Forschell Properties Limited Filleted Accounts Cover
Forschell Properties Limited
Company No. 01076561
Information for Filing with The Registrar
31 December 2023
Forschell Properties Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 December 2023.
Principal activities
The principal activity of the company during the year under review was property management.
Directors
The Directors who served at any time during the year were as follows:
R. Chudasama
M. Farrier
(Resigned 28 July 2023)
R. Hopkins
S. Kelly
S. Kolli
H. McClennon
(Resigned 15 March 2023)
V. Molloy
C. Price
G. Thompson
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
R. Chudasama
Director
31 December 2023
Forschell Properties Limited Balance Sheet Registrar
at
31 December 2023
Company No.
01076561
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
27,47127,471
27,47127,471
Current assets
Debtors
5
158,128156,680
Cash at bank and in hand
53,38756,237
211,515212,917
Creditors: Amount falling due within one year
6
(720)
(954)
Net current assets
210,795211,963
Total assets less current liabilities
238,266239,434
Net assets
238,266239,434
Capital and reserves
Called up share capital
10,50010,500
Capital redemption reserve
8
472472
Profit and loss account
8
227,294228,462
Total equity
238,266239,434
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 December 2023 and signed on its behalf by:
R. Chudasama
Director
31 December 2023
Forschell Properties Limited Notes to the Accounts Registrar
for the year ended 31 December 2023
1
General information
Forschell Properties Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 01076561
Its registered office is:
Devonshire House
29/31 Elmfield Road
Bromley
RT1 1LT
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Land and buildings
Total
£
£
Cost or revaluation
At 1 January 2023
27,47127,471
At 31 December 2023
27,47127,471
Depreciation
Net book values
At 31 December 2023
27,47127,471
At 31 December 2022
27,471
27,471
5
Debtors
2023
2022
£
£
Amounts owed by group undertakings
158,038156,590
Prepayments and accrued income
9090
158,128156,680
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
-
594
Accruals and deferred income
720360
720954
7
Share Capital
Ordinary shares £10,500 called up an fully paid.
8
Reserves
Capital redemption reserve
Total other reserves
£
£
At 1 January 2022
472
472
At 31 December 2022 and 1 January 2023
472
472
At 31 December 2023
472472
Capital redemption reserve - records the nominal value of shares repurchased by the company.
Profit and loss account - includes all current and prior period retained profits and losses.
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