Company Registration No. 10246744 (England and Wales)
Forays Investments Limited
Unaudited accounts
for the year ended 31 August 2024
Forays Investments Limited
Unaudited accounts
Contents
Forays Investments Limited
Company Information
for the year ended 31 August 2024
Directors
A K Atkinson
R N Atkinson
Company Number
10246744 (England and Wales)
Registered Office
6 Cedar Business Park
Cedar Lane
Frimley
Surrey
GU16 7AZ
England
Forays Investments Limited
Statement of financial position
as at 31 August 2024
Investment property
3,669,058
3,389,000
Cash at bank and in hand
3,339
5,302
Creditors: amounts falling due within one year
(81,679)
(68,504)
Net current assets
329,704
353,403
Total assets less current liabilities
3,998,762
3,742,403
Creditors: amounts falling due after more than one year
(2,683,294)
(2,496,663)
Provisions for liabilities
Deferred tax
(82,451)
(82,451)
Net assets
1,233,017
1,163,289
Called up share capital
2
2
Profit and loss account
1,233,015
1,163,287
Shareholders' funds
1,233,017
1,163,289
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by
A K Atkinson
Director
Company Registration No. 10246744
Forays Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
Forays Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10246744. The registered office is 6 Cedar Business Park, Cedar Lane, Frimley, Surrey, GU16 7AZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
For this reason the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Forays Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
Revaluation of tangible fixed assets
Individual freehold and leasehold properties are carried at current year value at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount foes not differ materially from that which would be determined using fair value at the Statement of Financial Position date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 September 2023
3,389,000
Net gain from fair value adjustments
36,000
At 31 August 2024
3,669,058
The directors have considered the market value of the properties as at 31 August 2024 and are satisfied that the value of £3,669,058 is a fair representation of this.
The original cost of the properties was £3,006,512.
Amounts falling due within one year
Amounts due from group undertakings etc.
407,120
416,120
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,992
5,374
Taxes and social security
11,508
3,749
Other creditors
11,185
8,404
Loans from directors
55,994
50,977
Forays Investments Limited
Notes to the Accounts
for the year ended 31 August 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,204,063
2,041,579
Amounts owed to group undertakings and other participating interests
479,231
455,084
The bank loans are secured by fixed asset charges over the investment property and floating charges over the company's other assets.
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).