Registration number: 07022108

M Forshaw Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

M Forshaw Limited

Company Information

Directors

Mr M Forshaw Mr M M Forshaw

Registered office

15 Olympic Court Boardmans Way Whitehills Business Park Blackpool Lancashire FY4 5GU

Accountants

Horne Brooke Shenton 15 Olympic Court Boardmans Way, Whitehills Business Park Blackpool FY4 5GU

M Forshaw Limited

(Registration number: 07022108)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed Assets
Tangible Assets	5	826,373	862,737
Current assets
Stocks	6	17,028	37,985
Debtors	7	92,957	93,921
Cash at bank and in hand		411,302	343,962
		521,287	475,868
Creditors: Amounts falling due within one year	8	(68,094)	(75,405)
Net current assets		453,193	400,463
Total assets less current liabilities		1,279,566	1,263,200
Creditors: Amounts falling due after more than one year	8	(207,749)	(216,129)
Provisions for liabilities		(206,103)	(215,156)
Net assets		865,714	831,915
Capital and Reserves
Called up share capital	9	100	100
Retained Earnings		865,614	831,815
Shareholders' funds		865,714	831,915

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.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

M Forshaw Limited

(Registration number: 07022108)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 25 September 2025 and signed on its behalf by:
 

......................................... Mr M Forshaw Director

M Forshaw Limited

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:
15 Olympic Court
Boardmans Way
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

The principal place of business is:
Moss Lea
Horns Lane
Goosnargh
Preston
Lancashire
PR3 2NE

These financial statements were authorised for issue by the Board on 25 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tax

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.

M Forshaw Limited

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

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.

Depreciation

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.

Asset class	Depreciation method and rate
Leasehold property and improvements	4% on cost
Plant and machinery	15% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment	33% on cost

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Leases

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.

Defined contribution pension obligation

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.

M Forshaw Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	18,000	18,000
At 31 December 2024	18,000	18,000
Amortisation
At 1 January 2024	18,000	18,000
At 31 December 2024	18,000	18,000
Carrying amount
At 31 December 2024	-	-

M Forshaw Limited

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

6

Stocks

	2024 £	2023 £
Work in progress	13,508	34,465
Other inventories	3,520	3,520
	17,028	37,985

7

Debtors

Current	2024 £	2023 £
Trade Debtors	80,143	68,298
Prepayments	12,521	12,714
VAT	293	12,909
	92,957	93,921

M Forshaw Limited

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

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
HP and finance lease liabilities	10	7,607	7,607
Trade Creditors		19,428	45,122
Corporation tax control		31,849	15,623
Accruals and deferred income		4,395	3,905
Credit card account		25	12
PAYE and NIC		4,790	3,136
		68,094	75,405

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Directors loan account	10	149,226	149,999
HP and finance lease liabilities		58,523	66,130
		207,749	216,129

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

M Forshaw Limited

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

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	58,523	66,130
Other borrowings	149,226	149,999
	207,749	216,129

Current loans and borrowings

	2024 £	2023 £
Hire purchase contracts	7,607	7,607

11	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2024 £	2023 £
Not later than one year	23,542	21,042
Later than one year and not later than five years	89,583	98,542
Later than five years	-	14,583
	113,125	134,167

The amount of non-cancellable operating lease payments recognised as an expense during the year was £24,113 (2023 - £16,338).

12

Dividends

		2024 £		2023 £
Dividends paid		41,000		43,000