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FORGED ON THE LEVELS LTD
Unaudited Financial Statements
for the year ended 31 October 2025
Company registration number 13686928
(England and Wales)

# Company Information

For the year ended 31 October 2025

Directors | Gorman, Victoria Louise
| Gorman, Paul David

Registered office | Walker House
| Market Place
| Somerton
| TA11 7LZ

Registered number | 13686928

Accountant | Blue Lias Accounting Limited
| Walker House
| Market Place
| Somerton
| Somerset
| TA11 7LZ

# Statement of Financial Position

As at 31 October 2025

| Notes |
2025
2024
£
£
£
£
Fixed assets
Tangible assets
| 4 |
5,024
811
5,024
811
Current assets
Stocks
| 5 |
384
325
Debtors
| 6 |
531
370
Cash at bank and in hand
1,051
178
1,966
873
Creditors
Amounts falling due within one year
(10,772)
(7,250)
(10,772)
(7,250)
Net current assets (liabilities)
(8,806)
(6,377)
Total assets less current liabilities
(3,782)
(5,566)
Net assets (liabilities)
(3,782)
(5,566)
Capital and reserves
Called up share capital
| 7 |
2
2
Profit and loss account
(3,784)
(5,568)
Total equity
(3,782)
(5,566)

The company is a private company limited by shares and registered in England and Wales. It was entitled to exemption from audit 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 financial statements.
The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company's profit and loss account under section 444 (5A) of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 13 May 2026 and are signed on its behalf by:

Gorman, Paul David Gorman, Paul David Director |

Company registration number 13686928

# Notes to the Financial Statements

For the year ended 31 October 2025

### 1. Statutory information

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

The financial statements are presented in sterling and this is the functional currency of the company.

### 2. Accounting policies

### 2.1. Basis of preparation

The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.

### 2.2. Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

### 2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

### 2.4. Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Rate
Method
%
Plant and machinery
25
Reducing balance

### 2.5. Stocks and work in progress

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If an item of inventory is impaired, the carrying amount is reduced to its selling price less costs to complete and sell, and the impairment loss is recognised immediately in the income statement. When inventories are sold, the carrying amount is recognised as an expense in the period in which the related revenue is recognised.

For long-term contracts where the company provides services or bespoke goods, work in progress is recognised as a contract asset. These are measured by reference to the stage of completion of the contract activity at the reporting date, based on the progress made towards the complete satisfaction of the performance obligations.

### 2.6. Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

### 2.7. Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

### 2.8. Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

### 3. Employees

The average number of employees during the year was 1 (2024: 1).

### 4. Tangible fixed assets

Plant and machinery
Total
£
£
Cost
At 1 November 2024
1,513
1,513
Additions
5,887
5,887
At 31 October 2025
7,400
7,400
Depreciation and impairment
At 1 November 2024
702
702
Charge for the period
1,674
1,674
At 31 October 2025
2,376
2,376
Net book value
At 31 October 2025
5,024
5,024
At 31 October 2024
811
811

### 5. Stocks and work in progress

2025
2024
£
£
Other stocks
384
325
Total
384
325

### 6. Debtors

2025
2024
£
£
Trade debtors
520
370
Prepayments and accrued income
11
-
Total due within one year
531
370
Total due after one year
-
-
Total
531
370

### 7. Share capital

2025
2024
£
£
Allotted, called up and fully paid
Ordinary Shares
2
2
Total
2
2