitalRedemptionReserve2023-06-3004546496ns10:Originalns5:CapitalRedemptionReserve2022-12-3104546496ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3004546496ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3104546496ns10:Originalns5:LeaseholdImprovements2023-01-012023-06-3004546496ns10:Originalns5:PlantMachinery2023-01-012023-06-3004546496ns10:Originalns5:FurnitureFittings2023-01-012023-06-3004546496ns10:Originalns5:MotorVehicles2023-01-012023-06-3004546496ns10:Originalns5:ComputerEquipment2023-01-012023-06-3004546496ns10:Original2021-07-012022-12-3104546496ns10:Originalns5:LandBuildings2022-12-3104546496ns10:Originalns5:LeaseholdImprovements2022-12-3104546496ns10:Originalns5:PlantMachinery2022-12-3104546496ns10:Originalns5:LandBuildings2023-01-012023-06-3004546496ns10:Originalns5:LandBuildings2023-06-3004546496ns10:Originalns5:LeaseholdImprovements2023-06-3004546496ns10:Originalns5:PlantMachinery2023-06-3004546496ns10:Originalns5:LandBuildings2022-12-3104546496ns10:Originalns5:LeaseholdImprovements2022-12-3104546496ns10:Originalns5:PlantMachinery2022-12-3104546496ns10:Originalns5:FurnitureFittings2022-12-3104546496ns10:Originalns5:MotorVehicles2022-12-3104546496ns10:Originalns5:ComputerEquipment2022-12-3104546496ns10:Original2022-12-3104546496ns10:Originalns5:FurnitureFittings2023-06-3004546496ns10:Originalns5:MotorVehicles2023-06-3004546496ns10:Originalns5:ComputerEquipment2023-06-3004546496ns10:Originalns5:FurnitureFittings2022-12-3104546496ns10:Originalns5:MotorVehicles2022-12-3104546496ns10:Originalns5:ComputerEquipment2022-12-3104546496ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004546496ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104546496ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3004546496ns10:Originalns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104546496ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2023-06-3004546496ns5:BetweenOneFiveYearsns10:Originalns5:HirePurchaseContracts2022-12-3104546496ns10:Originalns5:HirePurchaseContracts2023-06-3004546496ns10:Originalns5:HirePurchaseContracts2022-12-3104546496ns10:Originalns5:WithinOneYear2023-06-3004546496ns10:Originalns5:WithinOneYear2022-12-3104546496ns5:BetweenOneFiveYearsns10:Original2023-06-3004546496ns5:BetweenOneFiveYearsns10:Original2022-12-3104546496ns10:Originalns5:AllPeriods2023-06-3004546496ns10:Originalns5:AllPeriods2022-12-3104546496ns5:Securedns10:Original2023-06-3004546496ns5:Securedns10:Original2022-12-3104546496ns10:Originalns10:OrdinaryShareClass12023-06-30
REGISTERED NUMBER: 04546496 (England and Wales)






















Unaudited Financial Statements

for the Period

1 January 2023 to 30 June 2023

for

Frank B Forman & Sons Limited

Frank B Forman & Sons Limited (Registered number: 04546496)






Contents of the Financial Statements
for the Period 1 January 2023 to 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frank B Forman & Sons Limited

Company Information
for the Period 1 January 2023 to 30 June 2023







DIRECTORS: G A Forman
J W Forman
Mrs S A Forman





SECRETARY: G A Forman





REGISTERED OFFICE: The Mill
Rotten Row
Theddlethorpe
Mablethorpe
Lincolnshire
LN12 1NX





REGISTERED NUMBER: 04546496 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Frank B Forman & Sons Limited (Registered number: 04546496)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,254,540 1,332,752
Investment property 5 97,459 97,459
1,351,999 1,430,211

CURRENT ASSETS
Stocks 479,501 711,713
Debtors 6 1,984,863 1,858,705
Cash at bank and in hand 862,515 534,243
3,326,879 3,104,661
CREDITORS
Amounts falling due within one year 7 (1,934,155 ) (1,700,612 )
NET CURRENT ASSETS 1,392,724 1,404,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,744,723

2,834,260

CREDITORS
Amounts falling due after more than one
year

8

(627,764

)

(914,063

)

PROVISIONS FOR LIABILITIES (152,903 ) (163,129 )
NET ASSETS 1,964,056 1,757,068

CAPITAL AND RESERVES
Called up share capital 11 1 1
Capital redemption reserve 1 1
Retained earnings 1,964,054 1,757,066
SHAREHOLDERS' FUNDS 1,964,056 1,757,068

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

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

Frank B Forman & Sons Limited (Registered number: 04546496)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 February 2024 and were signed on its behalf by:





G A Forman - Director


Frank B Forman & Sons Limited (Registered number: 04546496)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 June 2023

1. STATUTORY INFORMATION

Frank B Forman & Sons 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
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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Land is not depreciated.

Investment property
The investment properties are shown at the most recent valuation. Any aggregate surplus or deficit arsing from changes in fair value is recognised in profit or loss.

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. Stock has been valued on a first in, first out basis.

Livestock has been valued by the director at the lower of deemed cost and net realisable value.

Taxation
Taxation for the period 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.

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 period 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.

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.

Frank B Forman & Sons Limited (Registered number: 04546496)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 (2022 - 24 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Land and to Plant and
Buildings property machinery
£    £    £   
COST
At 1 January 2023 206,480 791,589 728,992
Additions - - 6,500
At 30 June 2023 206,480 791,589 735,492
DEPRECIATION
At 1 January 2023 - 517,485 363,489
Charge for period - 25,227 27,325
At 30 June 2023 - 542,712 390,814
NET BOOK VALUE
At 30 June 2023 206,480 248,877 344,678
At 31 December 2022 206,480 274,104 365,503

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 5,650 1,340,255 32,521 3,105,487
Additions - 30,000 316 36,816
At 30 June 2023 5,650 1,370,255 32,837 3,142,303
DEPRECIATION
At 1 January 2023 3,942 859,275 28,544 1,772,735
Charge for period 127 60,246 2,103 115,028
At 30 June 2023 4,069 919,521 30,647 1,887,763
NET BOOK VALUE
At 30 June 2023 1,581 450,734 2,190 1,254,540
At 31 December 2022 1,708 480,980 3,977 1,332,752

The net book value of tangible fixed assets includes £172,664 (December 2022 - £193,021) in respect of assets held under hire purchase contracts.

Frank B Forman & Sons Limited (Registered number: 04546496)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 30 June 2023 97,459
NET BOOK VALUE
At 30 June 2023 97,459
At 31 December 2022 97,459

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,782,647 1,489,547
Amounts owed by group undertakings 74,071 111,401
Other debtors 128,145 257,757
1,984,863 1,858,705

Included within other debtors is an amount of £11,017 (2022 - £2,112l) owed by Forman Land and Property Services Limited, where G A Forman is also a director.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 279,881 157,562
Hire purchase contracts (see note 9) 63,881 75,275
Trade creditors 1,419,423 1,317,255
Taxation and social security 142,793 112,676
Other creditors 28,177 37,844
1,934,155 1,700,612

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 595,441 858,534
Hire purchase contracts (see note 9) 32,323 55,529
627,764 914,063

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 429,249 374,428

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 63,881 75,275
Between one and five years 32,323 55,529
96,204 130,804

Frank B Forman & Sons Limited (Registered number: 04546496)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 June 2023

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year - 1,102
Between one and five years - 551
- 1,653

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 875,322 1,016,096

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1p 1 1