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REGISTERED NUMBER: SC257904 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Forest Direct Limited

Forest Direct Limited (Registered number: SC257904)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forest Direct Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S J Thompson
J Thompson
Mrs J Thompson
Mrs S L Kafai





SECRETARY: Mrs J Thompson





REGISTERED OFFICE: 7 Valley View
Clovenfords
Galashiels
Selkirkshire
TD1 3NG





REGISTERED NUMBER: SC257904 (Scotland)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Forest Direct Limited (Registered number: SC257904)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,991 53,660
Investments 5 1 1
31,992 53,661

CURRENT ASSETS
Stocks 79,582 87,141
Debtors 6 266,834 284,186
Cash at bank 169,838 86,316
516,254 457,643
CREDITORS
Amounts falling due within one year 7 458,992 442,486
NET CURRENT ASSETS 57,262 15,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,254

68,818

CREDITORS
Amounts falling due after more than one
year

8

(13,950

)

(23,401

)

PROVISIONS FOR LIABILITIES (10,164 ) (10,164 )
NET ASSETS 65,140 35,253

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,040 35,153
65,140 35,253

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Forest Direct Limited (Registered number: SC257904)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





J Thompson - Director


Forest Direct Limited (Registered number: SC257904)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Forest Direct Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 4 years

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Forest Direct Limited (Registered number: SC257904)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 132,672
Disposals (19,400 )
At 31 March 2024 113,272
DEPRECIATION
At 1 April 2023 79,012
Charge for year 13,349
Eliminated on disposal (11,080 )
At 31 March 2024 81,281
NET BOOK VALUE
At 31 March 2024 31,991
At 31 March 2023 53,660

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 216,517 265,856
Other debtors 50,317 18,330
266,834 284,186

Forest Direct Limited (Registered number: SC257904)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,162 11,585
Trade creditors 145,982 129,219
Taxation and social security 75,216 38,908
Other creditors 227,632 262,774
458,992 442,486

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 13,950 23,401