2022-11-012023-10-312023-10-31false13686928FORGED ON THE LEVELS 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FORGED ON THE LEVELS LTD

Registered Number
13686928
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

FORGED ON THE LEVELS LTD
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Paul Gorman

Registered Address

Walker House
Market Place
Somerton
TA11 7LX

Registered Number

13686928 (England and Wales)
FORGED ON THE LEVELS LTD
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,082325
1,082325
Current assets
Stocks4255225
Debtors-11
Cash at bank and on hand1,231100
1,486336
Creditors amounts falling due within one year5(6,925)(2,732)
Net current assets (liabilities)(5,439)(2,396)
Total assets less current liabilities(4,357)(2,071)
Net assets(4,357)(2,071)
Capital and reserves
Profit and loss account(4,357)(2,071)
Shareholders' funds(4,357)(2,071)
The financial statements were approved and authorised for issue by the Director on 4 April 2024, and are signed on its behalf by:
Paul Gorman
Director
Registered Company No. 13686928
FORGED ON THE LEVELS LTD
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 22434434
Additions1,0791,079
At 31 October 231,5131,513
Depreciation and impairment
At 01 November 22109109
Charge for year322322
At 31 October 23431431
Net book value
At 31 October 231,0821,082
At 31 October 22325325
4.Stocks

2023

2022

££
Finished goods255225
Total255225
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables758-
Amounts owed to related parties5,0932,195
Accrued liabilities and deferred income1,074537
Total6,9252,732
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.