Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 11834906 Mr Gareth Jacques Mrs Palminder Jacques Mr Harbhajan Sagoo Mrs Paramjit Sagoo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11834906 2023-02-28 11834906 2024-02-29 11834906 2023-03-01 2024-02-29 11834906 frs-core:CurrentFinancialInstruments 2024-02-29 11834906 frs-core:Non-currentFinancialInstruments 2024-02-29 11834906 frs-core:PlantMachinery 2024-02-29 11834906 frs-core:PlantMachinery 2023-03-01 2024-02-29 11834906 frs-core:PlantMachinery 2023-02-28 11834906 frs-core:ShareCapital 2024-02-29 11834906 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 11834906 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11834906 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 11834906 frs-bus:SmallEntities 2023-03-01 2024-02-29 11834906 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11834906 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11834906 frs-bus:Director1 2023-03-01 2024-02-29 11834906 frs-bus:Director2 2023-03-01 2024-02-29 11834906 frs-bus:Director3 2023-03-01 2024-02-29 11834906 frs-bus:Director4 2023-03-01 2024-02-29 11834906 frs-countries:EnglandWales 2023-03-01 2024-02-29 11834906 2022-02-28 11834906 2023-02-28 11834906 2022-03-01 2023-02-28 11834906 frs-core:CurrentFinancialInstruments 2023-02-28 11834906 frs-core:Non-currentFinancialInstruments 2023-02-28 11834906 frs-core:ShareCapital 2023-02-28 11834906 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11834906
Forward Property Ventures Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Calculated Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11834906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 231 308
Investment Properties 5 434,860 434,860
435,091 435,168
CURRENT ASSETS
Debtors 6 133 433
Cash at bank and in hand 3,052 46,333
3,185 46,766
Creditors: Amounts Falling Due Within One Year 7 (1,850 ) (1,264 )
NET CURRENT ASSETS (LIABILITIES) 1,335 45,502
TOTAL ASSETS LESS CURRENT LIABILITIES 436,426 480,670
Creditors: Amounts Falling Due After More Than One Year 8 (443,354 ) (486,685 )
NET LIABILITIES (6,928 ) (6,015 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (7,028 ) (6,115 )
SHAREHOLDERS' FUNDS (6,928) (6,015)
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr Gareth Jacques
Director
21/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Forward Property Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11834906 . The registered office is 29 Keswick Gardens , Redbridge, London, IG4 5NF.
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.
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. 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:
Plant & Machinery 25% Reducing Balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 March 2023 329
As at 29 February 2024 329
Depreciation
As at 1 March 2023 21
Provided during the period 77
As at 29 February 2024 98
Net Book Value
As at 29 February 2024 231
As at 1 March 2023 308
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Page 4
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 29 February 2024 434,860
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 250
Prepayments and accrued income 133 183
133 433
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 1,850 -
Accruals and deferred income - 1,264
1,850 1,264
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 296,300 296,300
Directors loan account 147,054 190,385
443,354 486,685
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The directors provide the company with an unsecured loan. The balance at the year end was £147,054 (2023: £190,385). There is no interest charged and this is repayable on demand.
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