Company No: 11309210 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	29.05.2025		31.05.2024
		£		£
Fixed assets
Tangible assets	3	15,915		47,809
Investment property	4	2,450,000		2,450,000
Investments	5	2,204,644		2,204,644
		4,670,559		4,702,453
Current assets
Debtors	6	210,939		146,164
Cash at bank and in hand		789,220		1,163,070
		1,000,159		1,309,234
Creditors: amounts falling due within one year	7	( 454,679)		( 735,408)
Net current assets		545,480		573,826
Total assets less current liabilities		5,216,039		5,276,279
Creditors: amounts falling due after more than one year	8	( 2,390,472)		( 2,390,472)
Provision for liabilities		0		( 4,678)
Net assets		2,825,567		2,881,129
Capital and reserves
Called-up share capital		2,195,644		2,195,644
Profit and loss account		629,923		685,485
Total shareholders' funds		2,825,567		2,881,129

For the financial period ending 29 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 financial period in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Forty WP Management Services Limited (registered number: 11309210) were approved and authorised for issue by the Board of Directors on 18 May 2026. They were signed on its behalf by:

P Robson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Forty WP Management Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Shepherds Cottage, Adderstone Mains, Belford, NE70 7HS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	10 years straight line
Fixtures and fittings	5 years straight line
Computer equipment	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	Period from 01.06.2024 to 29.05.2025		Period from 30.05.2023 to 31.05.2024
	Number		Number
Monthly average number of persons employed by the Company during the period, including directors	3		2

3. Tangible assets

	Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£
Cost
At 01 June 2024	11,277		139,683		0		150,960
Additions	0		0		999		999
Disposals	( 11,277)		0		0		( 11,277)
At 29 May 2025	0		139,683		999		140,682
Accumulated depreciation
At 01 June 2024	3,947		99,204		0		103,151
Charge for the financial period	0		25,413		150		25,563
Disposals	( 3,947)		0		0		( 3,947)
At 29 May 2025	0		124,617		150		124,767
Net book value
At 29 May 2025	0		15,066		849		15,915
At 31 May 2024	7,330		40,479		0		47,809

4. Investment property

	Investment property
	£
Valuation
As at 01 June 2024	2,450,000
As at 29 May 2025	2,450,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at Sanderson Weatherall, Chartered Surveyors. The valuation was made on an open market value basis. In the opinion of the directors there is no difference between the market value and the book value of the investment properties. There has been no change in the valuation during the year.

5. Fixed asset investments

Investments in subsidiaries

	29.05.2025
	£
Cost
At 01 June 2024	2,204,644
At 29 May 2025	2,204,644
Carrying value at 29 May 2025	2,204,644
Carrying value at 31 May 2024	2,204,644

NAC Property Management Limited is a wholly owned subsidiary of the company and is engaged in the letting and operating of owned or leased real estate. The subsidiary continues to operate from its registered office at Shepherds Cottage, Adderstone Mains, Belford, Northumberland, NE70 7HS. The directors confirm that the company held 100% of the issued ordinary share capital of the subsidiary throughout the year. There have been no changes in the ownership structure, principal activities or registered address of the subsidiary during the period.

6. Debtors

	29.05.2025		31.05.2024
	£		£
Prepayments	210,939		146,164

7. Creditors: amounts falling due within one year

	29.05.2025		31.05.2024
	£		£
Amounts owed to directors	447,356		734,858
Accruals	3,950		0
Taxation and social security	423		550
Other creditors	2,950		0
	454,679		735,408

Amounts owed to directors are interest free and repayable on demand

8. Creditors: amounts falling due after more than one year

	29.05.2025		31.05.2024
	£		£
Amounts owed to own subsidiaries	2,390,472		2,390,472

Amounts owed to subsidiaries are interest free and repayable with 12 months notice.