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Registered Number: 10782951
England and Wales

 

 

 

FOREST GATE PROPERTIES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 312,500    312,500 
312,500    312,500 
Current assets      
Cash at bank and in hand 38,577    45,176 
Creditors: amount falling due within one year 4 (180,303)   (190,652)
Net current assets (141,726)   (145,476)
 
Total assets less current liabilities 170,774    167,024 
Creditors: amount falling due after more than one year 5 (150,640)   (154,640)
Net assets 20,134    12,384 
 

Capital and reserves
     
Called up share capital 6 2    2 
Profit and loss account 20,132    12,382 
Shareholders' funds 20,134    12,384 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 26 February 2025 and were signed by:


-------------------------------
Karisma PATEL
Director
1
General Information
FOREST GATE PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 10782951, registration address 10 Cameron Road , Ilford, Essex, IG3 8LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 June 2023 312,500    312,500 
Additions  
Disposals  
At 31 May 2024 312,500    312,500 
Depreciation
At 01 June 2023  
Charge for year  
On disposals  
At 31 May 2024  
Net book values
Closing balance as at 31 May 2024 312,500    312,500 
Opening balance as at 01 June 2023 312,500    312,500 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,292    1,992 
Bank Loans & Overdrafts (Secured) 157,500    157,500 
Bank Loans & Overdrafts 18,942    29,591 
Corporation Tax 1,569    1,569 
180,303    190,652 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Directors' Loan Accounts 150,640    154,640 
150,640    154,640 

6.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2