Forster Place (Bradford) Limited - Period Ending 2021-12-31

Forster Place (Bradford) Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Forster Place (Bradford) Limited

Company Information

Director

Mr H Patel

Company secretary

Mr B McDonald

Registered office

Alpha House, 96 City Road, Bradford, West Yorkshire. BD8 8ES

Accountants

Hargreaves Brown & Benson Chartered Accountants 1 Bond Street Colne Lancashire BB8 9DG

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Forster Place (Bradford) Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Forster Place (Bradford) Limited for the year ended 31 December 2021 as 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Forster Place (Bradford) Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Forster Place (Bradford) Limited and state those matters that we have agreed to state to the Board of Directors of Forster Place (Bradford) 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 Forster Place (Bradford) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Forster Place (Bradford) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Forster Place (Bradford) Limited. You consider that Forster Place (Bradford) 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 accounts of Forster Place (Bradford) 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 accounts.

......................................

Hargreaves Brown & Benson
Chartered Accountants
1 Bond Street
Colne
Lancashire
BB8 9DG

28 September 2022

Forster Place (Bradford) Limited

(Registration number: 08159781)
Balance Sheet as at 31 December 2021

	Note	2021 £	2020 £
Fixed assets
Investments	4	1,000	1,000
Current assets
Debtors	5	2,076,203	2,075,974
Cash at bank and in hand		3,612	4,987
		2,079,815	2,080,961
Creditors: Amounts falling due within one year	6	(151,072)	(151,252)
Net current assets		1,928,743	1,929,709
Net assets		1,929,743	1,930,709
Capital and reserves
Called up share capital		2,500	2,500
Share premium reserve		1,998,500	1,998,500
Profit and loss account		(71,257)	(70,291)
Shareholders' funds		1,929,743	1,930,709

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 September 2022
 

......................................... Mr H Patel Director

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alpha House,
96 City Road,
Bradford,
West Yorkshire.
BD8 8ES

These financial statements were authorised for issue by the director on 28 September 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the cost purchase method. The consideration for each acquisition is measured at the nominal value at acquisition date of assets given, liabilities incurred or assumed.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2020 - 1).

4	Investments

	2021 £	2020 £
Investments in subsidiaries	1,000	1,000

Subsidiaries	£
Cost or valuation
At 1 January 2021	1,000
Provision
Carrying amount
At 31 December 2021	1,000
At 31 December 2020	1,000

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2021	2020
Subsidiary undertakings
Forster Place Apartments Limited	England and Wales	Ordinary	100%	100%

Forster Place Apartments Limited

The principal activity of Forster Place Apartments Limited is the letting and operating of real estate. The aggregate amount of capital and reserves at the end of the period was £341,383 (2020 - £261,841).

 

5

Debtors

	Note	2021 £	2020 £
Trade debtors		4,368	4,368
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	2,061,741	2,061,218
Other debtors		10,094	10,388
		2,076,203	2,075,974

Forster Place (Bradford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Accruals and deferred income	1,260	1,440
Other creditors	149,812	149,812
	151,072	151,252

7	Related party transactions

Summary of transactions with all subsidiaries

Forster Place Apartments Ltd
 
The company continued to provide loan facilities to Forster Place Apartments Ltd.
 
The loan of £2,061,741 (2020 - £2,061,218) has been classed as a debtor repayable within one year.
 

Summary of transactions with other related parties

Forster Place (Bradford) Limited
 
Amsgro Limited continued to advance loan facilities of £149,812 (2020 - £149,812) to Forster Place (Bradford) Limited. The loan is repayable on demand and is classed as a creditor repayable within one year.
 

8	Parent and ultimate parent undertaking

The company's immediate parent is Sheeva Properties UK Ltd , incorporated in England and Wales.