Registered number
02277603
FORCELUX LIMITED
Unaudited Filleted Accounts
30 April 2024
FORCELUX LIMITED
Registered number: 02277603
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 691 542
Investments 4 1,459,692 1,485,655
1,460,383 1,486,197
Current assets
Debtors 5 442,221 409,343
Cash at bank and in hand 1,550,403 1,264,248
1,992,624 1,673,591
Creditors: amounts falling due within one year 6 (404,684) (340,988)
Net current assets 1,587,940 1,332,603
Total assets less current liabilities 3,048,323 2,818,800
Provisions for liabilities (238,557) (231,887)
Net assets 2,809,766 2,586,913
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 7 947,953 969,586
Profit and loss account 1,860,813 1,616,327
Shareholders' funds 2,809,766 2,586,913
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. E. F. Jakob
Director
Approved by the board on 8 April 2025
FORCELUX LIMITED
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% on written down value
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Office
Equipment
£
Cost
At 1 May 2023 2,668
Additions 380
At 30 April 2024 3,048
Depreciation
At 1 May 2023 2,126
Charge for the year 231
At 30 April 2024 2,357
Net book value
At 30 April 2024 691
At 30 April 2023 542
4 Fixed Assets - Investments
2024 2023
£ £
Freehold reversions at valuation 1,450,391 1,479,123
Quoted shares at valuation 9,301 6,532
1,459,692 1,485,655
Freehold reversions held as at 30th April 2024 have been included at fair value as stated
Freehold reversions were valued as follows:
By professional valuers on 25th October 2011 1,300,000 1,300,000
Increase in value re lease extensions 317,321 321,853
Less value of freehold reversions sold (153,730) (142,730)
Revalued assets held as at 30th April 2024 1,463,591 1,479,123
Freehold reversions at cost 271,692 282,692
Quoted shares at cost 1,490 1,490
273,182 284,182
Valuation at 30th April 2024 1,459,692 1,485,655
Surplus on revaluation 1,186,510 1,201,473
Less provision for deferred tax (238,557) (231,887)
Revaluation reserve 947,953 969,586
5 Debtors 2024 2023
£ £
Trade debtors 108,084 79,410
Connected companies 4,729 4,729
Other debtors 329,408 325,204
442,221 409,343
Amounts due after more than one year included above 293,063 297,291
Debt due after more than one year is secured.
6 Creditors: amounts falling due within one year 2024 2023
£ £
Income received in advance 131,602 109,537
Connected companies 36,629 36,629
Trade creditors 2,207 4,393
Director's loan account 136,994 129,216
Corporation tax 92,223 56,184
Sundry creditors and accruals 5,029 5,029
404,684 340,988
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 969,586 956,587
(Loss)/gain on revaluation of freehold reversions & shares (14,963) 17,224
Deferred taxation arising on the revaluation
(6,670) (4,225)
At 30 April 2024 947,953 969,586
8 Other information
FORCELUX LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2, Greenacre
Houghton Road
St Ives
Cambridgeshire
PE27 6RN
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