IRIS Accounts Production v24.2.0.383 04300543 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false 21371 71385 12453 21371 21371 71385 12453 21371 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043005432023-01-31043005432024-01-31043005432023-02-012024-01-31043005432022-01-31043005432022-02-012023-01-31043005432023-01-3104300543ns15:EnglandWales2023-02-012024-01-3104300543ns14:PoundSterling2023-02-012024-01-3104300543ns10:Director12023-02-012024-01-3104300543ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3104300543ns10:SmallEntities2023-02-012024-01-3104300543ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3104300543ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3104300543ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104300543ns10:FullAccounts2023-02-012024-01-310430054341ns10:Director12023-01-310430054341ns10:Director12022-01-310430054341ns10:Director12023-02-012024-01-310430054341ns10:Director12022-02-012023-01-310430054341ns10:Director12024-01-310430054341ns10:Director12023-01-3104300543ns10:Director22023-02-012024-01-3104300543ns10:CompanySecretary12023-02-012024-01-3104300543ns10:RegisteredOffice2023-02-012024-01-3104300543ns5:CurrentFinancialInstruments2024-01-3104300543ns5:CurrentFinancialInstruments2023-01-3104300543ns5:ShareCapital2024-01-3104300543ns5:ShareCapital2023-01-3104300543ns5:RetainedEarningsAccumulatedLosses2024-01-3104300543ns5:RetainedEarningsAccumulatedLosses2023-01-3104300543ns5:FurnitureFittings2023-02-012024-01-3104300543ns5:PlantMachinery2023-01-3104300543ns5:PlantMachinery2023-02-012024-01-3104300543ns5:PlantMachinery2024-01-3104300543ns5:PlantMachinery2023-01-3104300543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3104300543ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104300543ns5:WithinOneYear2024-01-3104300543ns5:WithinOneYear2023-01-3104300543ns10:Director222023-01-3104300543ns10:Director222022-01-3104300543ns10:Director222023-02-012024-01-3104300543ns10:Director222022-02-012023-01-3104300543ns10:Director222024-01-3104300543ns10:Director222023-01-31
REGISTERED NUMBER: 04300543 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

FORUM CENTRESPACE LIMITED

FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORUM CENTRESPACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mrs. K M Ling
Mr. P Ling



SECRETARY: Mr. P Ling



REGISTERED OFFICE: 71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



REGISTERED NUMBER: 04300543 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: National Westminster Bank Plc
Gosforth

FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,798 2,627
Investments 5 131,560 130,556
133,358 133,183

CURRENT ASSETS
Debtors 6 254,500 271,580
Cash at bank 814,887 980,652
1,069,387 1,252,232
CREDITORS
Amounts falling due within one year 7 522,521 713,230
NET CURRENT ASSETS 546,866 539,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

680,224

672,185

PROVISIONS FOR LIABILITIES 450 472
NET ASSETS 679,774 671,713

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 679,772 671,711
SHAREHOLDERS' FUNDS 679,774 671,713

FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

BALANCE SHEET - continued
31 JANUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 2 October 2024 and were signed on its behalf by:





Mrs. K M Ling - Director


FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Forum Centrespace Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents net lettings of promotional space and the provision of marketing consultancy services, excluding Value Added Tax. Income is recognised when the services are provided.

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 - 33% on cost

Debtors
Trade and other debtors (including prepayments) are recognised at the settlement amount due or amount prepaid) net of any trade discounts.

Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments.

Creditors
Trade and other creditors (including accruals) are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount net of any trade discounts.

Financial instruments
Investments are included at fair value. All other financial assets and financial liabilities qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.


FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 10,645
Additions 2,365
Disposals (774 )
At 31 January 2024 12,236
DEPRECIATION
At 1 February 2023 8,018
Charge for year 3,194
Eliminated on disposal (774 )
At 31 January 2024 10,438
NET BOOK VALUE
At 31 January 2024 1,798
At 31 January 2023 2,627

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Prufund Cautious 131,560 130,556

Investments are stated at fair value which, in the opinion of the directors, is equivalent to open market value. During the year, an increase in value of £1,004 has been recognised in the Income Statement.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,636 223,043
Other debtors 21,864 48,537
254,500 271,580

FORUM CENTRESPACE LIMITED (REGISTERED NUMBER: 04300543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 26,317 158,177
Taxation and social security 66,931 107,840
Other creditors 429,273 447,213
522,521 713,230

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,701 5,940

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr. P Ling and Mrs. K M Ling
Balance outstanding at start of year 21,371 71,385
Amounts advanced 12,453 21,371
Amounts repaid (21,371 ) (71,385 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,453 21,371

Interest is charged at the market rate, advances are repayable on demand.