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REGISTERED NUMBER: 13156857 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

FORWARD ASSOCIATES GROUP LTD

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORWARD ASSOCIATES GROUP LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: R Westwood
C J Bray
R M Still





REGISTERED OFFICE: Ferrari House
258 Field End Road
Ruislip
Middlesex
HA4 9UU





REGISTERED NUMBER: 13156857 (England and Wales)





ACCOUNTANTS: Diverset Limited
Chartered Accountants
Ferrari House
258 Field End Road
Ruislip
Middlesex
HA4 9UU

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Balance Sheet
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,451 6,297
Investments 5 200 -
6,651 6,297

CURRENT ASSETS
Debtors 6 220,268 486,054
Cash at bank 936,431 1,133,936
1,156,699 1,619,990
CREDITORS
Amounts falling due within one year 7 334,726 319,821
NET CURRENT ASSETS 821,973 1,300,169
TOTAL ASSETS LESS CURRENT LIABILITIES 828,624 1,306,466

PROVISIONS FOR LIABILITIES 1,613 1,574
NET ASSETS 827,011 1,304,892

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 826,911 1,304,792
SHAREHOLDERS' FUNDS 827,011 1,304,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Balance Sheet - continued
31 JANUARY 2024


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 28 March 2024 and were signed on its behalf by:





R Westwood - Director


FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Forward Associates Group Ltd 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.

Preparation of consolidated financial statements
The financial statements contain information about Forward Associates Group Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year 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 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.

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 10,107
Additions 2,305
At 31 January 2024 12,412
DEPRECIATION
At 1 February 2023 3,810
Charge for year 2,151
At 31 January 2024 5,961
NET BOOK VALUE
At 31 January 2024 6,451
At 31 January 2023 6,297

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 200
At 31 January 2024 200
NET BOOK VALUE
At 31 January 2024 200

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Forward Associates Ltd
Registered office: Ferrari House, 258 Field End Road, Ruislip, Middx, HA4 9UU
Nature of business: Strategic design and systems consultancy
%
Class of shares: holding
Ordinary A 100.00
Ordinary B 100.00
2024 2023
£    £   
Aggregate capital and reserves 4,603 631
Profit/(loss) for the year 3,972 (2,232 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 211,694 484,109
Other debtors 8,574 1,945
220,268 486,054

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 15,065 4,533
Taxation and social security 249,461 289,419
Other creditors 70,200 25,869
334,726 319,821

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 A Ordinary Shares £1 51 100
49 B Ordinary shares £1 49 -
100 100

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £809,437 (2023 - £22,000) were paid to the directors .

FORWARD ASSOCIATES GROUP LTD (REGISTERED NUMBER: 13156857)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


9. RELATED PARTY DISCLOSURES - continued

During the year, 49% of the issued share capital was acquired by SMG Europe Holdings Ltd t/a ASM Global.

During the year, the company made sales to ASM Global and its group and related companies totalling £712981. At the year end the company was owed £62704 by these parties.

At the year end the company was owed £nil (2023 : £553) by its wholly owned subsidiary company Forward Associates Ltd.and owed £200 (2023 : was owed £1392) by Roy Westwood Holdings Ltd, a company under common control.

10. ULTIMATE CONTROLLING PARTY

The controlling party is R Westwood.

The ultimate controlling party is R Westwood.