IRIS Accounts Production v24.3.2.46 02843423 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh028434232023-04-30028434232024-04-30028434232023-05-012024-04-30028434232022-04-30028434232022-05-012023-04-30028434232023-04-3002843423ns15:EnglandWales2023-05-012024-04-3002843423ns14:PoundSterling2023-05-012024-04-3002843423ns10:Director12023-05-012024-04-3002843423ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3002843423ns10:SmallEntities2023-05-012024-04-3002843423ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3002843423ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3002843423ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3002843423ns10:FullAccounts2023-05-012024-04-300284342312023-05-012024-04-3002843423ns10:Director22023-05-012024-04-3002843423ns10:CompanySecretary12023-05-012024-04-3002843423ns10:RegisteredOffice2023-05-012024-04-3002843423ns5:CurrentFinancialInstruments2024-04-3002843423ns5:CurrentFinancialInstruments2023-04-3002843423ns5:ShareCapital2024-04-3002843423ns5:ShareCapital2023-04-3002843423ns5:RevaluationReserve2024-04-3002843423ns5:RevaluationReserve2023-04-3002843423ns5:RetainedEarningsAccumulatedLosses2024-04-3002843423ns5:RetainedEarningsAccumulatedLosses2023-04-3002843423ns5:NetGoodwill2023-05-012024-04-3002843423ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3002843423ns5:PlantMachinery2023-05-012024-04-3002843423ns5:NetGoodwill2023-04-3002843423ns5:NetGoodwill2024-04-3002843423ns5:NetGoodwill2023-04-3002843423ns5:LandBuildings2023-04-3002843423ns5:PlantMachinery2023-04-3002843423ns5:LandBuildings2023-05-012024-04-3002843423ns5:LandBuildings2024-04-3002843423ns5:PlantMachinery2024-04-3002843423ns5:LandBuildings2023-04-3002843423ns5:PlantMachinery2023-04-3002843423ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3002843423ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3002843423ns5:RevaluationReserve2023-04-30
REGISTERED NUMBER: 02843423 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Fourward Developments (UK) Limited

Fourward Developments (UK) Limited (Registered number: 02843423)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fourward Developments (UK) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A R Neal
Mrs L A Ibbetson





SECRETARY:





REGISTERED OFFICE: 37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH





REGISTERED NUMBER: 02843423 (England and Wales)





ACCOUNTANTS: Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH

Fourward Developments (UK) Limited (Registered number: 02843423)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 375,075 378,904
375,075 378,904

CURRENT ASSETS
Stocks 6 40,532 62,096
Debtors 7 50 50
Cash at bank 54,863 46,096
95,445 108,242
CREDITORS
Amounts falling due within one year 8 249,108 273,880
NET CURRENT LIABILITIES (153,663 ) (165,638 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,412

213,266

CAPITAL AND RESERVES
Called up share capital 25,232 25,232
Revaluation reserve 10 54,348 54,348
Retained earnings 141,832 133,686
SHAREHOLDERS' FUNDS 221,412 213,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Fourward Developments (UK) Limited (Registered number: 02843423)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Mr A R Neal - Director


Fourward Developments (UK) Limited (Registered number: 02843423)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Fourward Developments (UK) 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.

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.

The accounts have been prepared on a going concern basis. The Directors are owed substantial funds by the company and have agreed to defer repayment of these sums until May 2019. On this basis the company remains solvent and the trade and liquidity position is improving.

Turnover
Turnover represents net invoiced fees, excluding value added tax, adjusted for work in progress.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Work in Progress is valued at net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Fourward Developments (UK) Limited (Registered number: 02843423)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 275,000
AMORTISATION
At 1 May 2023
and 30 April 2024 275,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 350,000 167,331 517,331
Additions - 930 930
At 30 April 2024 350,000 168,261 518,261
DEPRECIATION
At 1 May 2023 - 138,427 138,427
Charge for year - 4,759 4,759
At 30 April 2024 - 143,186 143,186
NET BOOK VALUE
At 30 April 2024 350,000 25,075 375,075
At 30 April 2023 350,000 28,904 378,904

6. STOCKS
30.4.24 30.4.23
£    £   
Work-in-progress 40,532 62,096

Fourward Developments (UK) Limited (Registered number: 02843423)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 50 50

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 21,599 31,570
Trade creditors 7,992 30,433
Taxation and social security 57,781 38,590
Other creditors 161,736 173,287
249,108 273,880

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 54,348