Company Registration No. 12752265 (England and Wales)
Forget That Limited
Unaudited financial statements
For the year ended 31 July 2023
Pages for filing with registrar
FORGET THAT LIMITED
Forget That Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FORGET THAT LIMITED
Forget That Limited
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,670
7,284
Current assets
Debtors
4
50,881
81,122
Cash at bank and in hand
189,046
110,871
239,927
191,993
Creditors: amounts falling due within one year
5
(63,572)
(75,352)
Net current assets
176,355
116,641
Net assets
187,025
123,925
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
187,024
123,924
Total equity
187,025
123,925

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 April 2024
M Pilcher
Director
Company registration number 12752265 (England and Wales)
FORGET THAT LIMITED
Forget That Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Forget That Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents fee receivable for digital content development and production services. Fee income is recognised when the contractual conditions for payment have been met.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.5
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FORGET THAT LIMITED
Forget That Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
9,119
Additions
6,871
At 31 July 2023
15,990
Depreciation
At 1 August 2022
1,835
Depreciation charged in the year
3,485
At 31 July 2023
5,320
Carrying amount
At 31 July 2023
10,670
At 31 July 2022
7,284
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
40,247
76,106
Other debtors
10,634
5,016
50,881
81,122
FORGET THAT LIMITED
Forget That Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,277
3,638
Corporation tax
31,100
21,633
Other taxation and social security
11,878
16,391
Other creditors
19,317
33,690
63,572
75,352
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
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