Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10806665 Ms Zoe Barnes Mr Christopher Martell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10806665 2023-05-31 10806665 2024-05-31 10806665 2023-06-01 2024-05-31 10806665 frs-core:Non-currentFinancialInstruments 2024-05-31 10806665 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10806665 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10806665 frs-core:ShareCapital 2024-05-31 10806665 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10806665 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10806665 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 10806665 frs-bus:SmallEntities 2023-06-01 2024-05-31 10806665 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10806665 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10806665 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-05-31 10806665 frs-bus:Director1 2023-06-01 2024-05-31 10806665 frs-bus:Director2 2023-06-01 2024-05-31 10806665 frs-countries:EnglandWales 2023-06-01 2024-05-31 10806665 2022-05-31 10806665 2023-05-31 10806665 2022-06-01 2023-05-31 10806665 frs-core:Non-currentFinancialInstruments 2023-05-31 10806665 frs-core:ShareCapital 2023-05-31 10806665 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 10806665 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31
Registered number: 10806665
Forging Assets Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 10806665
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,962 14,663
Investment Properties 5 1,299,833 1,272,865
1,308,795 1,287,528
CURRENT ASSETS
Cash at bank and in hand 8,306 3,105
8,306 3,105
Creditors: Amounts Falling Due Within One Year (450,396 ) (624,032 )
NET CURRENT ASSETS (LIABILITIES) (442,090 ) (620,927 )
TOTAL ASSETS LESS CURRENT LIABILITIES 866,705 666,601
Creditors: Amounts Falling Due After More Than One Year (772,810 ) (579,969 )
NET ASSETS 93,895 86,632
CAPITAL AND RESERVES
Called up share capital 6 10 10
Fair value reserve 237,188 237,188
Profit and Loss Account (143,303 ) (150,566 )
SHAREHOLDERS' FUNDS 93,895 86,632
Page 1
Page 2
For the year ending 31 May 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Christopher Martell
Director
17/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Forging Assets Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10806665 . The registered office is 16 Bramley Park Avenue , Sherburn in Elmet, Leeds, LS25 6FA.
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
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:
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
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: 2 (2023: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 June 2023 41,336
Additions 2,792
As at 31 May 2024 44,128
Depreciation
As at 1 June 2023 26,673
Provided during the period 8,493
As at 31 May 2024 35,166
Net Book Value
As at 31 May 2024 8,962
As at 1 June 2023 14,663
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 1,272,865
Additions 26,968
Disposals -
Revaluations -
As at 31 May 2024 1,299,833
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4