Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Mr Ray Johnson 17/06/1992 Mrs Karen Johnson 17/06/1992 31 August 2024 The principal activity of the company during the financial year was the letting and management of investment property. 02723613 2024-08-31 02723613 bus:Director1 2024-08-31 02723613 bus:Director2 2024-08-31 02723613 2023-08-31 02723613 core:CurrentFinancialInstruments 2024-08-31 02723613 core:CurrentFinancialInstruments 2023-08-31 02723613 core:ShareCapital 2024-08-31 02723613 core:ShareCapital 2023-08-31 02723613 core:RevaluationReserve 2024-08-31 02723613 core:RevaluationReserve 2023-08-31 02723613 core:CapitalRedemptionReserve 2024-08-31 02723613 core:CapitalRedemptionReserve 2023-08-31 02723613 core:RetainedEarningsAccumulatedLosses 2024-08-31 02723613 core:RetainedEarningsAccumulatedLosses 2023-08-31 02723613 core:LandBuildings 2023-08-31 02723613 core:PlantMachinery 2023-08-31 02723613 core:Vehicles 2023-08-31 02723613 core:FurnitureFittings 2023-08-31 02723613 core:OfficeEquipment 2023-08-31 02723613 core:LandBuildings 2024-08-31 02723613 core:PlantMachinery 2024-08-31 02723613 core:Vehicles 2024-08-31 02723613 core:FurnitureFittings 2024-08-31 02723613 core:OfficeEquipment 2024-08-31 02723613 2023-09-01 2024-08-31 02723613 bus:FilletedAccounts 2023-09-01 2024-08-31 02723613 bus:SmallEntities 2023-09-01 2024-08-31 02723613 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 02723613 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02723613 bus:Director1 2023-09-01 2024-08-31 02723613 bus:Director2 2023-09-01 2024-08-31 02723613 core:PlantMachinery 2023-09-01 2024-08-31 02723613 core:Vehicles 2023-09-01 2024-08-31 02723613 core:FurnitureFittings 2023-09-01 2024-08-31 02723613 core:OfficeEquipment 2023-09-01 2024-08-31 02723613 2022-09-01 2023-08-31 02723613 core:LandBuildings 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Company No: 02723613 (England and Wales)

FORRESTER DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

FORRESTER DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

FORRESTER DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 August 2024
FORRESTER DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 241,449 241,624
241,449 241,624
Current assets
Cash at bank and in hand 446,008 435,819
446,008 435,819
Prepayments and accrued income 491 435
Creditors: amounts falling due within one year 4 ( 4,969) ( 3,266)
Net current assets 441,530 432,988
Total assets less current liabilities 682,979 674,612
Provision for liabilities ( 12,406) ( 12,406)
Net assets 670,573 662,206
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 130,964 130,964
Capital redemption reserve 100 100
Profit and loss account 539,409 531,042
Total shareholders' funds 670,573 662,206

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Forrester Developments Limited (registered number: 02723613) were approved and authorised for issue by the Board of Directors on 31 August 2024. They were signed on its behalf by:

Mr Ray Johnson
Director
FORRESTER DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
FORRESTER DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Forrester Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Roseweek Barn, Roseweek, St Austell, PL26 7AN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 50 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 September 2023 240,000 4,773 15,287 10,124 3,440 273,624
Additions 0 0 0 0 235 235
At 31 August 2024 240,000 4,773 15,287 10,124 3,675 273,859
Accumulated depreciation
At 01 September 2023 0 4,611 14,145 9,902 3,342 32,000
Charge for the financial year 0 32 228 33 117 410
At 31 August 2024 0 4,643 14,373 9,935 3,459 32,410
Net book value
At 31 August 2024 240,000 130 914 189 216 241,449
At 31 August 2023 240,000 162 1,142 222 98 241,624

Investment properties

The Investment property was revalued to fair value at 31 August 2023, based on a valuation undertaken by an independent valuer with recent experience in the location and class of the investment property being valued. The valuation of £240,000 is considered to be the arm's length value based on current market conditions. There is not considered to be any material change in this valuation as at 31 August 2024.

4. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,926 1,372
Other creditors 2,043 1,894
4,969 3,266