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REGISTERED NUMBER: 06244952 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

FOREST VIEW (I.W.) LIMITED

FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FOREST VIEW (I.W.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2023







DIRECTORS: Mr G Hollis
Mrs M Hollis





SECRETARY: Mrs M Hollis





REGISTERED OFFICE: 1 Verwood Cottages
Forest Road
Newport
Isle of Wight
PO30 5NA





REGISTERED NUMBER: 06244952 (England and Wales)





ACCOUNTANTS: Bright Brown Limited
Chartered Accountants
Exchange House
St. Cross Lane
Newport
Isle of Wight
PO30 5BZ

FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 98,574 108,822
98,574 108,822

CURRENT ASSETS
Stocks 196,558 304,450
Debtors 6 51,612 21,843
Cash at bank and in hand 10,848 21,244
259,018 347,537
CREDITORS
Amounts falling due within one year 7 232,182 253,241
NET CURRENT ASSETS 26,836 94,296
TOTAL ASSETS LESS CURRENT LIABILITIES 125,410 203,118

CREDITORS
Amounts falling due after more than one year 8 (30,016 ) (50,018 )

PROVISIONS FOR LIABILITIES (12,923 ) (10,623 )
NET ASSETS 82,471 142,477

FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

BALANCE SHEET - continued
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 82,469 142,475
SHAREHOLDERS' FUNDS 82,471 142,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

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 9 September 2024 and were signed on its behalf by:





Mr G Hollis - Director


FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023


1. STATUTORY INFORMATION

Forest View (I.W.) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, 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 etc - 30% on cost and 20% on cost

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

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.


FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 December 2022
and 30 December 2023 61,600
AMORTISATION
At 31 December 2022
and 30 December 2023 61,600
NET BOOK VALUE
At 30 December 2023 -
At 30 December 2022 -

FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 31 December 2022 1,994 330,163 332,157
Additions - 15,662 15,662
Disposals (1,994 ) - (1,994 )
At 30 December 2023 - 345,825 345,825
DEPRECIATION
At 31 December 2022 1,994 221,341 223,335
Charge for year - 25,910 25,910
Eliminated on disposal (1,994 ) - (1,994 )
At 30 December 2023 - 247,251 247,251
NET BOOK VALUE
At 30 December 2023 - 98,574 98,574
At 30 December 2022 - 108,822 108,822

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 51,612 21,843

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 42,383 20,007
Hire purchase contracts - 2,594
Trade creditors 100,753 200,485
Taxation and social security 32,652 21,488
Other creditors 56,394 8,667
232,182 253,241

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 30,016 50,018

FOREST VIEW (I.W.) LIMITED (REGISTERED NUMBER: 06244952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 DECEMBER 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 December 2023 and 30 December 2022:

2023 2022
£    £   
Mr G Hollis and Mrs M Hollis
Balance outstanding at start of year 8,593 20
Amounts advanced 161,264 43,853
Amounts repaid (128,972 ) (35,280 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,885 8,593