IRIS Accounts Production v25.1.0.734 07725212 director 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh077252122023-08-31077252122024-08-31077252122023-09-012024-08-31077252122022-08-31077252122022-09-012023-08-31077252122023-08-3107725212ns15:EnglandWales2023-09-012024-08-3107725212ns14:PoundSterling2023-09-012024-08-3107725212ns10:Director12023-09-012024-08-3107725212ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3107725212ns10:SmallEntities2023-09-012024-08-3107725212ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3107725212ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3107725212ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3107725212ns10:FullAccounts2023-09-012024-08-3107725212ns10:CompanySecretary12023-09-012024-08-3107725212ns10:RegisteredOffice2023-09-012024-08-3107725212ns5:CurrentFinancialInstruments2024-08-3107725212ns5:CurrentFinancialInstruments2023-08-3107725212ns5:ShareCapital2024-08-3107725212ns5:ShareCapital2023-08-3107725212ns5:RetainedEarningsAccumulatedLosses2024-08-3107725212ns5:RetainedEarningsAccumulatedLosses2023-08-3107725212ns5:PlantMachinery2023-09-012024-08-3107725212ns5:PlantMachinery2023-08-3107725212ns5:PlantMachinery2024-08-3107725212ns5:PlantMachinery2023-08-3107725212ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3107725212ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-31
REGISTERED NUMBER: 07725212 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

FOREST AUTO SALVAGE LIMITED

FOREST AUTO SALVAGE LIMITED (REGISTERED NUMBER: 07725212)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOREST AUTO SALVAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: M D Anderson





SECRETARY: Mrs L M Anderson





REGISTERED OFFICE: Forest Vale Road Industrial Estate
Cinderford
Gloucestershire
GL14 2PH





REGISTERED NUMBER: 07725212 (England and Wales)





ACCOUNTANTS: Shiner Mitchell Fisher & Co Ltd
Smith House
George Street
Nailsworth
Stroud
Gloucestershire
GL6 0AG

FOREST AUTO SALVAGE LIMITED (REGISTERED NUMBER: 07725212)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 231,172 281,908

CURRENT ASSETS
Stocks 564,995 454,791
Debtors 5 23,857 17,453
Cash at bank and in hand 616,431 739,577
1,205,283 1,211,821
CREDITORS
Amounts falling due within one year 6 467,826 544,347
NET CURRENT ASSETS 737,457 667,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

968,629

949,382

PROVISIONS FOR LIABILITIES 57,274 52,515
NET ASSETS 911,355 896,867

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 911,353 896,865
SHAREHOLDERS' FUNDS 911,355 896,867

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 28 May 2025 and were signed by:



M D Anderson - Director


FOREST AUTO SALVAGE LIMITED (REGISTERED NUMBER: 07725212)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Forest Auto Salvage Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 16 ) .

FOREST AUTO SALVAGE LIMITED (REGISTERED NUMBER: 07725212)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 576,524
Additions 7,056
At 31 August 2024 583,580
DEPRECIATION
At 1 September 2023 294,616
Charge for year 57,792
At 31 August 2024 352,408
NET BOOK VALUE
At 31 August 2024 231,172
At 31 August 2023 281,908

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 22,847 13,961
Other debtors 1,010 3,492
23,857 17,453

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 48,870 137,486
Taxation and social security 83,857 88,792
Other creditors 335,099 318,069
467,826 544,347

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £54,000 (2023 - £60,000) were paid to the director .

During the year the director has made an unsecured interest free loan to the company. The balance owing to the director at 31 August 2024 was £321,849 (2023 - £304,969).

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director and his wife who, between them, own 100% of the issued share capital.