Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 05726075 Mr T M Forbes Mr S J Forbes true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05726075 2023-04-30 05726075 2024-04-30 05726075 2023-05-01 2024-04-30 05726075 frs-core:CurrentFinancialInstruments 2024-04-30 05726075 frs-core:FurnitureFittings 2024-04-30 05726075 frs-core:FurnitureFittings 2023-05-01 2024-04-30 05726075 frs-core:FurnitureFittings 2023-04-30 05726075 frs-core:MotorVehicles 2024-04-30 05726075 frs-core:MotorVehicles 2023-05-01 2024-04-30 05726075 frs-core:MotorVehicles 2023-04-30 05726075 frs-core:PlantMachinery 2024-04-30 05726075 frs-core:PlantMachinery 2023-05-01 2024-04-30 05726075 frs-core:PlantMachinery 2023-04-30 05726075 frs-core:SharePremium 2024-04-30 05726075 frs-core:ShareCapital 2024-04-30 05726075 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 05726075 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05726075 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 05726075 frs-bus:SmallEntities 2023-05-01 2024-04-30 05726075 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 05726075 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05726075 1 2023-05-01 2024-04-30 05726075 frs-bus:Director1 2023-05-01 2024-04-30 05726075 frs-bus:Director2 2023-05-01 2024-04-30 05726075 frs-countries:EnglandWales 2023-05-01 2024-04-30 05726075 2022-04-30 05726075 2023-04-30 05726075 2022-05-01 2023-04-30 05726075 frs-core:CurrentFinancialInstruments 2023-04-30 05726075 frs-core:SharePremium 2023-04-30 05726075 frs-core:ShareCapital 2023-04-30 05726075 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 05726075
Forbes West Limited
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05726075
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,246 22,683
28,246 22,683
CURRENT ASSETS
Stocks 5 24,380 61,890
Debtors 6 347,173 172,795
Cash at bank and in hand 333,372 814,873
704,925 1,049,558
Creditors: Amounts Falling Due Within One Year 7 (679,983 ) (1,012,489 )
NET CURRENT ASSETS (LIABILITIES) 24,942 37,069
TOTAL ASSETS LESS CURRENT LIABILITIES 53,188 59,752
NET ASSETS 53,188 59,752
CAPITAL AND RESERVES
Called up share capital 8 50,134 50,134
Share premium account 11 11
Profit and Loss Account 3,043 9,607
SHAREHOLDERS' FUNDS 53,188 59,752
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For the year ending 30 April 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 T M Forbes
Director
23 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Forbes West Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05726075 . The registered office is 128 Tutbury Road, Burton Upon Trent, DE13 0NU.
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 15% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings at variable rates on reducing balance
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.8. Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 15)
12 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 May 2023 25,732 54,498 21,928 102,158
Additions - 11,640 1,017 12,657
Disposals - (3,900 ) - (3,900 )
As at 30 April 2024 25,732 62,238 22,945 110,915
Depreciation
As at 1 May 2023 23,455 34,905 21,115 79,475
Provided during the period 340 6,210 252 6,802
Disposals - (3,608 ) - (3,608 )
As at 30 April 2024 23,795 37,507 21,367 82,669
Net Book Value
As at 30 April 2024 1,937 24,731 1,578 28,246
As at 1 May 2023 2,277 19,593 813 22,683
5. Stocks
2024 2023
£ £
Materials 7,209 6,691
Work in progress 161,136 355,853
Excess payments on account (143,965 ) (300,654 )
24,380 61,890
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 322,051 149,346
Other debtors 25,122 23,449
347,173 172,795
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 90,215 108,480
Corporation tax 18,023 53,032
Other taxes and social security 37,149 35,024
Other creditors 270,684 273,490
Amounts owed to group undertakings 263,912 542,463
679,983 1,012,489
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50,134 50,134
9. Related Party Transactions
During the year the company traded with Forbes West Management Limited, the company's ultimate parent company. Transactions were carried out under normal trading conditions and terms. The transactions amounted to £187,145 (2023 - £195,689). Amounts owed to Forbes West Management Limited at the year end are £263,912 (2023 - £542,463). Trade creditors at the year end include £41,159 (2023 - £38,534) due to Forbes West Management Limited.
10. Ultimate Controlling Party
The company's ultimate parent company is Forbes West Management Limited, a company registered in England.
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