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REGISTERED NUMBER: 05339004 (England and Wales)









FORUM EUROPE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORUM EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D S Craft
J O Wilmott
Miss A I M Simon
Mrs C F Bowditch
J A Francombe





REGISTERED OFFICE: 5 Sovereign Quay
Havannah Street
Cardiff
SOUTH GLAMORGAN
CF10 5SF





REGISTERED NUMBER: 05339004 (England and Wales)






FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,496 21,867
Tangible assets 5 288,812 257,881
299,308 279,748

CURRENT ASSETS
Debtors 6 1,554,252 1,215,282
Cash at bank and in hand 586,193 843,321
2,140,445 2,058,603
CREDITORS
Amounts falling due within one year 7 894,191 1,171,888
NET CURRENT ASSETS 1,246,254 886,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,545,562

1,166,463

PROVISIONS FOR LIABILITIES 9 39,500 31,651
NET ASSETS 1,506,062 1,134,812

CAPITAL AND RESERVES
Called up share capital 10 90 90
Share premium 124,470 124,470
Capital redemption reserve 40 40
Retained earnings 1,381,462 1,010,212
SHAREHOLDERS' FUNDS 1,506,062 1,134,812

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

BALANCE SHEET - continued
30 JUNE 2024


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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13 March 2025 and were signed on its behalf by:





J O Wilmott - Director


FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

1. STATUTORY INFORMATION

Forum Europe Ltd 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

Intercompany balances
Amounts due from related parties are assessed for recoverability at each reporting date. Where there is evidence that an amount is unlikely to be recovered, an impairment charge is recognised in the profit and loss account. In cases where the balance is formally waived, the amount is written off directly to the profit and loss account.

Useful economic lives of tangible assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the tangible fixed assets and accounting policies in note 2 for the useful economic lives of each class of asset.

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is revenue earned form event management services and sponsorship fees and is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Computers and equipment - 25% on reducing balance
Motor vehicles - 20% on reducing balance

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 26 ) .

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023
and 30 June 2024 82,528
AMORTISATION
At 1 July 2023 60,661
Amortisation for year 11,371
At 30 June 2024 72,032
NET BOOK VALUE
At 30 June 2024 10,496
At 30 June 2023 21,867

5. TANGIBLE FIXED ASSETS
Improvements Computers
to and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2023 134,374 142,758 126,590 403,722
Additions - 17,839 126,840 144,679
Disposals - (65,684 ) (117,090 ) (182,774 )
At 30 June 2024 134,374 94,913 136,340 365,627
DEPRECIATION
At 1 July 2023 3,095 92,124 50,622 145,841
Charge for year - 14,114 25,335 39,449
Eliminated on disposal - (60,108 ) (48,367 ) (108,475 )
At 30 June 2024 3,095 46,130 27,590 76,815
NET BOOK VALUE
At 30 June 2024 131,279 48,783 108,750 288,812
At 30 June 2023 131,279 50,634 75,968 257,881

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 468,657 587,662
Other debtors 1,085,595 627,620
1,554,252 1,215,282

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 111,369 99,727
Taxation and social security 245,809 287,943
Other creditors 537,013 784,218
894,191 1,171,888

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,500 31,500

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 39,500 31,651

Deferred
tax
£   
Balance at 1 July 2023 31,651
Accelerated capital allowances 7,849
Balance at 30 June 2024 39,500

FORUM EUROPE LTD (REGISTERED NUMBER: 05339004)

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

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 Ordinary A £1 60 60
30 Ordinary B £1 30 30
90 90

11. TRANSACTIONS WITH DIRECTORS

At the reporting date the company owed £167,176 (2023 - £167,601) to its directors and the balance is included within creditors amounts falling due within one year.

The directors operate an interest free loan account with the company which is repayable on demand.

12. RELATED PARTY DISCLOSURES

During the year the company provided a loan to Jadach Estates Ltd of £328,086 (2023 - £328,086) which remains outstanding at the year end. The loan is interest free and repayable on demand. Jadach Estates Ltd is related due to common directors and shareholders.

During the year the company provided a loan to Epsilon Events Ltd of £297 (2023 - £297), which remains outstanding at the year end. The loan is interest free and repayable on demand. Epsilon Events Ltd is related due to common directors and shareholders.

During the year the company provided a loan to Foges NV of £45,069 (2023 - £44,559), which remains outstanding at the year end. The loan is interest free and repayable on demand. Foges NV is related due to common directors and shareholders.