Acorah Software Products - Accounts Production 16.1.300 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 SC183591 Mr P C Duriez Mrs C M Duriez iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC183591 2023-06-30 SC183591 2024-06-30 SC183591 2023-07-01 2024-06-30 SC183591 frs-core:CurrentFinancialInstruments 2024-06-30 SC183591 frs-core:FurnitureFittings 2024-06-30 SC183591 frs-core:FurnitureFittings 2023-07-01 2024-06-30 SC183591 frs-core:FurnitureFittings 2023-06-30 SC183591 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 SC183591 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-06-30 SC183591 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 SC183591 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-30 SC183591 frs-core:MotorVehicles 2024-06-30 SC183591 frs-core:MotorVehicles 2023-07-01 2024-06-30 SC183591 frs-core:MotorVehicles 2023-06-30 SC183591 frs-core:CapitalRedemptionReserve 2024-06-30 SC183591 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 SC183591 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC183591 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 SC183591 frs-bus:SmallEntities 2023-07-01 2024-06-30 SC183591 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 SC183591 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC183591 frs-bus:Director1 2023-07-01 2024-06-30 SC183591 frs-bus:Director1 2023-06-30 SC183591 frs-bus:Director1 2024-06-30 SC183591 frs-bus:Director2 2023-07-01 2024-06-30 SC183591 frs-core:CurrentFinancialInstruments 1 2024-06-30 SC183591 frs-countries:Scotland 2023-07-01 2024-06-30 SC183591 2022-06-30 SC183591 2023-06-30 SC183591 2022-07-01 2023-06-30 SC183591 frs-core:CurrentFinancialInstruments 2023-06-30 SC183591 frs-core:CapitalRedemptionReserve 2023-06-30 SC183591 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 SC183591 frs-core:CurrentFinancialInstruments 1 2023-06-30
Registered number: SC183591
Forbes CP Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: SC183591
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,374,962 1,360,352
1,374,962 1,360,352
CURRENT ASSETS
Stock 5 2,020 2,000
Debtors 6 681,459 681,349
Cash at bank and in hand 648,899 400,126
1,332,378 1,083,475
Creditors: Amounts Falling Due Within One Year 7 (143,499 ) (163,298 )
NET CURRENT ASSETS (LIABILITIES) 1,188,879 920,177
TOTAL ASSETS LESS CURRENT LIABILITIES 2,563,841 2,280,529
PROVISIONS FOR LIABILITIES
Deferred Taxation (182,892 ) (138,888 )
NET ASSETS 2,380,949 2,141,641
CAPITAL AND RESERVES
Capital redemption reserve 1 1
Profit and Loss Account 2,380,948 2,141,640
SHAREHOLDERS' FUNDS 2,380,949 2,141,641
Page 1
Page 2
For the year ending 30 June 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 P C Duriez
Director
7 March 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Forbes CP Limited is a private company, limited by shares, incorporated in Scotland, registered number SC183591 . The registered office is 12 Claremont Park, Edinburgh, Midlothian, EH6 7PJ.
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
Leasehold 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
2.4. 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.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred 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.
...CONTINUED
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2.5. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2023: 27)
27 27
4. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 July 2023 1,426,011 83,204 70,375 1,579,590
Additions - 31,795 5,061 36,856
Disposals - (17,200 ) - (17,200 )
As at 30 June 2024 1,426,011 97,799 75,436 1,599,246
Depreciation
As at 1 July 2023 134,026 30,328 54,884 219,238
Provided during the period 4,199 14,444 1,718 20,361
Disposals - (15,315 ) - (15,315 )
As at 30 June 2024 138,225 29,457 56,602 224,284
Net Book Value
As at 30 June 2024 1,287,786 68,342 18,834 1,374,962
As at 1 July 2023 1,291,985 52,876 15,491 1,360,352
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Page 5
5. Stock
2024 2023
£ £
Materials 2,020 2,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,139 2,061
Amounts owed by related parties 679,288 679,288
Directors' loan accounts 32 -
681,459 681,349
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,837 5,284
Corporation tax 123,503 84,762
Other taxes and social security 8,260 6,700
Other creditors 6,012 8,607
Accruals and deferred income 2,887 2,774
Directors' loan accounts - 55,171
143,499 163,298
8. Share Capital
2024 2023
£ £
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Peter Duriez (55,171 ) 107,203 (52,000 ) - 32
The above loan is unsecured, interest free and repayable on demand.
10. Reserves
Within the profit and loss reserve there are £739,098 (2023: £782,019) of reserves that are non-distributable.
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11. Related Party Transactions
Included within amounts owed by related parties is a loan of £78,855 (2023: £78,855) made to Forbes GR Ltd. The loan is interest free with no fixed terms of repayment. Forbes GR Ltd is a related party by virtue of common ownership. PCA Duriez is also a director of Forbes GR Ltd.
Included within amounts owed by related parties is a loan of £550,433 (2023: £550,433) made to Forbes CN Holdings Ltd. The loan is interest free with no fixed terms of repayment. Forbes CN Holdings Ltd is a related party by virtue of common ownership. PCA Duriez is also a director of Forbes CN Holdings Ltd.
Included within amounts owed by related parties is a loan of £50,000 made to Forbes BP Ltd. The loan is interest free with no fixed terms of repayment. Forbes BP Ltd is a related party by virtue of common ownership. PCA Duriez is also a director of Forbes BP Ltd.
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