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THE FORGOTTEN PROPERTY LIMITED

Registered Number
11043495
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

THE FORGOTTEN PROPERTY LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

KOGUT, Stefan Douglas Stanislav
LIN, Yaling

Registered Address

78 Broadmead
Corsham
SN13 9AP

Registered Number

11043495 (England and Wales)
THE FORGOTTEN PROPERTY LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets385,08185,102
85,08185,102
Current assets
Debtors111149
Cash at bank and on hand5,5214,356
5,6324,505
Creditors amounts falling due within one year5(59,670)(58,856)
Net current assets (liabilities)(54,038)(54,351)
Total assets less current liabilities31,04330,751
Creditors amounts falling due after one year6(61,199)(61,199)
Provisions for liabilities7(5,214)(5,199)
Net assets(35,370)(35,647)
Capital and reserves
Called up share capital100100
Profit and loss account(35,470)(35,747)
Shareholders' funds(35,370)(35,647)
The financial statements were approved and authorised for issue by the Board of Directors on 3 June 2025, and are signed on its behalf by:
LIN, Yaling
Director
Registered Company No. 11043495
THE FORGOTTEN PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the renting out of held properties.
Current taxation
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
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings20-
Office Equipment-4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year02
3.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 2385,00031185,311
At 30 November 2485,00031185,311
Depreciation and impairment
At 01 December 23-209209
Charge for year-2121
At 30 November 24-230230
Net book value
At 30 November 2485,0008185,081
At 30 November 2385,00010285,102
Investment property comprises freehold properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
4.Impairment of tangible fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1414
Other creditors54,32754,020
Accrued liabilities and deferred income5,3294,822
Total59,67058,856
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts61,19961,199
Total61,19961,199
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,2145,199
Total5,2145,199