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Registered number: 08926938 FORWARD MOVEMENT LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FORWARD MOVEMENT LIMITED REGISTERED NUMBER:08926938
BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,835,729 |  | 1,823,806
Investments | 5 |  | - |  | 1
|  |  | 1,835,729 |  | 1,823,807
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 840,333 |  | 1,464,206 |
Cash at bank | 7 | 23,765 |  | 313,105 |
|  | 864,098 |  | 1,777,311 |
Creditors: amounts falling due within one year | 8 | (391,687) |  | (1,229,767) |
Net current assets |  |  | 472,411 |  | 547,544
Total assets less current liabilities |  |  | 2,308,140 |  | 2,371,351
Creditors: amounts falling due after more than one year | 9 |  | (662,859) |  | (697,127)
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (76,836) |  | (69,993) |
|  |  | (76,836) |  | (69,993)
Net assets |  |  | 1,568,445 |  | 1,604,231
Capital and reserves |  |  |  |  |
Called up share capital | 12 |  | 56 |  | 56
Profit and loss account |  |  | 1,568,389 |  | 1,604,175
|  |  | 1,568,445 |  | 1,604,231
Page 1
FORWARD MOVEMENT LIMITED REGISTERED NUMBER:08926938
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A M Banjo
Director
Date: 17 February 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
Forward Movement Limited is a private company, limited by shares, registered in England and Wales, registration number 08926938. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal activity of the company continued to be that of performing arts. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and Companies Act 2006.
| 2.2 | Exemption from preparing consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small - sized group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.
| 2.3 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from performing arts activities is recognised when it is probable the company will receive the rights to the consideration due under the contract. Income from performances are recognised once the performances have taken place. Recharged income represents the re-imbursement of an agreed proportion of costs incurred by the company. Merchandise income is recognised net of cost when received.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Page 3
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.7 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.9 | Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.11 | Financial instruments
The company enters into basic financial instrument transactions that result in the recongnition of financial assets and liabilities such as trade and other debtors, trade and other creditos, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 4
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.13 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.14 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - |  | No depreciation
|  |  |  | Plant and machinery | - | 25% | reducing Balance
|  |  |  | Fixtures and fittings | - | 25% | reducing Balance
|  |  |  | Computer equipment | - | 25% | reducing Balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. The director has determined that the residual value of the freehold property held is not materially different to its net book value, thus the depreciation charge for the year is £NIL.
3. | Employees
The average monthly number of employees, including the director, during the year was 12 (2024 - 12). Page 5
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost |  |  |  |  |
| At 1 April 2024 | 1,791,685 | 17,567 | 69,621 | 13,260 | 1,892,133
| Additions | 6,290 | 10,566 | 3,469 | 3,333 | 23,658
| At 31 March 2025 | 1,797,975 | 28,133 | 73,090 | 16,593 | 1,915,791
| Depreciation |  |  |  |  |
| At 1 April 2024 | - | 9,331 | 51,531 | 7,466 | 68,328
| Charge for the year | - | 3,276 | 6,707 | 1,751 | 11,734
| At 31 March 2025 | - | 12,607 | 58,238 | 9,217 | 80,062
| Net book value |  |  |  |  |
| At 31 March 2025 | 1,797,975 | 15,526 | 14,852 | 7,376 | 1,835,729
| At 31 March 2024 | 1,791,685 | 8,236 | 18,091 | 5,795 | 1,823,807
5. | Fixed asset investments
|  | Investment in a subsidiary company
|  | £
| Cost |
| At 1 April 2024 | 1
| Amounts written off | (1)
| At 31 March 2025 | -
Page 6
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 49,805 | 63,903
| Amounts owed by group undertakings | 34,943 | 128,039
| Other debtors | 723,707 | 530,206
| Prepayments and accrued income | 31,878 | 742,058
|  | 840,333 | 1,464,206
7. | Cash
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank | 23,765 | 313,105
8. | Creditors: amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 35,693 | 35,693
| Trade creditors | 71,005 | 544,301
| Corporation tax | 77,021 | 189,635
| Other taxation and social security | 33,574 | 48,316
| Other creditors | 71,224 | 122,985
| Accruals and deferred income | 103,170 | 288,837
|  | 391,687 | 1,229,767
| The bank loan £35,693 (2024 - £35,693) is secured by a fixed and floating charge over the freehold property held in the company.
9. | Creditors: amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 662,859 | 697,127
| The bank loan £662,859 (2024 - £697,127) is secured by a fixed and floating charge over the freehold property held in the company.
Page 7
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 35,693 | 35,693
| Amounts falling due 1-2 years |  |
| Bank loans | 35,693 | 35,693
| Amounts falling due 2-5 years |  |
| Bank loans | 107,079 | 107,079
| Amounts falling due after more than 5 years |  |
| Bank loans | 520,087 | 554,355
|  | 698,552 | 732,820
11. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 69,993
| Charged to profit or loss | 6,843
| At end of year | 76,836
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixed assets timing differences | 77,090 | 70,474
| Short term timing differences | (254) | (481)
|  | 76,836 | 69,993
12. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 56 (2024 - 56) ordinary shares of £1 each | 56 | 56
Page 8
FORWARD MOVEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,207 (2024 -£9,364). Contributions totalling £2,365 (2024 - £1,924) were payable to the fund at the balance sheet date and are included in creditors.
14. | Transactions with the director
As at the year end, the director owed £23,293 to the company (2024 - £30,757 was owed by the company to the director). This loan is unsecured, repayable on demand and the interest has charged at the official rate.
15. | Related party transactions
| No disclosure has been made of transactions with wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.
Page 9