IRIS Accounts Production v24.3.2.46 03728924 director 1.7.23 30.6.24 30.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037289242023-06-30037289242024-06-30037289242023-07-012024-06-30037289242022-06-30037289242022-07-012023-06-30037289242023-06-3003728924ns15:EnglandWales2023-07-012024-06-3003728924ns14:PoundSterling2023-07-012024-06-3003728924ns10:Director12023-07-012024-06-3003728924ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003728924ns10:SmallEntities2023-07-012024-06-3003728924ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3003728924ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3003728924ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3003728924ns10:FullAccounts2023-07-012024-06-3003728924ns10:RegisteredOffice2023-07-012024-06-3003728924ns5:CurrentFinancialInstruments2024-06-3003728924ns5:CurrentFinancialInstruments2023-06-3003728924ns5:Non-currentFinancialInstruments2024-06-3003728924ns5:Non-currentFinancialInstruments2023-06-3003728924ns5:ShareCapital2024-06-3003728924ns5:ShareCapital2023-06-3003728924ns5:FurtherSpecificReserve2ComponentTotalEquity2024-06-3003728924ns5:FurtherSpecificReserve2ComponentTotalEquity2023-06-3003728924ns5:RetainedEarningsAccumulatedLosses2024-06-3003728924ns5:RetainedEarningsAccumulatedLosses2023-06-3003728924ns5:LandBuildings2023-06-3003728924ns5:PlantMachinery2023-06-3003728924ns5:FurnitureFittings2023-06-3003728924ns5:LandBuildings2023-07-012024-06-3003728924ns5:PlantMachinery2023-07-012024-06-3003728924ns5:FurnitureFittings2023-07-012024-06-3003728924ns5:LandBuildings2024-06-3003728924ns5:PlantMachinery2024-06-3003728924ns5:FurnitureFittings2024-06-3003728924ns5:LandBuildings2023-06-3003728924ns5:PlantMachinery2023-06-3003728924ns5:FurnitureFittings2023-06-3003728924ns5:MotorVehicles2023-06-3003728924ns5:ComputerEquipment2023-06-3003728924ns5:MotorVehicles2023-07-012024-06-3003728924ns5:ComputerEquipment2023-07-012024-06-3003728924ns5:MotorVehicles2024-06-3003728924ns5:ComputerEquipment2024-06-3003728924ns5:MotorVehicles2023-06-3003728924ns5:ComputerEquipment2023-06-3003728924ns5:CostValuation2023-06-3003728924ns5:AdditionsToInvestments2024-06-3003728924ns5:DisposalsRepaymentsInvestments2024-06-3003728924ns5:CostValuation2024-06-3003728924ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3003728924ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3003728924ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-06-3003728924ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-06-3003728924ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3003728924ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-30
REGISTERED NUMBER: 03728924 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

FOREVER ENTERPRISES LIMITED

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FOREVER ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mr J Jacob





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 03728924 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,249,992 2,297,323
Investments 5 252,167 799,103
2,502,159 3,096,426

CURRENT ASSETS
Stocks 983,374 632,361
Debtors 6 1,276,187 1,907,476
Cash at bank 1,215,859 732,915
3,475,420 3,272,752
CREDITORS
Amounts falling due within one year 7 853,610 1,111,068
NET CURRENT ASSETS 2,621,810 2,161,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,123,969

5,258,110

CREDITORS
Amounts falling due after more than one year 8 (878,822 ) (931,740 )

PROVISIONS FOR LIABILITIES (75,100 ) (76,379 )
NET ASSETS 4,170,047 4,249,991

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Other reserves 726 726
Retained earnings 3,669,321 3,749,265
4,170,047 4,249,991

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 director and authorised for issue on 21 February 2025 and were signed by:





Mr J Jacob - Director


FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Forever Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax. Revenue is recognised when services are rendered to the customers.

Property,plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 2,508,278 6,211 110,883
Additions - - -
At 30 June 2024 2,508,278 6,211 110,883
DEPRECIATION
At 1 July 2023 240,798 6,211 91,950
Charge for year 40,133 - 4,733
At 30 June 2024 280,931 6,211 96,683
NET BOOK VALUE
At 30 June 2024 2,227,347 - 14,200
At 30 June 2023 2,267,480 - 18,933

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 13,900 24,490 2,663,762
Additions - 262 262
At 30 June 2024 13,900 24,752 2,664,024
DEPRECIATION
At 1 July 2023 8,035 19,445 366,439
Charge for year 1,466 1,261 47,593
At 30 June 2024 9,501 20,706 414,032
NET BOOK VALUE
At 30 June 2024 4,399 4,046 2,249,992
At 30 June 2023 5,865 5,045 2,297,323

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 799,103
Additions 200,000
Disposals (746,936 )
At 30 June 2024 252,167
NET BOOK VALUE
At 30 June 2024 252,167
At 30 June 2023 799,103

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 601,746 1,549,533
Amounts owed by group undertakings 36,000 -
Amounts owed by associates 571,514 287,788
Other debtors 66,927 70,155
1,276,187 1,907,476

FOREVER ENTERPRISES LIMITED (REGISTERED NUMBER: 03728924)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts (see note 9) 98,257 122,846
Trade creditors 257,526 437,847
Taxation and social security 270,413 310,723
Other creditors 227,414 239,652
853,610 1,111,068

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans (see note 9) 878,822 931,740

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
as restated
£    £   
Amounts falling due within one year or on demand:
Bank loans 98,257 122,846

Amounts falling due between one and two years:
Bank loans - 1-2 years 98,257 122,846

Amounts falling due between two and five years:
Bank loans - 2-5 years 780,565 808,894

The bank loan is secured by way of fixed charge over the company's properties.

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors due within a year is an amount of £571,514 (2023: £287,788) due from connected
companies under common control. The amount was interest free and repayable on demand.

Included in other creditors is an amount of £1,305 (2023: £1,078) payable to the director of the company. The amount was interest free and repayable on demand.