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Registration number: 08159781

Forster Place (Bradford) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Forster Place (Bradford) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Forster Place (Bradford) Limited

Company Information

Director

Mr H Patel

Company secretary

Mr B McDonald

Registered office

1 Bond Street
Colne
Lancashire
BB8 9DG

Accountants

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Forster Place (Bradford) Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Forster Place (Bradford) Limited for the year ended 31 December 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Forster Place (Bradford) Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Forster Place (Bradford) Limited and state those matters that we have agreed to state to the Board of Directors of Forster Place (Bradford) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forster Place (Bradford) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Forster Place (Bradford) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Forster Place (Bradford) Limited. You consider that Forster Place (Bradford) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Forster Place (Bradford) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

8 October 2024

 

Forster Place (Bradford) Limited

(Registration number: 08159781)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,000

1,000

Current assets

 

Debtors

5

2,071,929

2,076,976

Cash at bank and in hand

 

1,200

1,679

 

2,073,129

2,078,655

Creditors: Amounts falling due within one year

6

(146,944)

(151,126)

Net current assets

 

1,926,185

1,927,529

Net assets

 

1,927,185

1,928,529

Capital and reserves

 

Called up share capital

2,500

2,500

Share premium reserve

1,998,500

1,998,500

Retained earnings

(73,815)

(72,471)

Shareholders' funds

 

1,927,185

1,928,529

For the financial year ending 31 December 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 year 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 8 October 2024
 

.........................................
Mr H Patel
Director

 

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
1 Bond Street
Colne
Lancashire
BB8 9DG

These financial statements were authorised for issue by the director on 8 October 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.

Depreciation

Asset class

Depreciation method and rate

Plant and equipment

20% Straight line

Business combinations

Business combinations are accounted for using the cost purchase method. The consideration for each acquisition is measured at the nominal value at acquisition date of assets given, liabilities incurred or assumed.

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.

 

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 merchandise sold or 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,000

1,000

 

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,000

Provision

Carrying amount

At 31 December 2023

1,000

At 31 December 2022

1,000

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Forster Place Apartments Limited

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Forster Place Apartments Limited

The principal activity of Forster Place Apartments Limited is the letting and operating of real estate.

The aggregate amount of Capital and reserves at the end of the period end was £647,909.

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

4,368

Amounts owed by group undertakings and undertakings in which the company has a participating interest

7

2,061,835

2,062,514

Other debtors

 

10,094

10,094

 

2,071,929

2,076,976

 

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,500

1,314

Other creditors

145,444

149,812

146,944

151,126

7

Related party transactions

Summary of transactions with subsidiaries

Forster Place Apartments Ltd
 
The company continued to provide loan facilities to Forster Place Apartments Ltd.

 
The loan of £2,061,835 (2022 - £2,062,514) has been classed as a debtor repayable within one year.
 

Summary of transactions with other related parties

Amsgro Limited (ceased to be a related party during the year)
 
Loan facilities were repaid to Amsgro Limited by Forster Place (Bradford) Limited during the year. The prior year balance of £149,812 was previously classed as a creditor due for payment within one year.

 

8

Parent and ultimate parent undertaking

The company's immediate parent is Sheeva Properties UK Limited, incorporated in England and Wales.