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Filleted
Registration number: 13452860

Forge Merriman Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Forge Merriman Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Forge Merriman Ltd

Company Information

Directors

Mr E D Merriman

Mr C D Lawson

Registered office

1st Floor
Agriculture House
Winch Lane
Haverfordwest
SA61 1RW

Accountants

LHP Haverfordwest
Chartered Certified Accountants1st Floor
Agriculture House
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1RW

 

Forge Merriman Ltd

(Registration number: 13452860)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

971

1,078

Current assets

 

Debtors

5

15,472

4,800

Cash at bank and in hand

 

10,936

24,538

 

26,408

29,338

Creditors: Amounts falling due within one year

6

(18,871)

(15,856)

Net current assets

 

7,537

13,482

Total assets less current liabilities

 

8,508

14,560

Provisions for liabilities

(184)

-

Net assets

 

8,324

14,560

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

8,124

14,360

Shareholders' funds

 

8,324

14,560

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
Mr E D Merriman
Director

   
     
 

Forge Merriman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
1st Floor
Agriculture House
Winch Lane
Haverfordwest
SA61 1RW

These financial statements were authorised for issue by the Board on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Forge Merriman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

10% reducing balance

Fixtures and fittings

10% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Forge Merriman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Forge Merriman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

125

1,207

1,332

At 30 June 2024

125

1,207

1,332

Depreciation

At 1 July 2023

24

230

254

Charge for the year

10

97

107

At 30 June 2024

34

327

361

Carrying amount

At 30 June 2024

91

880

971

At 30 June 2023

101

977

1,078

5

Debtors

Current

2024
£

2023
£

Trade debtors

15,372

4,700

Other debtors

100

100

 

15,472

4,800

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

3,004

2,555

Taxation and social security

 

5,192

3,110

Other related parties

 

3,175

1,840

Other creditors

 

1,798

1,789

Corporation tax liability

 

5,702

6,562

 

18,871

15,856

 

Forge Merriman Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

200

200

200

200

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Repayments by director
£

At 30 June 2024
£

Mr E D Merriman

Interest free loan with no fixed repayment term

(1,840)

(1,335)

(3,175)

Mr C D Lawson

Interest free loan with no fixed repayment term

100

-

100

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

Mr E D Merriman

Interest free loan with no fixed repayment term

(652)

(1,188)

(1,840)

Mr C D Lawson

Interest free loan with no fixed repayment term

100

-

100

Summary of transactions with joint ventures

Forge Property Consultants Limited
(Mr Charles Lawson is a director of Forge Property Consultants Limited)
Forge Property Development Limited
(Mr Charles Lawson is a director of Forge Property Development Limited)