Company Registration No. 14330925 (England and Wales)
FORBES FAMILY GROUP FOUNDATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FORBES FAMILY GROUP FOUNDATION
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FORBES FAMILY GROUP FOUNDATION
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
20,000
-
0
Cash at bank and in hand
51,749
7,459
71,749
7,459
Creditors: amounts falling due within one year
4
(52,935)
(22,100)
Net current assets/(liabilities)
18,814
(14,641)
Reserves
Income and expenditure account
18,814
(14,641)
Members' funds
18,814
(14,641)

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 4 November 2025 and are signed on its behalf by:
Dean Forbes
Director
Company Registration No. 14330925
FORBES FAMILY GROUP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Forbes Family Group Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Acre House, 11-15 William Road, London, United Kingdom, NW1 3ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets, includes cash in hand and deposits held at call with banks.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities including other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

FORBES FAMILY GROUP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation

The tax expense represents the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6

Comparative period

The accounts relate to the year ended 30 September 2024. The comparative figures are for the period from 1 September 2022 (date of incorporation) to 30 September 2023.

2
Employees

There were no employees during the current year or previous period.

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
20,000
-
0
4
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,681
-
0
Other creditors
45,854
20,000
Accruals
2,400
2,100
52,935
22,100

Other creditors includes an amount of £5,120 (2023: £20,000) due to the directors of the company and it is repayable on demand.

5
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

FORBES FAMILY GROUP FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
6
Related party transactions

At the balance sheet date, included in other debtors, is an amount of £20,000 (2023: £nil) owed to the company by Forbes Family Group Investments Ltd, a company under common control.

At the balance sheet date, Included in other creditors, is an amount of £40,734 (2023: £nil) owed to Forbes Family Group Ltd, a company under common control.

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