FORESTRE_LIMITED - Accounts

FORESTRE LIMITED - Company Information

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Company Registration No. 04995829 (England and Wales)

FORESTRE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

FORESTRE LIMITED

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

FORESTRE LIMITED

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FORESTRE LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 3 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Forestre Limited for the year ended 31 December 2015 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Forestre Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Forestre Limited and state those matters that we have agreed to state to the Board of Directors of Forestre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Forestre Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Forestre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Forestre Limited. You consider that Forestre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Forestre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Morris & Co

2 September 2016

Accountants

Chester House

Lloyd Drive

Cheshire Oaks Business Park

Ellesmere Port

Cheshire

CH65 9HQ

FORESTRE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 2 -

2015

2014

Notes

Current assets

Debtors

48,119

36,774

Cash at bank and in hand

1,622

2,433

49,741

39,207

Creditors: amounts falling due within one year

(31,865)

(101,023)

Total assets less current liabilities

17,876

(61,816)

Capital and reserves

Called up share capital

1,406,190

1,337,500

Profit and loss account

(1,388,314)

(1,399,316)

Shareholders' funds

17,876

(61,816)

For the financial year ended 31 December 2015 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 year 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.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 August 2016

H M L Cottle

Director

Company Registration No. 04995829

FORESTRE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

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Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

As previously reported an arrangement was entered into on 1 October 2014 with Pardus Underwriting Limited which has resulted in Forestre Limited effectively selling its insurance brokerage business to this entity for them to pursue an expansion programme. The company continues to operate a consultancy business and may therefore have income from this source in the future. Whilst this does severely reduce its operations it does allow Forestre Limited to continue at this reduced level of operations for the foreseeable future.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the total amount receivable for insurance broking commissions earned in the normal course of business and consultancy fees, excluding value added tax, where applicable.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

Straight line over 3 years

Share capital

2015

2014

Allotted, called up and fully paid

1,406,190 Ordinary of £1 each

1,406,190

1,337,500

The share capital was increased by £68,690 during the year as shares of this value were allotted to H M L Cottle, a director, fully paid.