FOREBANK LIMITED

Company Registration Number:
SC157072 (Scotland)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

FOREBANK LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

FOREBANK LIMITED

Balance sheet

As at 31 December 2024


Notes
2024
2023


£
£
Fixed assets
Tangible assets: 3 1,440,893 1,506,516
Total fixed assets: 1,440,893 1,506,516
Current assets
Stocks: 1,726 1,726
Debtors:   204,176 448,964
Cash at bank and in hand: 101,048 29,375
Total current assets: 306,950 480,065
Creditors: amounts falling due within one year:   (850,775) (1,052,980)
Net current assets (liabilities): (543,825) (572,915)
Total assets less current liabilities: 897,068 933,601
Creditors: amounts falling due after more than one year:   (24,536) (39,961)
Total net assets (liabilities): 872,532 893,640
Capital and reserves
Called up share capital: 2 2
Other reserves: 310,500 310,500
Profit and loss account: 562,030 583,138
Shareholders funds: 872,532 893,640

The notes form part of these financial statements

FOREBANK LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 December 2025
and signed on behalf of the board by:

Name: D Douglas
Status: Director

The notes form part of these financial statements

FOREBANK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

Other accounting policies

Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference 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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares Borrowing costs All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred. Stocks Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

FOREBANK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 2023
Average number of employees during the period 89 88

FOREBANK LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible Assets

Total
Cost £
At 01 January 2024 2,220,946
At 31 December 2024 2,220,946
Depreciation
At 01 January 2024 714,430
Charge for year 65,623
At 31 December 2024 780,053
Net book value
At 31 December 2024 1,440,893
At 31 December 2023 1,506,516