Registration number: 12867678

Forge Technologies Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Forge Technologies Ltd

Company Information

Directors

S M Simpson J Osmond J Humphrey

Registered office

7 Bell Yard London WC2A 2JR

Accountants

Sansum & Co Limited 1 Meadow View High Street Burbage Marlborough SN8 3AF

Forge Technologies Ltd

(Registration number: 12867678)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	9,016	-
Tangible assets	5	28,962	10,237
		37,978	10,237
Current assets
Debtors	6	965,526	625,398
Cash at bank and in hand		671,922	559,606
		1,637,448	1,185,004
Creditors: Amounts falling due within one year	7	(1,723,382)	(885,499)
Net current (liabilities)/assets		(85,934)	299,505
Total assets less current liabilities		(47,956)	309,742
Provisions for liabilities		-	(2,559)
Net (liabilities)/assets		(47,956)	307,183
Capital and reserves
Called up share capital	8	205	205
Share premium reserve		20,145	20,145
Retained earnings		(68,306)	286,833
Shareholders' (deficit)/funds		(47,956)	307,183

For the financial year ending 30 September 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 2 April 2025 and signed on its behalf by:
 

......................................... S M Simpson Director

Forge Technologies Ltd

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

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Bell Yard
London
WC2A 2JR

These financial statements were authorised for issue by the Board on 2 April 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 Technologies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Forge Technologies Ltd

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 12).

Forge Technologies Ltd

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

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
Additions acquired separately	9,660	9,660
At 30 September 2024	9,660	9,660
Amortisation
Amortisation charge	644	644
At 30 September 2024	644	644
Carrying amount
At 30 September 2024	9,016	9,016

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 October 2023	13,936	13,936
Additions	27,272	27,272
At 30 September 2024	41,208	41,208
Depreciation
At 1 October 2023	3,699	3,699
Charge for the year	8,547	8,547
At 30 September 2024	12,246	12,246
Carrying amount
At 30 September 2024	28,962	28,962
At 30 September 2023	10,237	10,237

6

Debtors

Current	2024 £	2023 £
Trade debtors	310,451	184,015
Prepayments	261,441	310,852
Other debtors	393,634	130,531
	965,526	625,398

Forge Technologies Ltd

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

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	145,821	57,793
Taxation and social security	323,738	193,450
Accruals and deferred income	1,126,267	608,272
Other creditors	127,556	25,984
	1,723,382	885,499

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary A shares of £0.01 each	10,000	100	10,000	100
Ordinary B shares of £0.01 each	4,000	40	4,000	40
Ordinary C shares of £0.01 each	4,000	40	4,000	40
Ordinary D shares of £0.01 each	2,545	25	2,545	25
	20,545	205	20,545	205

9

Dividends

Interim dividends paid

		2024 £		2023 £
Interim dividend of £Nil (2023 - £2.50) per each Ordinary A shares		-		25,000
Interim dividend of £Nil (2023 - £6.25) per each Ordinary B shares		-		25,000
Interim dividend of £Nil (2023 - £6.25) per each Ordinary C shares		-		25,000
Interim dividend of £Nil (2023 - £9.82) per each Ordinary D shares		-		25,000
		-		100,000

Forge Technologies Ltd

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

10	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	201,932	164,584
Contributions paid to money purchase schemes	3,654	2,319
	205,586	166,903