Forest Edge Solicitors Limited
Registered number: 08225131
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 195 260
Current assets
Debtors 4 100,634 82,418
Creditors: amounts falling due within one year 5 (87,552) (79,530)
Net current assets 13,082 2,888
Total assets less current liabilities 13,277 3,148
Creditors: amounts falling due after more than one year 6 (1,500) (3,000)
Net assets 11,777 148
Capital and reserves
Called up share capital 100 100
Profit and loss account 11,677 48
Shareholder's funds 11,777 148
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Matthew Parker
Director
Approved by the board on 27 February 2025
Forest Edge Solicitors Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
Including directors
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 2,856
At 31 May 2024 2,856
Depreciation
At 1 June 2023 2,596
Charge for the year 65
At 31 May 2024 2,661
Net book value
At 31 May 2024 195
At 31 May 2023 260
4 Debtors 2024 2023
£ £
Trade debtors 70,947 40,052
Other debtors 29,687 42,366
100,634 82,418
Amounts due after more than one year included above 6,554 9,583
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,695 8,190
Trade creditors 150 506
Corporation tax 41,292 28,981
Other taxes and social security costs 29,952 38,426
Other creditors 6,463 3,427
87,552 79,530
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,500 3,000
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr M Parker
[Loan 1] 29,355 82,660 (91,981) 20,034
29,355 82,660 (91,981) 20,034
During the period, Mr M Parker received an interest free loan to enable him to carry out his duties. The amount outstanding at the year-end was £20,034 (2023: £29,355). This balance is included within Other Debtors.
8 Other information
Forest Edge Solicitors Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Headlands Business Park
Salisbury Road
Ringwood
Hampshire
BH24 3PB
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