Registration number: 09671061

Forster Place Apartments Ltd

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Forster Place Apartments Ltd

Company Information

Director

Mr H Patel

Company secretary

Mr B McDonald

Registered office

1 Bond Street Colne Lancashire BB8 9DG

Accountants

Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Forster Place Apartments Ltd
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Forster Place Apartments Ltd for the year ended 31 December 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Forster Place Apartments Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Forster Place Apartments Ltd and state those matters that we have agreed to state to the Board of Directors of Forster Place Apartments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forster Place Apartments Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Forster Place Apartments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Forster Place Apartments Ltd. You consider that Forster Place Apartments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Forster Place Apartments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

10 September 2025

Forster Place Apartments Ltd

(Registration number: 09671061)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	2,710,392	2,776,524
Current assets
Debtors	5	74,872	23,465
Cash at bank and in hand		295,425	169,542
		370,297	193,007
Creditors: Amounts falling due within one year	6	(2,267,949)	(2,321,622)
Net current liabilities		(1,897,652)	(2,128,615)
Net assets		812,740	647,909
Capital and reserves
Called up share capital		1,000	1,000
Retained earnings		811,740	646,909
Shareholders' funds		812,740	647,909

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 September 2025
 

......................................... Mr H Patel Director

Forster Place Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Bond Street
Colne
Lancashire
BB8 9DG

These financial statements were authorised for issue by the director on 10 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Forster Place Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line
Furniture, fittings and equipment	20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Forster Place Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 1).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	3,277,592	227,364	3,504,956
At 31 December 2024	3,277,592	227,364	3,504,956
Depreciation
At 1 January 2024	502,580	225,852	728,432
Charge for the year	65,556	576	66,132
At 31 December 2024	568,136	226,428	794,564
Carrying amount
At 31 December 2024	2,709,456	936	2,710,392
At 31 December 2023	2,775,012	1,512	2,776,524

Included within the net book value of land and buildings above is £2,709,456 (2023 - £2,775,012) in respect of freehold land and buildings.
 

5

Debtors

	Note	2024 £	2023 £
Trade debtors		1,145	1,684
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	44,770	240
Prepayments		9,885	7,467
Other debtors		19,072	14,074
		74,872	23,465

Forster Place Apartments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		2,614	1,916
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	2,062,110	2,122,881
Taxation and social security		76,398	68,878
Accruals and deferred income		5,750	5,375
Other creditors		121,077	122,572
		2,267,949	2,321,622

7	Related party transactions

Summary of transactions with parent

Forster Place (Bradford) Limited (immediate parent)
 
Forster Place (Bradford) Limited continued to advance loan facilities to Forster Place Apartments Ltd. The loan of £2,062,110 (2023 - £2,061,835) has been classed as a creditor due for payment within one year.
 
Sheeva Properties (UK) Limited (ultimate parent)

Forster Place Apartments Ltd advanced loan facilities of £41,036 to Sheeva Properties (UK) Limited. In the prior year £61,046 was owed by Forster Place Apartments Ltd to Sheeva Properties (UK) Limited.
 

8	Parent and ultimate parent undertaking

The company's immediate parent is Forster Place (Bradford) Limited, incorporated in England and Wales.

 The ultimate parent is Sheeva Properties UK Limited, incorporated in England and Wales.