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REGISTERED NUMBER: 01591882 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Forbes Group Limited

Forbes Group Limited (Registered number: 01591882)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Forbes Group Limited

Company Information
for the year ended 31 December 2024







Directors: C N F Graville
Ms L M Castle





Registered office: Forbes Building
Glendower Road
Leominster
Herefordshire
HR6 0RL





Registered number: 01591882 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Trading Estate
Hereford
Herefordshire
HR1 2SF

Forbes Group Limited (Registered number: 01591882)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 351,960 214,433
Investments 6 202 202
352,162 214,635

CURRENT ASSETS
Stocks 133,022 181,698
Debtors 7 293,206 265,345
Cash at bank and in hand 377,591 332,117
803,819 779,160
CREDITORS
Amounts falling due within one year 8 (572,936 ) (467,760 )
NET CURRENT ASSETS 230,883 311,400
TOTAL ASSETS LESS CURRENT
LIABILITIES

583,045

526,035

CAPITAL AND RESERVES
Called up share capital 11 7,140 7,140
Share premium 244,201 244,201
Capital redemption reserve 3,060 3,060
Retained earnings 328,644 271,634
SHAREHOLDERS' FUNDS 583,045 526,035

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

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

The directors acknowledge their 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.

Forbes Group Limited (Registered number: 01591882)

Balance Sheet - continued
31 December 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2025 and were signed on its behalf by:





C N F Graville - Director


Forbes Group Limited (Registered number: 01591882)

Notes to the Financial Statements
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Forbes Group 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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.
Freehold property - 2% on cost
Long leasehold - Over the period of the lease
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement. They are classified as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Forbes Group Limited (Registered number: 01591882)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 21 ) .

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
Cost
At 1 January 2024 201,789 51,928 269,056
Additions 126,354 - -
At 31 December 2024 328,143 51,928 269,056
Depreciation
At 1 January 2024 68,719 14,679 267,816
Charge for year 5,963 618 310
At 31 December 2024 74,682 15,297 268,126
Net book value
At 31 December 2024 253,461 36,631 930
At 31 December 2023 133,070 37,249 1,240

Forbes Group Limited (Registered number: 01591882)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 January 2024 91,183 18,455 632,411
Additions 38,349 - 164,703
At 31 December 2024 129,532 18,455 797,114
Depreciation
At 1 January 2024 49,596 17,168 417,978
Charge for year 19,964 321 27,176
At 31 December 2024 69,560 17,489 445,154
Net book value
At 31 December 2024 59,972 966 351,960
At 31 December 2023 41,587 1,287 214,433

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 January 2024
and 31 December 2024 202
Net book value
At 31 December 2024 202
At 31 December 2023 202

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 220,369 153,593
Other debtors 72,837 111,752
293,206 265,345

Forbes Group Limited (Registered number: 01591882)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 253,736 27,384
Trade creditors 141,461 85,721
Taxation and social security 59,598 66,130
Other creditors 118,141 288,525
572,936 467,760

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 13,771 14,132
Between one and five years 45,157 50,030
In more than five years 524,300 534,100
583,228 598,262

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 253,736 27,384

C N F Graville has provided a personal guarantee of £30,000 over the bank borrowings.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
7,140 Ordinary shares £1 7,140 7,140