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REGISTERED NUMBER: 04106328 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FORTH ENGINEERING (CUMBRIA) LIMITED

FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FORTH ENGINEERING (CUMBRIA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr M Telford
Mr G Cartwright
Mr J M Lewis



REGISTERED OFFICE: Risehow Hydraulics Centre
Risehow
Maryport
Cumbria
CA15 8PA



REGISTERED NUMBER: 04106328 (England and Wales)



BANKERS: Barclays Bank plc
PO Box 115
33 English Street
Carlisle
Cumbria
CA3 8JS

FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)

ABRIDGED BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,115,386 1,011,810
1,115,386 1,011,810

CURRENT ASSETS
Stocks 147,437 144,598
Debtors 2,240,518 1,727,991
Cash in hand 1,417 1,238
2,389,372 1,873,827
CREDITORS
Amounts falling due within one year 1,180,122 1,606,185
NET CURRENT ASSETS 1,209,250 267,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,324,636

1,279,452

CREDITORS
Amounts falling due after more than one
year

334,701

360,497
NET ASSETS 1,989,935 918,955

CAPITAL AND RESERVES
Called up share capital 7 3,360 3,360
Retained earnings 1,986,575 915,595
SHAREHOLDERS' FUNDS 1,989,935 918,955

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

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

FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)

ABRIDGED BALANCE SHEET - continued
31 MAY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Mr M Telford - Director


FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Forth Engineering (Cumbria) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Grants
Grants received in connection with the purchase of tangible fixed assets are credited to reserve and released to profit and loss account in accordance with the underlying depreciation policy.

Rental income
Rents received are calculated on the accruals basis and represent net rental income excluding VAT.

FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 150,000
AMORTISATION
At 1 June 2023
and 31 May 2024 150,000
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 1,862,819
Additions 274,284
Disposals (105,746 )
At 31 May 2024 2,031,357
DEPRECIATION
At 1 June 2023 851,009
Charge for year 88,252
Eliminated on disposal (23,290 )
At 31 May 2024 915,971
NET BOOK VALUE
At 31 May 2024 1,115,386
At 31 May 2023 1,011,810

The net book value of tangible fixed assets includes £271,630 (2023: £124,087) in respect of assets held under hire purchase agreements. The amount of depreciation in respect of such assets amounted to £39,632 (2023: £15,283) for the year

FORTH ENGINEERING (CUMBRIA) LIMITED (REGISTERED NUMBER: 04106328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
as restated
£    £   
Bank overdrafts 45,556 397,999
Hire purchase 249,712 116,650
295,268 514,649

Barclays Bank plc hold a debenture over the company securing the company's indebtedness to the bank.

Aldermore Bank hold a fixed and floating charge dated 31st August 2017 covering all property and undertakings of the company. The balance of the factoring account owed to Aldermore Bank will be repaid on receipt of the trade debtors.

National Westminster Bank Plc hold a fixed and floating charge dated 24th January 2020 covering all property and undertakings of the company.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: as restated
£    £   
1,360 Ordinary £1 1,360 1,360
1,000 A ordinary £1 1,000 1,000
500 B ordinary £1 500 500
500 C ordinary £1 500 500
3,360 3,360

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
as restated
£    £   
Mr M Telford
Balance outstanding at start of year 161,640 -
Amounts advanced 130,801 161,640
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 292,441 161,640

During the financial year the director was charged £1,615 (2023: £Nil) interest on the loan which is unsecured and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr and Mrs M Telford.