1 March 2022 false No description of principal activity Taxfiler 2023.9 10597838business:PrivateLimitedCompanyLtd2022-03-012023-02-28 105978382022-02-28 105978382022-03-012023-02-28 10597838business:AuditExemptWithAccountantsReport2022-03-012023-02-28 10597838business:FilletedAccounts2022-03-012023-02-28 105978382023-02-28 10597838business:Director12022-03-012023-02-28 10597838business:RegisteredOffice2022-03-012023-02-28 105978382022-02-28 10597838core:WithinOneYear2023-02-28 10597838core:WithinOneYear2022-02-28 10597838core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 10597838core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 10597838core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 10597838core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 10597838core:PreviouslyStatedAmount2023-02-28 10597838core:PreviouslyStatedAmount2022-02-28 10597838business:SmallEntities2022-03-012023-02-28 10597838countries:EnglandWales2022-03-012023-02-28 10597838core:PlantMachinery2022-03-012023-02-28 10597838core:FurnitureFittings2022-02-28 10597838core:FurnitureFittings2022-03-012023-02-28 10597838core:FurnitureFittings2023-02-28 105978382021-03-012022-02-28 iso4217:GBP xbrli:pure
Company Registration No. 10597838 (England and Wales)
Foundry Lane Valeting Limited Unaudited accounts for the year ended 28 February 2023
Foundry Lane Valeting Limited Unaudited accounts Contents
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Foundry Lane Valeting Limited Company Information for the year ended 28 February 2023
Director
Drilon Alliu
Company Number
10597838 (England and Wales)
Registered Office
Apex House 2nd Floor Grand Arcade N12 0EH
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Foundry Lane Valeting Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,537 
1,275 
Current assets
Cash at bank and in hand
5,854 
37,034 
Creditors: amounts falling due within one year
(24,467)
(34,295)
Net current (liabilities)/assets
(18,613)
2,739 
Total assets less current liabilities
(1,076)
4,014 
Provisions for liabilities
Deferred tax
(242)
(242)
Net (liabilities)/assets
(1,318)
3,772 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(1,319)
3,771 
Shareholders' funds
(1,318)
3,772 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 September 2023 and were signed on its behalf by
Drilon Alliu Director Company Registration No. 10597838
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Foundry Lane Valeting Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Foundry Lane Valeting Limited is a private company, limited by shares, registered in England and Wales, registration number 10597838. The registered office is Apex House 2nd Floor , Grand Arcade, N12 0EH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line Method - 25%
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2022
2,720 
Additions
22,250 
At 28 February 2023
24,970 
Depreciation
At 1 March 2022
1,445 
Charge for the year
5,988 
At 28 February 2023
7,433 
Net book value
At 28 February 2023
17,537 
At 28 February 2022
1,275 
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Foundry Lane Valeting Limited Notes to the Accounts for the year ended 28 February 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
30,671 
41,618 
Taxes and social security
(352)
637 
Loans from directors
(6,872)
(8,440)
Accruals
1,020 
480 
24,467 
34,295 
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises
7
Loans to directors
During the year, director of the company owes £6,872 to the company.
8
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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