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Registered number: 06801296
S R Forsyth (Bristol) Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06801296
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 21,314 945
21,314 945
CURRENT ASSETS
Stocks 6 984 2,345
Debtors 7 64,409 81,559
65,393 83,904
Creditors: Amounts Falling Due Within One Year 8 (39,579 ) (33,251 )
NET CURRENT ASSETS (LIABILITIES) 25,814 50,653
TOTAL ASSETS LESS CURRENT LIABILITIES 47,128 51,598
Creditors: Amounts Falling Due After More Than One Year 9 (37,447 ) (33,562 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (19 ) (180 )
NET ASSETS 9,662 17,856
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 9,652 17,846
SHAREHOLDERS' FUNDS 9,662 17,856
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S Forsyth
Director
20 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
S R Forsyth (Bristol) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06801296 . The registered office is Unit 3 Douglas Road Ind. Park, Douglas Rd, Kingswood, Bristol, BS15 8PD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in the Pounds Sterling, rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Franchise/ License Fees. They are amortised to profit and loss account over its estimated economic life of 3 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 7)
5 7
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 8,175
As at 31 March 2024 8,175
Amortisation
As at 1 April 2023 8,175
As at 31 March 2024 8,175
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 575 5,729 - 311
Additions - 1,418 23,633 -
As at 31 March 2024 575 7,147 23,633 311
Depreciation
As at 1 April 2023 575 5,729 - 311
Provided during the period - 48 4,333 -
As at 31 March 2024 575 5,777 4,333 311
Net Book Value
As at 31 March 2024 - 1,370 19,300 -
As at 1 April 2023 - - - -
Page 4
Page 5
Computer Equipment Total
£ £
Cost
As at 1 April 2023 4,591 11,206
Additions - 25,051
As at 31 March 2024 4,591 36,257
Depreciation
As at 1 April 2023 3,646 10,261
Provided during the period 301 4,682
As at 31 March 2024 3,947 14,943
Net Book Value
As at 31 March 2024 644 21,314
As at 1 April 2023 945 945
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows: 
2024 2023
£ £
Motor Vehicles 20,490 -
6. Stocks
2024 2023
£ £
Stock 984 2,345
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,526 5,901
Other debtors 60,883 75,658
64,409 81,559
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 595
Bank loans and overdrafts 4,544 12,748
Other loans 23,393 8,052
Other creditors 611 739
Taxation and social security 11,031 11,117
39,579 33,251
Page 5
Page 6
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 37,447 33,562
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
11. Related Party Transactions
At the balance sheet date, the Company was owed £60,004 as an intercompany loan from a related company. As at 31 March 2023, the Company was owed £75,313 from the same related company. This loan is interrest free and is repayable on demand. 
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