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REGISTERED NUMBER: 00977311 (England and Wales)












AUTO FORUM DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






AUTO FORUM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00977311)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AUTO FORUM DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs A Twyman
Mr P Clement



REGISTERED OFFICE: Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR



REGISTERED NUMBER: 00977311 (England and Wales)



BANKERS: National Westminster Bank plc
27 Market Place
Romsey
Hampshire
SO51 8ZH

AUTO FORUM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00977311)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 9,000 9,000

CURRENT ASSETS
Debtors 5 137,508 22,941
Cash at bank 2,214,641 2,326,035
2,352,149 2,348,976
CREDITORS
Amounts falling due within one year 6 (13,821 ) (26,942 )
NET CURRENT ASSETS 2,338,328 2,322,034
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,347,328

2,331,034

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 2,337,328 2,321,034
SHAREHOLDERS' FUNDS 2,347,328 2,331,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 5 November 2024 and were signed on its behalf by:




Mrs A Twyman - Director


AUTO FORUM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00977311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Auto Forum Developments 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the length of the lease
Fixtures and fittings - 20% Reducing balance
Equipment - 20% Reducing balance

Freehold land is held at original cost.

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.

Rental income
Rental income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, and is recognised on an accruals basis.

AUTO FORUM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00977311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and
land leasehold fittings Equipment Totals
£ £ £ £ £
COST
At 1 July 2023
and 30 June 2024 9,000 139,809 13,623 5,044 167,476
DEPRECIATION
At 1 July 2023
and 30 June 2024 - 139,809 13,623 5,044 158,476
NET BOOK VALUE
At 30 June 2024 9,000 - - - 9,000
At 30 June 2023 9,000 - - - 9,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 137,508 22,941

AUTO FORUM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00977311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors - 2,622
Other creditors 13,821 24,320
13,821 26,942

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year advances totalling £47,762 (2023: £21,586) were made to a company director. £ 22,000 (2023: £Nil) was repaid prior to the year-end. The balance outstanding at the year end was £47,348 (2023: £21,586). The advances are interest free and repayable on demand.