IRIS Accounts Production v24.2.0.383 06365674 Board of Directors 1.1.23 31.12.23 31.12.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063656742022-12-31063656742023-12-31063656742023-01-012023-12-31063656742021-12-31063656742022-01-012022-12-31063656742022-12-3106365674ns15:EnglandWales2023-01-012023-12-3106365674ns14:PoundSterling2023-01-012023-12-3106365674ns10:Director12023-01-012023-12-3106365674ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106365674ns10:SmallEntities2023-01-012023-12-3106365674ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106365674ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106365674ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106365674ns10:FullAccounts2023-01-012023-12-3106365674ns10:Director22023-01-012023-12-3106365674ns10:CompanySecretary12023-01-012023-12-3106365674ns10:RegisteredOffice2023-01-012023-12-3106365674ns5:CurrentFinancialInstruments2023-12-3106365674ns5:CurrentFinancialInstruments2022-12-3106365674ns5:ShareCapital2023-12-3106365674ns5:ShareCapital2022-12-3106365674ns5:FurtherSpecificReserve3ComponentTotalEquity2023-12-3106365674ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3106365674ns5:RetainedEarningsAccumulatedLosses2023-12-3106365674ns5:RetainedEarningsAccumulatedLosses2022-12-3106365674ns5:FurnitureFittings2023-01-012023-12-3106365674ns5:FurnitureFittings2022-12-3106365674ns5:FurnitureFittings2023-12-3106365674ns5:FurnitureFittings2022-12-3106365674ns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-31
REGISTERED NUMBER: 06365674 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FORESTROSE LIMITED

FORESTROSE LIMITED (REGISTERED NUMBER: 06365674)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FORESTROSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: R G MacDowall
A J MacDowall





SECRETARY: R G MacDowall





REGISTERED OFFICE: The Old Clydesdale Stud
Tarraby
Carlisle
Cumbria
CA3 0JS





REGISTERED NUMBER: 06365674 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

FORESTROSE LIMITED (REGISTERED NUMBER: 06365674)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 2,900,000 2,900,000
2,900,000 2,900,000

CURRENT ASSETS
Debtors 6 290 266
Cash at bank 9,112 2,309
9,402 2,575
CREDITORS
Amounts falling due within one year 7 1,948,810 1,942,223
NET CURRENT LIABILITIES (1,939,408 ) (1,939,648 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

960,592

960,352

PROVISIONS FOR LIABILITIES 295,401 295,401
NET ASSETS 665,191 664,951

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 886,204 886,204
Retained earnings (221,014 ) (221,254 )
SHAREHOLDERS' FUNDS 665,191 664,951

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 26 September 2024 and were signed on its behalf by:





R G MacDowall - Director


FORESTROSE LIMITED (REGISTERED NUMBER: 06365674)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Forestrose Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06365674 and its registered office is at The Old Clydesdale Stud, Tarraby, Carlisle, Cumbria, CA3 0JS.

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 as modified by the revaluation of certain assets.

At the balance sheet date, the company had net current liabilities of £1,939,454 (2022: £1,939,648). The directors have prepared forecast cashflow information and profit projections for a period of 12 months following the approval of the financial statements. Based on this information, the nature of the business and the continued support of the shareholders, the directors deem it appropriate to prepare the accounts on a going concern basis.

Turnover
Turnover represents rents received, recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investment property
Investment properties are included in the balance sheet at their open market fair value. No depreciation is provided on investment properties. Any surplus or deficit arising from changes in fair value is charged to profit and loss. Subsequently the fair value adjustment, net of applicable deferred taxation, is transferred to a fair value reserve.

Although this accounting policy is in accordance with the Financial Reporting Standard 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

FORESTROSE LIMITED (REGISTERED NUMBER: 06365674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 118,116
DEPRECIATION
At 1 January 2023
and 31 December 2023 118,116
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 2,900,000
NET BOOK VALUE
At 31 December 2023 2,900,000
At 31 December 2022 2,900,000

The fair value of the investment property was determined by the directors at the balance sheet date.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2014 (100,000 )
Valuation in 2016 1,281,605
Cost 1,718,395
2,900,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Prepayments and accrued income 290 266

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans 1,800,048 1,800,048
Trade creditors 1,293 -
Directors' loan accounts 145,398 139,722
Accruals and deferred income 2,071 2,453
1,948,810 1,942,223

FORESTROSE LIMITED (REGISTERED NUMBER: 06365674)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 886,204

The revaluation reserve is shown net of the provision for deferred tax of £295,401 (2022: £295,401), recognised in respect of the revaluation.