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REGISTERED NUMBER: 11426101 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023

FOR

FOUNDRY TRAINING SERVICES LIMITED

FOUNDRY TRAINING SERVICES LIMITED (REGISTERED NUMBER: 11426101)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOUNDRY TRAINING SERVICES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023







DIRECTORS: J W Townsend
D Pritchard



REGISTERED OFFICE: National Foundry Training Centre
ECMS
Tipton Road
Tipton
West Midlands
DY4 7UW



REGISTERED NUMBER: 11426101 (England and Wales)



ACCOUNTANTS: Fields Business Advisors
Chartered Certified Accountants
2nd Floor
Landchard House
Victoria Street
West Bromwich
West Midlands
B70 8ER



BANKERS: Santander Bank
Bridle Road
Bootle
Merseyside
L30 4GB

FOUNDRY TRAINING SERVICES LIMITED (REGISTERED NUMBER: 11426101)

BALANCE SHEET
31ST MAY 2023

2023 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 1,181

CURRENT ASSETS
Debtors 6 1,518 69,747
Cash at bank 37,868 54,357
39,386 124,104
CREDITORS
Amounts falling due within one year 7 39,386 121,741
NET CURRENT ASSETS - 2,363
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

3,544

PROVISIONS FOR LIABILITIES - 224
NET ASSETS - 3,320

RESERVES
Income and expenditure account - 3,320
- 3,320

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 2023 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 surplus or deficit 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.

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 21st September 2023 and were signed on its behalf by:



J W Townsend - Director


FOUNDRY TRAINING SERVICES LIMITED (REGISTERED NUMBER: 11426101)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023

1. STATUTORY INFORMATION

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

The financial statements are prepared in sterling which is also the functional currency of the company and are rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as at the reporting date and the amounts reported for turnover and expenses during the period. The nature of estimating means that actual outcomes could differ from the original estimates.

The principal accounting policies and the judgements and estimates that have the most significant effect on amounts recognised in the financial statements are as detailed below.

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

Turnover is recognised when the relevant service or activity takes place.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 20% straight line

Financial instruments
The company only enters into basic financial instrument transactions, that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable. Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the period 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.


FOUNDRY TRAINING SERVICES LIMITED (REGISTERED NUMBER: 11426101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023

3. ACCOUNTING POLICIES - continued
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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Working capital has been provided by The Institute of Cast Metals Engineers (ICME) by way of a loan and is repayable on demand.

The Company has not adopted the going concern basis, which assumes that the company will continue in operation, as it ceased trading on 31st May 2023.

Company limited by guarantee
The company is limited by guarantee of members and does not have a share capital. The liability of members upon winding up of the company is limited to £1.

Frequency of reporting
Due to the cessation of trading as at 31 May 2023, the annual financial statements are presented for a period of 17 months. The comparative amounts presented in the financial statements (including the related notes) are for 12 months.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2021 - 1 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st January 2022 1,601
Additions 434
Disposals (2,035 )
At 31st May 2023 -
DEPRECIATION
At 1st January 2022 420
Eliminated on disposal (420 )
At 31st May 2023 -
NET BOOK VALUE
At 31st May 2023 -
At 31st December 2021 1,181

FOUNDRY TRAINING SERVICES LIMITED (REGISTERED NUMBER: 11426101)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST JANUARY 2022 TO 31ST MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade debtors - 56,630
Other debtors 1,518 13,117
1,518 69,747

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2021
£    £   
Trade creditors - 7,737
Taxation and social security - 556
Other creditors 39,386 113,448
39,386 121,741