Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Alan George Walker Forbes 17/03/2000 03 December 2024 The principal activity of the Company during the financial year was that of property rental. SC204813 2024-03-31 SC204813 bus:Director1 2024-03-31 SC204813 2023-03-31 SC204813 core:CurrentFinancialInstruments 2024-03-31 SC204813 core:CurrentFinancialInstruments 2023-03-31 SC204813 core:ShareCapital 2024-03-31 SC204813 core:ShareCapital 2023-03-31 SC204813 core:RevaluationReserve 2024-03-31 SC204813 core:RevaluationReserve 2023-03-31 SC204813 core:CapitalRedemptionReserve 2024-03-31 SC204813 core:CapitalRedemptionReserve 2023-03-31 SC204813 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC204813 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC204813 core:OtherPropertyPlantEquipment 2023-03-31 SC204813 core:OtherPropertyPlantEquipment 2024-03-31 SC204813 2022-03-31 SC204813 bus:OrdinaryShareClass1 2024-03-31 SC204813 2023-04-01 2024-03-31 SC204813 bus:FilletedAccounts 2023-04-01 2024-03-31 SC204813 bus:SmallEntities 2023-04-01 2024-03-31 SC204813 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC204813 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC204813 bus:Director1 2023-04-01 2024-03-31 SC204813 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC204813 2022-04-01 2023-03-31 SC204813 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC204813 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC204813 (Scotland)

FORBES BUILDING DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

FORBES BUILDING DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

FORBES BUILDING DESIGN LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
FORBES BUILDING DESIGN LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 697 930
Investment property 4 220,000 250,000
220,697 250,930
Current assets
Debtors 5 20,439 22,882
Cash at bank and in hand 75,534 107,132
95,973 130,014
Creditors: amounts falling due within one year 6 ( 4,424) ( 2,769)
Net current assets 91,549 127,245
Total assets less current liabilities 312,246 378,175
Net assets 312,246 378,175
Capital and reserves
Called-up share capital 8 80 80
Revaluation reserve 87,155 117,155
Capital redemption reserve 20 20
Profit and loss account 224,991 260,920
Total shareholder's funds 312,246 378,175

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

Director's responsibilities:

The financial statements of Forbes Building Design Limited (registered number: SC204813) were approved and authorised for issue by the Director on 03 December 2024. They were signed on its behalf by:

Alan George Walker Forbes
Director
FORBES BUILDING DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
FORBES BUILDING DESIGN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 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

Forbes Building Design Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Union Plaza 6th Floor, 1 Union Wynd, Aberdeen, AB10 1DQ, 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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost, 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, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 1,610 1,610
At 31 March 2024 1,610 1,610
Accumulated depreciation
At 01 April 2023 680 680
Charge for the financial year 233 233
At 31 March 2024 913 913
Net book value
At 31 March 2024 697 697
At 31 March 2023 930 930

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 250,000
Fair value movement (30,000)
As at 31 March 2024 220,000

Valuation

The fair value of the investment property at 31 March 2024 have been arrived at on the basis of valuations carried out on that date by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 132,845 132,845

5. Debtors

2024 2023
£ £
Deferred tax asset 17,533 14,223
Corporation tax 2,547 2,547
Other debtors 359 6,112
20,439 22,882

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 4,424 2,769

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 14,223 29,652
Credited/(charged) to the Profit and Loss Account 3,310 ( 15,429)
At the end of financial year 17,533 14,223

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
80 Ordinary shares of £ 1.00 each 80 80