REGISTERED NUMBER: SC143462 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Changeforge Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R G Morrison

REGISTERED OFFICE:

30 A Newton Road

St Fergus

Peterhead

Aberdeenshire

AB42 3DD

REGISTERED NUMBER:

SC143462 (Scotland)

ACCOUNTANTS:

SBP

Accountants

Glebefield House

21 Links Terrace

Peterhead

Aberdeenshire

AB42 2XA

FIXED ASSETS

Tangible assets

4

-

383,753

Investments

5

2

2

Investment property

6

383,753

-

383,755

383,755

CURRENT ASSETS

Debtors

7

364,111

364,111

Cash at bank

26

26

364,137

364,137

CREDITORS

Amounts falling due within one year

8

428,147

418,486

NET CURRENT LIABILITIES

(64,010

)

(54,349

)

TOTAL ASSETS LESS CURRENT LIABILITIES

319,745

329,406

CREDITORS

Amounts falling due after more than one year

9

31,654

34,340

NET ASSETS

288,091

295,066

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Retained earnings

88,091

95,066

SHAREHOLDERS' FUNDS

288,091

295,066

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 December 2025 and were signed by:

Mr R G Morrison - Director

1.	STATUTORY INFORMATION

Changeforge Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current 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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2024

518,585

Reclassification/transfer

(518,585

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

134,832

Reclassification/transfer

(134,832

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

383,753

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

2

NET BOOK VALUE

At 31 March 2025

2

At 31 March 2024

2

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

383,753

At 31 March 2025

383,753

NET BOOK VALUE

At 31 March 2025

383,753

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

364,111

364,111

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

3,009

2,878

Trade creditors

300

1,110

Taxation and social security

18,914

18,914

Other creditors

405,924

395,584

428,147

418,486

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

31,654

34,340

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

15,068

19,188

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

34,663

37,218

11.	RELATED PARTY DISCLOSURES

Rodger Morrison, the director of Changeforge Ltd, is also a director and person of significant control in the following businesses.

Cock & Bull Country Inns Ltd

The amount owed by Changeforge Ltd to Cock & Bull Country Inns Ltd as at 31st March 2025 was £33,991 (2024 - £27,314).

Cock & Bull Country Inns Ltd occupies and operates from property that is owned by Changeforge Ltd, the parent company. No rental charges were incurred by Cock & Bull Country Inns Ltd for the use of this property during the year.

Rodger Morrison Holdings Ltd

The amount owed by Changeforge Ltd to Rodger Morrison Holdings Ltd as at 31st March 2025 was £207,514 (2024 - £207,514).

Davidson Properties Ltd

The amount owed by Changeforge Ltd to Davidson Properties Ltd as at 31st March 2025 was £17,000 (2024 - £17,000).

Rodger Morrison Catering Ltd

The amount owed to Changeforge Ltd from Rodger Morrison Catering Ltd as at 31st March 2025 was £29,200 (2024 - £29,200).

Fulmor One Ltd

The amount owed to Changeforge Ltd from Fulmor One Ltd as at 31st March 2025 was £334,911 (2024 - £334,911).

No interest has been charged on any inter-company loans.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R G Morrison.