REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
FOR |
THE FORGE (HALSTEAD) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
FOR |
THE FORGE (HALSTEAD) LIMITED |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE FORGE (HALSTEAD) LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
The Maltings |
Rosemary Lane |
Halstead |
Essex |
CO9 1HZ |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
BALANCE SHEET |
4 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
BALANCE SHEET - continued |
4 AUGUST 2023 |
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 |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
1. | STATUTORY INFORMATION |
The Forge (Halstead) Limited is a |
The financial statements are presented in £ sterling which is the functional currency of the company. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. |
When the outcome of a transaction can be estimated reliably, turnover from the rendering services is recognised by reference to the stage of completion at the balance sheet date. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised over its estimated useful life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made foe damaged, obsolete and slow-moving stock where appropriate. |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax represents the amounts of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 4 August 2023 |
AMORTISATION |
At 1 January 2023 |
and 4 August 2023 |
NET BOOK VALUE |
At 4 August 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Short | to | Plant and | and |
leasehold | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2023 |
and 4 August 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 4 August 2023 |
NET BOOK VALUE |
At 4 August 2023 |
At 31 December 2022 |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 January 2023 |
and 4 August 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
At 4 August 2023 |
NET BOOK VALUE |
At 4 August 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 337,705 | 100,869 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 54,250 | 34,329 |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
THE FORGE (HALSTEAD) LIMITED (REGISTERED NUMBER: 07452532) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 4 AUGUST 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary 'A' | £1 | 1 | 1 |
Ordinary 'B' | £1 | 1 | 1 |
2 | 2 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 4 August 2023 and the year ended 31 December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
12. | NON ADJUSTING EVENTS AFTER THE FINANCIAL PERIOD |
On 4 August 2023 100% of the share capital was acquired by VetPartners Limited whose ultimate controlling parent undertaking was BC European X, a collection of Limited partnerships with no single controlling party. |