2021-01-012021-12-312021-12-31false06771499FOUNDATION STONE (UK) 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FOUNDATION STONE (UK) LIMITED

Registered Number
06771499
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2021

FOUNDATION STONE (UK) LIMITED
Company Information
for the year from 1 January 2021 to 31 December 2021

Directors

LITTLE, Stuart James
LITTLE, Julie Alison

Registered Address

35 St Leonards Road
Northampton
NN4 8DL

Registered Number

06771499 (England and Wales)
FOUNDATION STONE (UK) LIMITED
Balance Sheet as at
31 December 2021

Notes

2021

2020

£

£

£

£

Fixed assets
Tangible assets61,3781,723
1,3781,723
Current assets
Stocks76,72610,857
Debtors81,4481,760
Cash at bank and on hand28,29451,966
36,46864,583
Creditors amounts falling due within one year9(19,267)(24,514)
Net current assets (liabilities)17,20140,069
Total assets less current liabilities18,57941,792
Creditors amounts falling due after one year10(17,836)(20,000)
Provisions for liabilities11(262)(327)
Net assets48121,465
Capital and reserves
Called up share capital100100
Profit and loss account38121,365
Shareholders' funds48121,465
The financial statements were approved and authorised for issue by the Board of Directors on 9 September 2022, and are signed on its behalf by:
LITTLE, Stuart James
Director
Registered Company No. 06771499
FOUNDATION STONE (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 December 2021

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principle activity of the business is surveyor.
4.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20212020
Average number of employees during the year22
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 January 214,9234,923
At 31 December 214,9234,923
Depreciation and impairment
At 01 January 213,2003,200
Charge for year345345
At 31 December 213,5453,545
Net book value
At 31 December 211,3781,378
At 31 December 201,7231,723
7.Stocks

2021

2020

££
Work in progress6,72610,857
Total6,72610,857
8.Debtors

2021

2020

££
Trade debtors / trade receivables510822
Other debtors938938
Total1,4481,760
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2021

2020

££
Trade creditors / trade payables151352
Taxation and social security12,27219,686
Other creditors4,5744,175
Accrued liabilities and deferred income2,270301
Total19,26724,514
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2021

2020

££
Bank borrowings and overdrafts17,83620,000
Total17,83620,000
11.Provisions for liabilities

2021

2020

££
Net deferred tax liability (asset)262327
Total262327