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REGISTERED NUMBER: 11863282 (England and Wales)












FOSOLM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






FOSOLM LIMITED (REGISTERED NUMBER: 11863282)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOSOLM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: Mr M A Malcolm
Mr S Foster





REGISTERED OFFICE: College House
4 St Leonards Close
Bridgnorth
Shropshire
WV16 4EJ





REGISTERED NUMBER: 11863282 (England and Wales)





ACCOUNTANTS: Wallace Crooke Ltd
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

FOSOLM LIMITED (REGISTERED NUMBER: 11863282)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,390 9,758
Investment property 5 88,109 78,909
97,499 88,667

CURRENT ASSETS
Debtors 6 866 1,966
Cash at bank 57,230 38,874
58,096 40,840
CREDITORS
Amounts falling due within one year 7 65,128 56,878
NET CURRENT LIABILITIES (7,032 ) (16,038 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,467

72,629

CREDITORS
Amounts falling due after more than one
year

8

(72,692

)

(79,212

)

PROVISIONS FOR LIABILITIES 9 (3,988 ) -
NET ASSETS/(LIABILITIES) 13,787 (6,583 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 13,687 (6,683 )
SHAREHOLDERS' FUNDS 13,787 (6,583 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FOSOLM LIMITED (REGISTERED NUMBER: 11863282)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2022 and were signed on its behalf by:




Mr S Foster - Director



Mr M A Malcolm - Director


FOSOLM LIMITED (REGISTERED NUMBER: 11863282)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Fosolm Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on reducing balance
Website development - 10% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

FOSOLM LIMITED (REGISTERED NUMBER: 11863282)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Website
machinery fittings development Totals
£    £    £    £   
COST
At 1 April 2021 - 8,349 3,773 12,122
Additions 571 685 - 1,256
At 31 March 2022 571 9,034 3,773 13,378
DEPRECIATION
At 1 April 2021 - 1,987 377 2,364
Charge for year 189 1,057 378 1,624
At 31 March 2022 189 3,044 755 3,988
NET BOOK VALUE
At 31 March 2022 382 5,990 3,018 9,390
At 31 March 2021 - 6,362 3,396 9,758

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2021 78,909
Revaluations 9,200
At 31 March 2022 88,109
NET BOOK VALUE
At 31 March 2022 88,109
At 31 March 2021 78,909

Cost or valuation at 31 March 2022 is represented by:
£   
Valuation in 2021 78,909
Valuation in 2022 9,200
88,109

If the investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 75,909 75,909

The investment property was valued on an open market basis on 31 March 2021 by the directors .

FOSOLM LIMITED (REGISTERED NUMBER: 11863282)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 1,080
Other debtors 866 886
866 1,966

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 5,000 2,083
Taxation and social security 2,143 -
Other creditors 57,985 54,795
65,128 56,878

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 17,500 22,917
Other creditors 55,192 56,295
72,692 79,212

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,250

9. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 3,988 -

Deferred
tax
£   
Provided during year 3,988
Balance at 31 March 2022 3,988

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100