Company Registration No. 05967466 (England and Wales)
Forcefull Ltd
Unaudited accounts
for the year ended 31 October 2021
Forcefull Ltd
Unaudited accounts
Contents
Forcefull Ltd
Company Information
for the year ended 31 October 2021
Director
Abraham Schechter
Secretary
Debora Schechter
Company Number
05967466 (England and Wales)
Registered Office
15 St. Andrews Mews
London
N16 5HR
United Kingdom
Forcefull Ltd
Statement of financial position
as at 31 October 2021
Tangible assets
3,398
3,997
Investment property
1,973,699
1,823,699
Cash at bank and in hand
16,064
117,299
Creditors: amounts falling due within one year
(22,790)
(130,469)
Net current assets
325,935
43,991
Total assets less current liabilities
2,303,032
1,871,687
Creditors: amounts falling due after more than one year
(1,517,390)
(1,243,306)
Provisions for liabilities
Deferred tax
(111,124)
(82,624)
Net assets
674,518
545,757
Called up share capital
1
1
Profit and loss account
674,517
545,756
Shareholders' funds
674,518
545,757
For the year ending 31 October 2021 the company 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 July 2022 and were signed on its behalf by
Abraham Schechter
Director
Company Registration No. 05967466
Forcefull Ltd
Notes to the Accounts
for the year ended 31 October 2021
Forcefull Ltd is a private company, limited by shares, registered in England and Wales, registration number 05967466. The registered office is 15 St. Andrews Mews, London, N16 5HR, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance basis
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Forcefull Ltd
Notes to the Accounts
for the year ended 31 October 2021
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Total
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
6
Transactions with related parties
Included within debtors is an amount of £5,000 (2020:NIL) due from a company with a director in common with this company.
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Average number of employees
During the year the average number of employees was 1 (2020: 1).
