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REGISTERED NUMBER: 01013691 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Forwessun International Limited

Forwessun International Limited (Registered number: 01013691)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forwessun International Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr A Thomas
Mr A L Thomas





REGISTERED OFFICE: The Printworks Woodend Industrial Estate
Woodend Avenue
Speke
Merseyside
L24 9NB





REGISTERED NUMBER: 01013691 (England and Wales)





ACCOUNTANTS: J V Banks
Chartered Accountants
Banks House
Paradise Street
Rhyl
Denbighshire
LL18 3LW

Forwessun International Limited (Registered number: 01013691)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 706,032 898,656

CURRENT ASSETS
Stocks 549,003 280,036
Debtors 5 678,808 735,746
Investments 6 222,064 222,064
Cash at bank and in hand 275,190 151,192
1,725,065 1,389,038
CREDITORS
Amounts falling due within one year 7 946,303 596,609
NET CURRENT ASSETS 778,762 792,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,484,794

1,691,085

CREDITORS
Amounts falling due after more than one
year

8

(787,946

)

(823,156

)

PROVISIONS FOR LIABILITIES (57,753 ) -
NET ASSETS 639,095 867,929

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 638,995 867,829
639,095 867,929

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

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

Forwessun International Limited (Registered number: 01013691)

Balance Sheet - continued
31 December 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 3 September 2024 and were signed on its behalf by:





Mr A Thomas - Director


Forwessun International Limited (Registered number: 01013691)

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

1. STATUTORY INFORMATION

Forwessun International 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Forwessun International Limited (Registered number: 01013691)

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

2. ACCOUNTING POLICIES - continued

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 38 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 250,047 931,108 138,484 112,768 1,432,407
Additions 3,930 212,146 11,710 - 227,786
Disposals - (431,982 ) - - (431,982 )
At 31 December 2023 253,977 711,272 150,194 112,768 1,228,211
DEPRECIATION
At 1 January 2023 29,327 324,157 103,822 76,445 533,751
Charge for year 25,398 48,665 11,593 9,081 94,737
Eliminated on disposal - (106,309 ) - - (106,309 )
At 31 December 2023 54,725 266,513 115,415 85,526 522,179
NET BOOK VALUE
At 31 December 2023 199,252 444,759 34,779 27,242 706,032
At 31 December 2022 220,720 606,951 34,662 36,323 898,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 563,982 547,258
Amounts owed by participating interests 51,959 115,435
Other debtors 62,867 62,867
VAT - 10,186
678,808 735,746

6. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Shares in group undertakings 222,064 222,064

Forwessun International Limited (Registered number: 01013691)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 22,930 21,028
Other loans 16,794 16,794
Finance leases 14,840 31,028
Trade creditors 283,098 193,863
Amounts owed to group undertakings 156,081 -
Social security and other taxes 22,357 23,607
VAT 79,615 -
Other creditors 4,058 4,531
Directors' current accounts 293,530 299,958
Accrued expenses 53,000 5,800
946,303 596,609

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 53,355 73,333
Finance leases 103,064 -
Amounts owed to participating interests 631,527 749,823
787,946 823,156