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REGISTERED NUMBER: 11009548 (England and Wales)















Financial Statements for the Year Ended 31 October 2024

for

4WARD Group Ltd

4WARD Group Ltd (Registered number: 11009548)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


4WARD Group Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTOR: J Ward





REGISTERED OFFICE: Fibrehub
Trevenson Lane
Redruth
Cornwall
TR15 3GF





REGISTERED NUMBER: 11009548 (England and Wales)





ACCOUNTANTS: Sovereign Accounting Solutions
Chartered Accountants and Business Advisers
Unit 9
Moorland Road Industrial Park
Moorland Road, Indian Queens
St Columb
Cornwall
TR9 6FB

4WARD Group Ltd (Registered number: 11009548)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,600 2,000
Tangible assets 5 883,608 751,728
Investments 6 100 100
885,308 753,828

CURRENT ASSETS
Stocks 7,280 3,367
Debtors 7 1,002,959 815,621
Cash at bank 65,278 29,572
1,075,517 848,560
CREDITORS
Amounts falling due within one year 8 1,033,507 826,341
NET CURRENT ASSETS 42,010 22,219
TOTAL ASSETS LESS CURRENT
LIABILITIES

927,318

776,047

CREDITORS
Amounts falling due after more than one
year

9

(355,446

)

(429,980

)

PROVISIONS FOR LIABILITIES (205,291 ) (113,558 )
NET ASSETS 366,581 232,509

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 366,381 232,309
SHAREHOLDERS' FUNDS 366,581 232,509

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

4WARD Group Ltd (Registered number: 11009548)

Balance Sheet - continued
31 October 2024


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 27 May 2025 and were signed by:





J Ward - Director


4WARD Group Ltd (Registered number: 11009548)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

4WARD Group Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 10% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

4WARD Group Ltd (Registered number: 11009548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 4,000
AMORTISATION
At 1 November 2023 2,000
Charge for year 400
At 31 October 2024 2,400
NET BOOK VALUE
At 31 October 2024 1,600
At 31 October 2023 2,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 1,203,255
Additions 298,801
At 31 October 2024 1,502,056
DEPRECIATION
At 1 November 2023 451,527
Charge for year 166,921
At 31 October 2024 618,448
NET BOOK VALUE
At 31 October 2024 883,608
At 31 October 2023 751,728

4WARD Group Ltd (Registered number: 11009548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. TANGIBLE FIXED ASSETS - continued

During the year, the Director has reconsidered the expected useful life of the company's computer software and has therefore decided to amend the depreciation policy to 10% on cost.

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 777,117
Additions 127,410
Transfer to ownership (111,929 )
At 31 October 2024 792,598
DEPRECIATION
At 1 November 2023 290,930
Charge for year 131,572
Transfer to ownership (77,709 )
At 31 October 2024 344,793
NET BOOK VALUE
At 31 October 2024 447,805
At 31 October 2023 486,187

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 100
NET BOOK VALUE
At 31 October 2024 100
At 31 October 2023 100

The investment in shares held in group undertakings represents 100% of the issued share capital of Wascle Limited (company number 10817137).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 770,196 669,090
Other debtors 232,763 146,531
1,002,959 815,621

4WARD Group Ltd (Registered number: 11009548)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts and finance leases 172,674 165,792
Trade creditors 172,759 165,077
Amounts owed to group undertakings 4,951 6,321
Taxation and social security 224,232 141,470
Other creditors 458,891 347,681
1,033,507 826,341

Other creditors above includes a debt of £317,844.18 (2023 - £228,776) due to Ultimate Finance in respect of the company's factoring arrangement.

The amount owed to group undertakings shown above of £4,951 relates to a loan due to the company's subsidiary company Wascle Limited at 31st October 2024.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts and finance leases 317,316 349,750
Other creditors 38,130 80,230
355,446 429,980

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 31.10.23
£    £   
Hire purchase contracts and finance leases 489,990 515,542