Forbidden Forest Master Limited Filleted accounts for Companies House (small and micro)

FORBIDDEN FOREST MASTER LTD - Company Information

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COMPANY REGISTRATION NUMBER: 13642347

Forbidden Forest Master Limited

Filleted Unaudited Financial Statements

3 July 2023

Forbidden Forest Master Limited

Financial Statements

Period from 1 October 2022 to 3 July 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Forbidden Forest Master Limited

Statement of Financial Position

3 July 2023

	3 Jul 23		30 Sep 22
Note	£	£	£	£

Fixed assets

Intangible assets	4	425,000	300,000
Investments	5	934	868
		---------	---------
		425,934	300,868

Current assets

Debtors	6	8,520	–
Cash at bank and in hand		1,775	1,000
		--------	-------
		10,295	1,000

Creditors: amounts falling due within one year	7	216,104		300,868
		---------		---------
Net current liabilities			205,809		299,868
			---------		---------
Total assets less current liabilities			220,125		1,000

Creditors: amounts falling due after more than one year	8	195,952	–
		---------	-------
Net assets		24,173	1,000
		---------	-------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	23,173	–
	--------	-------
Shareholders funds	24,173	1,000
	--------	-------

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 period ending 3 July 2023 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 period 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 .

Forbidden Forest Master Limited

Statement of Financial Position (continued)

3 July 2023

These financial statements were approved by the board of directors and authorised for issue on 10 July 2023 , and are signed on behalf of the board by:

Mr J. Cohen

Director

Company registration number: 13642347

Forbidden Forest Master Limited

Notes to the Financial Statements

Period from 1 October 2022 to 3 July 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Victoria Warehouse, Trafford Wharf Road, Manchester, M17 1AB, United Kingdom.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Intangible assets

	Intellectual property
	£
Cost
At 1 October 2022	300,000
Additions	125,000
	---------
At 3 July 2023	425,000
	---------
Amortisation
At 1 October 2022 and 3 July 2023	–
	---------
Carrying amount
At 3 July 2023	425,000
	---------
At 30 September 2022	300,000
	---------

5. Investments

	Shares in group undertakings
	£
Cost
At 1 October 2022	868
Additions	66
	----
At 3 July 2023	934
	----
Impairment
At 1 October 2022 and 3 July 2023	–
	----

Carrying amount
At 3 July 2023	934
	----
At 30 September 2022	868
	----

6. Debtors

	3 Jul 23	30 Sep 22
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7,520	–
Other debtors	1,000	–
	-------	----
	8,520	–
	-------	----

7. Creditors: amounts falling due within one year

	3 Jul 23	30 Sep 22
	£	£
Bank loans and overdrafts	84,048	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	300,000
Social security and other taxes	6,122	–
Other creditors	125,934	868
	---------	---------
	216,104	300,868
	---------	---------

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

	3 Jul 23	30 Sep 22
	£	£
Bank loans and overdrafts	195,952	–
	---------	----

9. Controlling party

The company is a subsidiary of Festivals Master Limited, a company incorporated in the United Kingdom