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REGISTERED NUMBER: 04415104 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Forthbrook Limited

Forthbrook Limited (Registered number: 04415104)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Forthbrook Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs K Hayklan
J R Taylor





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 04415104 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Forthbrook Limited (Registered number: 04415104)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 323 636
Investment property 5 800,000 730,000
800,323 730,636

CURRENT ASSETS
Stocks 17,500 17,500
Debtors 6 323,300 316,564
Cash at bank and in hand 34,642 123,917
375,442 457,981
CREDITORS
Amounts falling due within one year 7 62,382 122,812
NET CURRENT ASSETS 313,060 335,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,113,383

1,065,805

CREDITORS
Amounts falling due after more than one
year

8

(852,194

)

(847,053

)

PROVISIONS FOR LIABILITIES (22,760 ) (3,998 )
NET ASSETS 238,429 214,754

CAPITAL AND RESERVES
Called up share capital 10 2 2
Other reserves 316,006 316,006
Fair value reserve 11 223,989 172,751
Retained earnings (301,568 ) (274,005 )
SHAREHOLDERS' FUNDS 238,429 214,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

Forthbrook Limited (Registered number: 04415104)

Balance Sheet - continued
31 March 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 28 March 2024 and were signed on its behalf by:





Mrs K Hayklan - Director


Forthbrook Limited (Registered number: 04415104)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Forthbrook 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "fair value reserve".

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Forthbrook Limited (Registered number: 04415104)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 949 2,110 3,059
Disposals - (2,110 ) (2,110 )
At 31 March 2023 949 - 949
DEPRECIATION
At 1 April 2022 313 2,110 2,423
Charge for year 313 - 313
Eliminated on disposal - (2,110 ) (2,110 )
At 31 March 2023 626 - 626
NET BOOK VALUE
At 31 March 2023 323 - 323
At 31 March 2022 636 - 636

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 730,000
Revaluations 70,000
At 31 March 2023 800,000
NET BOOK VALUE
At 31 March 2023 800,000
At 31 March 2022 730,000

The director considers that the valuation, determine by her, represents the fair value of the investment properties as at 31st March 2020.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2014 23,749
Valuation in 2015 53,000
Valuation in 2016 100,000
Valuation in 2023 70,000
Cost 553,251
800,000

Forthbrook Limited (Registered number: 04415104)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 211,540 220,250
Other debtors 111,760 96,314
323,300 316,564

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 3,432 3,216
Amounts owed to group undertakings 34,467 97,338
Taxation and social security 3,143 709
Other creditors 18,340 18,549
62,382 122,812

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 7,000 10,000
Other creditors 845,194 837,053
852,194 847,053

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 845,394 430,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Mortgages 407,053 407,053

Paragon Mortgages hold fixed and floating charges over the company's investment properties and assets.

Held in Stocks: Work-in-progress are fixed charges on land held for development in favour of both Paragon Mortgages and GMAC-RFC Property Finance Limited.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary 1 2 2

Forthbrook Limited (Registered number: 04415104)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022 172,751
Fair value gains / (losses) on
investment property 70,000
Investment property
Deferred tax transfer (18,762 )

At 31 March 2023 223,989

Other reserves represent profit on assets sold to subsidiary companies for consideration not readily convertible to cash. The profit will become realised if the assets are subsequently sold or redeemed for cash.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mrs K Hayklan
Balance outstanding at start of year 63,292 61,367
Amounts advanced 29,861 13,111
Amounts repaid (17,345 ) (11,186 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,808 63,292

Loan interest is charged on the above overdrawn director's loan account using HMRC's approved rates. Interest of £1,401 (2022: £1,531) is recognised within the profit and loss account.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Forthbrook Limited (Registered number: 04415104)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Forthbrook Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Forthbrook Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Forthbrook Limited and state those matters that we have agreed to state to the Board of Directors of Forthbrook Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forthbrook Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Forthbrook Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Forthbrook Limited. You consider that Forthbrook Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Forthbrook Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


28 March 2024