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COMPANY REGISTRATION NUMBER: 14874146

Forge Guest Rooms Ltd

Filleted Unaudited Financial Statements

31 May 2025

Forge Guest Rooms Ltd

Statement of Financial Position

31 May 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 6,394 | 7,189

Current assets

Debtors | 6 | 2,121 |  | 933
Cash at bank and in hand | 2,400 |  | 511
| ------- |  | -------
| 4,521 |  | 1,444

Creditors: amounts falling due within one year | 7 | 9,519 |  | 12,231
| ------- |  | --------
Net current liabilities |  | 4,998 | 10,787
|  | ------- | --------
Total assets less current liabilities |  | 1,396 | ( 3,598)
|  | ------- | -------
Net assets/(liabilities) |  | 1,396 | ( 3,598)
|  | ------- | -------

Capital and reserves

Called up share capital |  | 2 | 2
Profit and loss account |  | 1,394 | ( 3,600)
|  | ------- | -------
Shareholders funds/(deficit) |  | 1,396 | ( 3,598)
|  | ------- | -------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Forge Guest Rooms Ltd

Statement of Financial Position (continued)

31 May 2025
These financial statements were approved by the board of directors and authorised for issue on 19 February 2026 , and are signed on behalf of the board by:

Mr G Scottorn
Director

Company registration number: 14874146

Forge Guest Rooms Ltd

Notes to the Financial Statements

Year ended 31 May 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 14 Main Street, Long Whatton, Loughborough, LE12 5DG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. In forming their view, they have considered a period of at least 12 months from the date of approval of the financial statements. The company incurred a loss for the period ended 31st May 2024 and has a deficiency of assets as at that date. In order to continue in operational existence as a going concern and meet its liabilities as they fall due, the company depends on funding from its directors. This funding has been agreed and the directors have confirmed they will not seek repayment of the interest free loan until such time as cash flow permits. The directors have prepared projected cash flow information for the forthcoming year and are satisfied that the company will be able to meet its obligations. In considering the longer term, the directors forecast that the company will become profitable. Profitability is dependent upon a number of factors both within and out of the company's control but the directors will always seek to increase income whilst reducing costs. Accordingly, the directors considers it appropriate to prepare the financial statements on a going concern basis. Should the assumptions above prove to be invalid, the going concern basis may be invalid and accordingly adjustments may have to be made to reduce the value of the assets to their realisable amounts, to provide for any further liabilities which might arise and to reclassify all fixed assets and any long term liabilities as current assets and liabilities respectively.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Tangible assets
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 accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Equipment | - | 15% straight line

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 3 ).
5. Tangible assets

| Equipment | Total
| £ | £
Cost |  |
At 1 June 2024 | 7,641 | 7,641
Additions | 383 | 383
| ------- | -------
At 31 May 2025 | 8,024 | 8,024
| ------- | -------
Depreciation |  |
At 1 June 2024 | 452 | 452
Charge for the year | 1,178 | 1,178
| ------- | -------
At 31 May 2025 | 1,630 | 1,630
| ------- | -------
Carrying amount |  |
At 31 May 2025 | 6,394 | 6,394
| ------- | -------
At 31 May 2024 | 7,189 | 7,189
| ------- | -------

6. Debtors

| 2025 | 2024
| £ | £
Other debtors | 2,121 | 933
| ------- | ----

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Social security and other taxes | – | 92
Other creditors | 9,519 | 12,139
| ------- | --------
| 9,519 | 12,231
| ------- | --------

8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| 2025
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr G Scottorn | ( 9,577) | 14,209 | ( 9,925) | ( 5,293)
|  | ------- | -------- | ------- | -------

| 2024
|  | Balance brought forward | Advances/ (credits) to the directors | Amounts repaid | Balance outstanding
|  | £ | £ | £ | £
| Mr G Scottorn | – | 11,319 | ( 20,896) | ( 9,577)
|  | ---- | -------- | -------- | -------

9. Related party transactions
During the year the company loaned £800 (2024: £Nil) to Ensign Mortgages and Investments Limited, a company under the common control of the directors. The amount due to the company at the balance sheet date was £800 (2024: £Nil). The company also made payments totalling £1,039 (2024: £Nil) to Trafalgar Estate Planning Ltd, a company under the common control of the directors. The amount due to the company at the balance sheet date was £1,039 (2024: £Nil).