Forge UK Homes Ltd 14401683 false 2022-10-06 2024-03-31 2024-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true false false true 14401683 2022-10-06 2024-03-31 14401683 2024-03-31 14401683 core:RetainedEarningsAccumulatedLosses 2024-03-31 14401683 core:ShareCapital 2024-03-31 14401683 core:CurrentFinancialInstruments 2024-03-31 14401683 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14401683 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 14401683 bus:SmallEntities 2022-10-06 2024-03-31 14401683 bus:AuditExemptWithAccountantsReport 2022-10-06 2024-03-31 14401683 bus:FullAccounts 2022-10-06 2024-03-31 14401683 bus:SmallCompaniesRegimeForAccounts 2022-10-06 2024-03-31 14401683 bus:RegisteredOffice 2022-10-06 2024-03-31 14401683 bus:Director4 2022-10-06 2024-03-31 14401683 bus:PrivateLimitedCompanyLtd 2022-10-06 2024-03-31 14401683 1 2022-10-06 2024-03-31 14401683 countries:EnglandWales 2022-10-06 2024-03-31 14401683 core:CostValuation 2022-10-05 iso4217:GBP xbrli:pure

Registration number: 14401683

Forge UK Homes Ltd

Unaudited Financial Statements

for the Period from 6 October 2022 to 31 March 2024

 

Forge UK Homes Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Forge UK Homes Ltd

(Registration number: 14401683)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Investments

4

4

Current assets

 

Debtors

5

4,590,183

Cash at bank and in hand

 

301

 

4,590,484

Creditors: Amounts falling due within one year

6

(489,749)

Net current assets

 

4,100,735

Total assets less current liabilities

 

4,100,739

Creditors: Amounts falling due after more than one year

6

(4,098,410)

Net assets

 

2,329

Capital and reserves

 

Called up share capital

100

Retained earnings

2,229

Shareholders' funds

 

2,329

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

 

Forge UK Homes Ltd

(Registration number: 14401683)
Balance Sheet as at 31 March 2024

.........................................
Ms JE Ismail
Director

 

Forge UK Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 6 October 2022 to 31 March 2024

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:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
M5 4ZG
England

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.

Group accounts not prepared

The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent, qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group..

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by its parent companies. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

Forge UK Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 6 October 2022 to 31 March 2024

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Investments

2024
£

Investments in subsidiaries

4

Subsidiaries

£

Cost or valuation

At 6 October 2022

4

Carrying amount

At 31 March 2024

4

Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

 

Forge UK Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 6 October 2022 to 31 March 2024

Proportion of voting rights

Undertaking

Holding

and shares held

Subsidiary Undertaking

2024

Principal Activity

Forge UK Homes Construction Limited

Ordinary

100%

Development of building projects

Forge UK Homes SPV 1 Limited

Ordinary

100%

Development of building projects

Forge UK Homes SPV 2 Limited

Ordinary

100%

Development of building projects

Forge UK Homes SPV 3 Limited

Ordinary

100%

Development of building projects

All companies listed above hold the registered office of:
Unit 2 Block C
14 Hulme Street
Salford
Greater Manchester
England
M5 4ZG

5

Debtors

Current

2024
£

Amounts owed by group undertakings

4,097,609

Prepayments

492,524

Other debtors

50

 

4,590,183

 

Forge UK Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 6 October 2022 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Accruals and deferred income

489,749

Creditors: amounts falling due after more than one year

2024
£

Due after one year

Owed to related parties

4,098,410

Included within Owed to related parties is £4,098,410 in relation to a loan which is secured by a first legal mortgage dated 31 January 2023, 7 February 2023, 11 July 2024 and 19 August 2024 by Salboy Partnerships Limited, securing any monies due to them.

The legal mortgages created a fixed and floating charge over the company's freehold or leasehold property as well as the properties known as 'Meadowcroft Farm, Ironwell Lane, Rochford, SS4 1PR' owned by Forge UK Homes SPV 1 Limited, 'land on the South East Side of Grosvenor Road' owned by Forge UK Homes SPV 2 Limited. As well as the above, a floating charge over all the property or undertakings of the company.

7

Parent and ultimate parent undertaking

The immediate parent companies are Salboy Partnerships Limited and DHHB Limited who both own 50% of the shareholding in Forge UK Homes Limited. There is no ultimate parent company of Forge UK Homes Limited.

Salboy Partnerships Limited is a company incorporated in England and Wales, company number 13626842, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

The ultimate parent company of Salboy Partnerships Limited is Salboy Limited, incorporated in England and Wales, company number 09123542, registered office Unit 2 Block C, 14 Hulme Street, Salford, Greater Manchester, England, M5 4ZG.

DHHB Limited is a company incorporated in England and Wales, company number 14396451, registered office 17 Rose Walk, Sittingbourne, Kent, United Kingdom, ME10 4EW.