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 07598194 Mr Tony Metcalfe Mr Paul Metcalfe iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07598194 2023-05-31 07598194 2024-05-31 07598194 2023-06-01 2024-05-31 07598194 frs-core:CurrentFinancialInstruments 2024-05-31 07598194 frs-core:Non-currentFinancialInstruments 2024-05-31 07598194 frs-core:BetweenOneFiveYears 2024-05-31 07598194 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 07598194 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 07598194 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 07598194 frs-core:MotorVehicles 2024-05-31 07598194 frs-core:MotorVehicles 2023-06-01 2024-05-31 07598194 frs-core:MotorVehicles 2023-05-31 07598194 frs-core:PlantMachinery 2024-05-31 07598194 frs-core:PlantMachinery 2023-06-01 2024-05-31 07598194 frs-core:PlantMachinery 2023-05-31 07598194 frs-core:WithinOneYear 2024-05-31 07598194 frs-core:ShareCapital 2024-05-31 07598194 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 07598194 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07598194 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 07598194 frs-bus:SmallEntities 2023-06-01 2024-05-31 07598194 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07598194 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07598194 frs-bus:Director1 2023-06-01 2024-05-31 07598194 frs-bus:Director2 2023-06-01 2024-05-31 07598194 frs-countries:EnglandWales 2023-06-01 2024-05-31 07598194 2022-05-31 07598194 2023-05-31 07598194 2022-06-01 2023-05-31 07598194 frs-core:CurrentFinancialInstruments 2023-05-31 07598194 frs-core:Non-currentFinancialInstruments 2023-05-31 07598194 frs-core:BetweenOneFiveYears 2023-05-31 07598194 frs-core:WithinOneYear 2023-05-31 07598194 frs-core:ShareCapital 2023-05-31 07598194 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 07598194
Forgewood Plant Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07598194
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,027,269 2,462,244
2,027,269 2,462,244
CURRENT ASSETS
Stocks 5 601,793 601,793
Debtors 6 558,247 471,601
Cash at bank and in hand 70 3
1,160,110 1,073,397
Creditors: Amounts Falling Due Within One Year 7 (925,643 ) (1,126,887 )
NET CURRENT ASSETS (LIABILITIES) 234,467 (53,490 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,261,736 2,408,754
Creditors: Amounts Falling Due After More Than One Year 8 (2,038,407 ) (1,967,852 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (62,618 ) (117,011 )
NET ASSETS 160,711 323,891
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 160,611 323,791
SHAREHOLDERS' FUNDS 160,711 323,891
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.
On behalf of the board
Mr Paul Metcalfe
Director
25/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Forgewood Plant Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07598194 . The registered office is Forgewood Wray Road, Wennington, Lancaster, West Yorkshire, England, LA2 8NN.
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:
Freehold No Depreciation
Plant & Machinery 15% WDV
Motor Vehicles 25% WDV
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 June 2023 1,017,521 2,181,372 967,877 4,166,770
Additions - 34,302 - 34,302
Disposals - (371,318 ) (30,995 ) (402,313 )
As at 31 May 2024 1,017,521 1,844,356 936,882 3,798,759
Depreciation
As at 1 June 2023 - 1,058,367 646,159 1,704,526
Provided during the period - 149,712 79,976 229,688
Disposals - (140,327 ) (22,397 ) (162,724 )
As at 31 May 2024 - 1,067,752 703,738 1,771,490
Net Book Value
As at 31 May 2024 1,017,521 776,604 233,144 2,027,269
As at 1 June 2023 1,017,521 1,123,005 321,718 2,462,244
5. Stocks
2024 2023
£ £
Work in progress 601,793 601,793
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 357,618 59,326
Other debtors 200,629 412,275
558,247 471,601
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 366,172 439,891
Trade creditors 8,836 141,317
Bank loans and overdrafts 17,663 18,973
Amounts owed to participating interests 353,897 353,631
Other creditors 178,075 173,075
Taxation and social security 1,000 -
925,643 1,126,887
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 392,821 787,396
Bank loans 1,584,037 1,119,907
Other loans 61,549 60,549
2,038,407 1,967,852
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 366,172 439,891
Later than one year and not later than five years 392,821 787,396
758,993 1,227,287
758,993 1,227,287
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
T & P Metcalfe & Son Ltd
A company owned and controlled by the directors.
Amount due from the related party at the balance sheet date was £Nil (2023: £265,190).
T&P Metcalfe & Son Ltd went into adminsistration and was dissolved in October 2024 therefore all debts owed form the company have been written off.
Craven Concrete Ltd
A company owned and controlled by the directors.
Amount due from related party at the balance sheet date was £134,110 (2023 £1,552).
TPM Construction Ltd
A company owned and controlled by one of the directors.
Amount due to the related party at the balance sheet date £131,625 (2023 £232,922).
Old Parkside Properties Ltd
A company owned and controlled by Mr P A Metcalfe.
Amount due from related party at the balance sheet date £30,000 (2022 £30,000).
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