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Company Registration No. 03729254 (England and Wales)
Forays Homes (Southern) Ltd Unaudited accounts for the year ended 31 August 2024
Forays Homes (Southern) Ltd Unaudited accounts Contents
Page
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Forays Homes (Southern) Ltd Company Information for the year ended 31 August 2024
Directors
Arran Kiern Atkinson Beatrice Florence Atkinson Derek Tony Atkinson Roger Neil Atkinson
Company Number
03729254 (England and Wales)
Registered Office
6 Cedar Business Park Cedar Lane Frimley Surrey GU16 7AZ Surrey
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Forays Homes (Southern) Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
155,154 
218,888 
Current assets
Inventories
7,238,082 
3,160,627 
Debtors
2,145,434 
1,787,192 
Cash at bank and in hand
107,323 
66,539 
9,490,839 
5,014,358 
Creditors: amounts falling due within one year
(8,827,755)
(4,389,439)
Net current assets
663,084 
624,919 
Total assets less current liabilities
818,238 
843,807 
Creditors: amounts falling due after more than one year
(154,162)
(181,677)
Provisions for liabilities
Deferred tax
(6,238)
(6,238)
Net assets
657,838 
655,892 
Capital and reserves
Called up share capital
350,120 
350,120 
Profit and loss account
307,718 
305,772 
Shareholders' funds
657,838 
655,892 
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
Arran Kiern Atkinson Director Company Registration No. 03729254
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Forays Homes (Southern) Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Forays Homes (Southern) Ltd is a private company, limited by shares, registered in England and Wales, registration number 03729254. The registered office is 6 Cedar Business Park, Cedar Lane, Frimley, Surrey, GU16 7AZ, Surrey.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue 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
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.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Government grants
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
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Forays Homes (Southern) Ltd Notes to the Accounts for the year ended 31 August 2024
Work in progress
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
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.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's inventories and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
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Forays Homes (Southern) Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2023
8,266 
268,138 
246 
276,650 
Additions
2,163 
- 
585 
2,748 
At 31 August 2024
10,429 
268,138 
831 
279,398 
Depreciation
At 1 September 2023
6,334 
51,182 
246 
57,762 
Charge for the year
811 
65,659 
12 
66,482 
At 31 August 2024
7,145 
116,841 
258 
124,244 
Net book value
At 31 August 2024
3,284 
151,297 
573 
155,154 
At 31 August 2023
1,932 
216,956 
- 
218,888 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
247,552 
35,682 
Trade debtors
8,796 
6,005 
Amounts due from group undertakings etc.
1,515,632 
1,553,970 
Accrued income and prepayments
7,495 
191,535 
Other debtors
365,959 
- 
2,145,434 
1,787,192 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,897,819 
28,112 
Obligations under finance leases and hire purchase contracts
28,645 
28,645 
Trade creditors
587,944 
177,650 
Amounts owed to group undertakings and other participating interests
85,335 
29,353 
Taxes and social security
92,275 
8,294 
Other creditors
4,802,000 
3,455,221 
Loans from directors
- 
420,452 
Accruals
333,737 
241,712 
8,827,755 
4,389,439 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
154,162 
181,677 
The loans are secured on the related assets of the entity.
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Forays Homes (Southern) Ltd Notes to the Accounts for the year ended 31 August 2024
8
Average number of employees
During the year the average number of employees was 10 (2023: 10).
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