Forest Whitmore Ltd
Forest Whitmore Ltd
Registered number: 06432752
Financial Statements
For The Year Ended
31 March 2020
Gillespie's
Chartered Accountants
Forest Whitmore Ltd
Financial Statements
For The Year Ended
31 March 2020
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Forest Whitmore Ltd
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
06432752
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (380) | (655,477) | |||
Page 1
Forest Whitmore Ltd
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities:
-
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. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Forest Whitmore Ltd
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover 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.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2020 | 2019 | ||
|---|---|---|---|
| Office and administration |
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3.
Investments
| Other | |
|---|---|
| £ | |
| Cost | |
| As at
|
2,702,640 |
| Disposals | (2,702,507) |
| As at
|
133 |
| Provision | |
| As at
|
- |
| As at
|
- |
| Net Book Value | |
| As at
|
133 |
| As at
|
2,702,640 |
The company's investments at the Balance Sheet date in the share capital of company's include the following:
Forest Whitmore (Haringey) Ltd- 100% holding in the issued share capital of the company.
Page 3
Forest Whitmore Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
4.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| VAT | - |
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| Directors' loan accounts |
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- | |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Deferred Consideration |
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| Other Loans |
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| Amounts owed to subsidiaries |
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8.
Related Party Transactions
Amounts due to related parties consists of an amount equal to £0 (2019 £799,278) due to Greenheart Property Investments Limited and £0 (2019 £51,375) due to Millfield Property Developments Limited and £0 (2019 £1,443,594) due to Forest Whitmore (Haringey) Limited and £0 (2019 £18,200l) to 1st Class Lettings Ltd. The amount due is in respect of provision of finance, which is interest free and with no pre-determined term.
Forest Whitmore Limited is the parent company of Forest Whitmore (Haringey) Limited.
9.
Exceptional Items
The amounts reflect a credit arising from the waiver of inter-company balances. This arises as a result of a group exercise to rationalise historic inter-company positions as part of an exercise to ensure the group is appropriately structured for its future plans. No taxation results from the inter-company waiver.
10.
Ultimate Controlling Party
The company's ultimate controlling party are
Mr Azid Sohoye and Mr Daud Farooq
by virtue of their ownership of 100% of the issued share capital in the company.
Page 4
Forest Whitmore Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
11.
General Information
Forest Whitmore Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
06432752
. The registered office is 26 West Green Road, Tottenham, London, N15 5NP.
Page 5