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Registration number: 04211327

Forest County Landscapes Limited

Unaudited Filleted Financial Statements

for the Period from 30 September 2022 to 27 September 2023

 

Forest County Landscapes Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Forest County Landscapes Limited

(Registration number: 04211327)
Balance Sheet as at 27 September 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

55,577

42,043

Cash at bank and in hand

 

234

9,657

 

55,811

51,700

Creditors: Amounts falling due within one year

6

(33,000)

(24,942)

Total assets less current liabilities

 

22,811

26,758

Creditors: Amounts falling due after more than one year

6

(25,072)

(26,667)

Net (liabilities)/assets

 

(2,261)

91

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(2,263)

89

Shareholders' (deficit)/funds

 

(2,261)

91

For the financial period ending 27 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 September 2024
 

.........................................
Mr R McCarrick
Director

 

Forest County Landscapes Limited

Notes to the Unaudited Financial Statements for the Period from 30 September 2022 to 27 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

These financial statements were authorised for issue by the director on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises turnover when:
The amount of turnover can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Forest County Landscapes Limited

Notes to the Unaudited Financial Statements for the Period from 30 September 2022 to 27 September 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Forest County Landscapes Limited

Notes to the Unaudited Financial Statements for the Period from 30 September 2022 to 27 September 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2022 - 2).

 

Forest County Landscapes Limited

Notes to the Unaudited Financial Statements for the Period from 30 September 2022 to 27 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost

At 30 September 2022

8,500

8,500

At 27 September 2023

8,500

8,500

Amortisation

At 30 September 2022

8,500

8,500

At 27 September 2023

8,500

8,500

Carrying amount

At 27 September 2023

-

-

At 29 September 2022

-

-

5

Debtors

Note

2023
£

2022
£

Other debtors

 

41,553

42,043

Corporation tax asset

14,024

-

 

55,577

42,043

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Taxation and social security

 

20,842

12,684

Accruals and deferred income

 

2,158

1,500

Other creditors

 

-

758

 

33,000

24,942

 

Forest County Landscapes Limited

Notes to the Unaudited Financial Statements for the Period from 30 September 2022 to 27 September 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

25,072

26,667

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

9

Related party transactions

Transactions with the director

2023

At 30 September 2022
£

Repayments by director
£

At 27 September 2023
£

Loans to director

42,043

(490)

41,553

 

2022

At 1 October 2021
£

Repayments by director
£

At 29 September 2022
£

Loans to director

65,265

(23,222)

42,043

 

Interest has been charged on the above loans at an average rate of 2.13% (2022 - 2%).