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Company No: 08740637 (England and Wales)

FOREST AND BEACH LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

FOREST AND BEACH LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

FOREST AND BEACH LIMITED

BALANCE SHEET

As at 31 October 2024
FOREST AND BEACH LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 422,015 334,313
422,015 334,313
Current assets
Debtors 5 0 7,412
Cash at bank and in hand 31,519 9,638
31,519 17,050
Creditors: amounts falling due within one year 6 ( 331,358) ( 258,671)
Net current liabilities (299,839) (241,621)
Total assets less current liabilities 122,176 92,692
Creditors: amounts falling due after more than one year 7 ( 9,119) ( 15,856)
Provision for liabilities ( 10,760) ( 7,421)
Net assets 102,297 69,415
Capital and reserves
Called-up share capital 8 20 20
Profit and loss account 102,277 69,395
Total shareholders' funds 102,297 69,415

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Forest and Beach Limited (registered number: 08740637) were approved and authorised for issue by the Board of Directors on 14 February 2025. They were signed on its behalf by:

Mr P W Moore
Director
Mrs A J Moore
Director
FOREST AND BEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
FOREST AND BEACH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 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

Forest and Beach Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Forest And Beach, Beeson, Kingsbridge, TQ7 2ED, United Kingdom. The principal place of business is Forest and Beach Centre, Beeson, Kingsbridge, Devon, TQ7 2ED.

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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have 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.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of refunds and value added tax.

The company recognises revenue when the value of services provided to date can be reliably measured.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 2 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Computer equipment 3 years straight line

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.

Financial instruments

The company holds the following financial instruments:

•Short term trade and other debtors and creditors;
•Bank loans; and
•Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 1

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 November 2023 5,000 5,000
At 31 October 2024 5,000 5,000
Accumulated amortisation
At 01 November 2023 5,000 5,000
At 31 October 2024 5,000 5,000
Net book value
At 31 October 2024 0 0
At 31 October 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £ £
Cost
At 01 November 2023 317,379 21,738 14,787 14,053 10,101 378,058
Additions 91,392 0 0 2,312 709 94,413
At 31 October 2024 408,771 21,738 14,787 16,365 10,810 472,471
Accumulated depreciation
At 01 November 2023 0 20,100 3,697 12,905 7,043 43,745
Charge for the financial year 0 509 3,696 741 1,765 6,711
At 31 October 2024 0 20,609 7,393 13,646 8,808 50,456
Net book value
At 31 October 2024 408,771 1,129 7,394 2,719 2,002 422,015
At 31 October 2023 317,379 1,638 11,090 1,148 3,058 334,313

5. Debtors

2024 2023
£ £
Trade debtors 0 2,400
Other debtors 0 5,012
0 7,412

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,480 0
Taxation and social security 5,005 1,857
Other creditors 322,873 256,814
331,358 258,671

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,119 15,856

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary A share of £ 10.00 10 10
1 Ordinary B share of £ 10.00 10 10
20 20