IRIS Accounts Production v24.2.0.383 SC194659 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1946592023-03-31SC1946592024-03-31SC1946592023-04-012024-03-31SC1946592022-03-31SC1946592022-04-012023-03-31SC1946592023-03-31SC194659ns15:Scotland2023-04-012024-03-31SC194659ns14:PoundSterling2023-04-012024-03-31SC194659ns10:Director12023-04-012024-03-31SC194659ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC194659ns10:SmallEntities2023-04-012024-03-31SC194659ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC194659ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC194659ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC194659ns10:FullAccounts2023-04-012024-03-31SC194659ns10:Director22023-04-012024-03-31SC194659ns10:Director32023-04-012024-03-31SC194659ns10:CompanySecretary12023-04-012024-03-31SC194659ns10:RegisteredOffice2023-04-012024-03-31SC194659ns5:CurrentFinancialInstruments2024-03-31SC194659ns5:CurrentFinancialInstruments2023-03-31SC194659ns5:ShareCapital2024-03-31SC194659ns5:ShareCapital2023-03-31SC194659ns5:RetainedEarningsAccumulatedLosses2024-03-31SC194659ns5:RetainedEarningsAccumulatedLosses2023-03-31SC194659ns5:LandBuildings2023-04-012024-03-31SC194659ns5:LandBuildings2023-03-31SC194659ns5:LandBuildings2024-03-31SC194659ns5:LandBuildings2023-03-31SC194659ns5:Secured2024-03-31SC194659ns5:Secured2023-03-31
REGISTERED NUMBER: SC194659 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Forbes Properties Limited

Forbes Properties Limited (Registered number: SC194659)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Forbes Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ms J Forbes
G Forbes





SECRETARY: Ms J Forbes





REGISTERED OFFICE: 22 Dunlin
Westerlands Park
Glasgow
G12 0FE





REGISTERED NUMBER: SC194659 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Forbes Properties Limited (Registered number: SC194659)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 463,361 463,361

CURRENT ASSETS
Cash at bank 629 5,479

CREDITORS
Amounts falling due within one year 5 50,009 63,352
NET CURRENT LIABILITIES (49,380 ) (57,873 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

413,981

405,488

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 412,981 404,488
413,981 405,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 12 September 2024 and were signed on its behalf by:





G Forbes - Director


Forbes Properties Limited (Registered number: SC194659)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Forbes Properties Limited is a private company, limited by shares , registered in Scotland. 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 represents the amount of rental income received and receivable in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided as investment property

Investment Property is held at fair value based on the opinion of the Directors.

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.

3. EMPLOYEES AND DIRECTORS

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

Forbes Properties Limited (Registered number: SC194659)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 463,361
NET BOOK VALUE
At 31 March 2024 463,361
At 31 March 2023 463,361

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 18,698
Taxation and social security 15,696 14,281
Other creditors 34,313 30,373
50,009 63,352

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans - 18,698

On the 22nd September 2013 the company granted a Floating Charge in favour of Barclays Bank PLC covering all the company's property and undertakings.

On the 13th March 2014 the company granted a Standard Security in favour of Barclays Bank PLC over its property at 48 Clyde Street Glasgow G81.

7. RELATED PARTY DISCLOSURES

The directors have provided a loan to the company which has no fixed repayment date. The amount due to the directors at the 31st March 2024 is £32,873 (2023: £30,373).

8. ULTIMATE CONTROLLING PARTY

The Directors and their family own the entire issued share capital of the company which makes them the ultimate controlling parties.