The company delivers property management services to a portfolio of investment properties within the group headed by Forward Construction and Developments Limited and other entities controlled by the directors or related to the directors.
During the year property management charges were made to the following entities ultimately controlled by the directors:
The Forward Property Group Limited, £13,750 (2022: £85,000)
Tilesite Limited, £5,000 (2022: £12,000).
Lancebury Estates Limited, £5,000 (2022: £24,000)
Forward Construction and Developments Limited, £15,000 (2022: £45,000)
St Baldreds Estates Limited, £5,000 (2022: £17,500)
Forward Point Limited, £10,000 (2022: £10,000)
Crest Commercial Property Limited, £5,000 (2022: £15,000).
At 31 December 2023, the following balances were owed by related undertakings (note 5):
The Forward Property Group Limited, £1,471,768 (2022: £1,449,864)
Planetree Homes Limited, £Nil (2022: £1,980)
St Baldreds Estates Limited, £10,936 (2022: £Nil)
Lancebury Estates Limited £20,332 (2022: £Nil).
At 31 December 2023, the following balances were owed to related undertakings (note 6);
Forward Construction and Developments Limited £74,652 (2022: £34,300)
Tilesite Limited, £461,013 (2022: £666,549)
Forward Construction and Developments Limited Self Administered Pension Scheme, £640,421 (2022: £515,187)
St Baldreds Estates Limited, £Nil (2022: £45,118)
Lancebury Estates Limited, £Nil (2022: £28,425)
Crest Commercial Property Limited, £3,670 (2022: £83,677)
Planetree Homes Limited, £18,859 (2022: £Nil)
Forward Point Limited, £104,283 (2022: £100,839).
Other creditors (note 6) includes loans from the directors, £163,892 (2022: £141,716).
During the year dividends of £3,000 (2022: £6,000) were paid to shareholders.
All related party loans and balances have no fixed terms and no interest is charged.