REGISTERED NUMBER: 03659164 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Forsyth Properties (UK) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J P Sweeney

SECRETARY:

Ms J Routledge

REGISTERED OFFICE:

17 Queens Lane

Newcastle upon Tyne

Tyne and Wear

NE1 1RN

REGISTERED NUMBER:

03659164 (England and Wales)

ACCOUNTANTS:

S&W Partners (Newcastle) Limited

17 Queens Lane

Newcastle upon Tyne

Tyne and Wear

NE1 1RN

FIXED ASSETS

Investments

5

942,709

118,609

Investment property

6

700,000

2,125,000

1,642,709

2,243,609

CURRENT ASSETS

Debtors

7

1,184

7,352

Cash at bank

130,921

15,082

132,105

22,434

CREDITORS

Amounts falling due within one year

8

(5,489

)

(10,406

)

NET CURRENT ASSETS

126,616

12,028

TOTAL ASSETS LESS CURRENT LIABILITIES

1,769,325

2,255,637

CREDITORS

Amounts falling due after more than one year

9

(278,096

)

(813,136

)

NET ASSETS

1,491,229

1,442,501

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

569,977

1,609,808

Profit and loss account

921,250

(167,309

)

SHAREHOLDERS' FUNDS

1,491,229

1,442,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 director and authorised for issue on 4 December 2025 and were signed by:

Mr J P Sweeney - Director

1.	STATUTORY INFORMATION

Forsyth Properties (UK) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the recognition of certain assets measured at fair value.

Rents receivable

Rents receivable are accounted for on an accruals basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit and loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair values of investments held at fair value through profit and loss at the balance sheet date are determined using quoted prices and available market data.

Investment property

Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account along with the associated deferred tax.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

118,609

Additions

765,001

Fair value movements

59,099

At 31 March 2025

942,709

NET BOOK VALUE

At 31 March 2025

942,709

At 31 March 2024

118,609

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,125,000

Additions

16,404

Disposals

(1,441,404

)

At 31 March 2025

700,000

NET BOOK VALUE

At 31 March 2025

700,000

At 31 March 2024

2,125,000

The fair value of the property at 31 March 2025 has been arrived at on the basis of a valuation carried out by a director whom is not a professional qualified valuer. The valuation, was arrived at by reference to market evidence of transaction prices for similar properties in their location.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

4,927

Other debtors

1,184

2,425

1,184

7,352

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

5,489

10,406

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

278,096

813,136

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

278,096

813,136

The bank loans are secured by fixed and floating charges over the company's properties.