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REGISTERED NUMBER: 11810502 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Forward Design Ltd

Forward Design Ltd (Registered number: 11810502)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forward Design Ltd

Company Information
for the year ended 29 February 2024







DIRECTORS: O A Lees
Mrs L G Shorter





REGISTERED OFFICE: Basepoint Centre
Crab Apple Way
Vale Park
Evesham
Worcestershire
WR11 1GP





REGISTERED NUMBER: 11810502 (England and Wales)





ACCOUNTANTS: Tayabali Tomlin
Chartered Accountants
Kenton House
Oxford Street
Moreton-in-Marsh
Gloucestershire
GL56 0LA

Forward Design Ltd (Registered number: 11810502)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,200 4,900
Tangible assets 5 7,680 4,798
11,880 9,698

CURRENT ASSETS
Debtors 6 426,110 312,174
Cash at bank and in hand 30,430 9,695
456,540 321,869
CREDITORS
Amounts falling due within one year 7 736,499 590,195
NET CURRENT LIABILITIES (279,959 ) (268,326 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(268,079

)

(258,628

)

CREDITORS
Amounts falling due after more than one
year

8

26,938

37,005
NET LIABILITIES (295,017 ) (295,633 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (295,019 ) (295,635 )
(295,017 ) (295,633 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Forward Design Ltd (Registered number: 11810502)

Balance Sheet - continued
29 February 2024


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 20 August 2024 and were signed on its behalf by:





O A Lees - Director


Forward Design Ltd (Registered number: 11810502)

Notes to the Financial Statements
for the year ended 29 February 2024


1. STATUTORY INFORMATION

Forward Design Ltd 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.

The directors consider that in preparing the financial statements they have taken into account all information available, and on this basis the financial statements are prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.


Forward Design Ltd (Registered number: 11810502)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 7,000
AMORTISATION
At 1 March 2023 2,100
Charge for year 700
At 29 February 2024 2,800
NET BOOK VALUE
At 29 February 2024 4,200
At 28 February 2023 4,900

Forward Design Ltd (Registered number: 11810502)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2023 2,345 332 7,568 10,245
Additions - - 5,442 5,442
At 29 February 2024 2,345 332 13,010 15,687
DEPRECIATION
At 1 March 2023 1,438 167 3,842 5,447
Charge for year 227 41 2,292 2,560
At 29 February 2024 1,665 208 6,134 8,007
NET BOOK VALUE
At 29 February 2024 680 124 6,876 7,680
At 28 February 2023 907 165 3,726 4,798

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 176,625 85,451
Other debtors 249,485 226,723
426,110 312,174

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,067 9,876
Trade creditors 30,309 26,723
Taxation and social security 71,202 45,979
Other creditors 624,921 507,617
736,499 590,195

Forward Design Ltd (Registered number: 11810502)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 26,938 37,005

9. RELATED PARTY DISCLOSURES

Included within creditors are directors' current accounts in the sum of £43,426 (2023: £46,911). The accounts are unsecured, interest free and carry no fixed date of repayment.

Included within debtors is an amount due from Forging Ahead (1989) Limited, a company in which the Directors have an interest, in the sum of £13,512 (2023: £13,512). The account is unsecured, interest free and carries no fixed date of repayment.