Foil Energy Limited 10628340 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is other engineering activities. Digita Accounts Production Advanced 6.30.9574.0 true true 10628340 2022-03-01 2023-02-28 10628340 2023-02-28 10628340 core:CurrentFinancialInstruments 2023-02-28 10628340 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 10628340 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 10628340 core:OtherPropertyPlantEquipment 2023-02-28 10628340 bus:SmallEntities 2022-03-01 2023-02-28 10628340 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 10628340 bus:FullAccounts 2022-03-01 2023-02-28 10628340 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 10628340 bus:RegisteredOffice 2022-03-01 2023-02-28 10628340 bus:Director1 2022-03-01 2023-02-28 10628340 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10628340 bus:Agent1 2022-03-01 2023-02-28 10628340 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 10628340 core:PlantMachinery 2022-03-01 2023-02-28 10628340 countries:England 2022-03-01 2023-02-28 10628340 2022-02-28 10628340 core:OtherPropertyPlantEquipment 2022-02-28 10628340 2021-03-01 2022-02-28 10628340 2022-02-28 10628340 core:CurrentFinancialInstruments 2022-02-28 10628340 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 10628340 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 10628340 core:OtherPropertyPlantEquipment 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 10628340

Foil Energy Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Foil Energy Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Foil Energy Limited

Company Information

Director

Mr D Irving

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Foil Energy Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Foil Energy Limited for the year ended 28 February 2023 as set out on pages 3 to 6 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 Foil Energy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Foil Energy Limited and state those matters that we have agreed to state to the Board of Directors of Foil Energy 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 Foil Energy Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Foil Energy 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 profit of Foil Energy Limited. You consider that Foil Energy 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 Foil Energy 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.

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

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

2 October 2023

 

Foil Energy Limited

(Registration number: 10628340)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

492

61

Current assets

 

Debtors

369

369

Cash at bank and in hand

 

14,345

11,120

 

14,714

11,489

Creditors: Amounts falling due within one year

5

(9,405)

(8,849)

Net current assets

 

5,309

2,640

Total assets less current liabilities

 

5,801

2,701

Creditors: Amounts falling due after more than one year

5

(14,727)

(14,330)

Net liabilities

 

(8,926)

(11,629)

Capital and reserves

 

Called up share capital

50

50

Retained earnings

(8,976)

(11,679)

Shareholders' deficit

 

(8,926)

(11,629)

For the financial 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.

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 9 October 2023
 

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

Mr D Irving

Director

 

Foil Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The 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.
 

Going concern

The accounts have been prepared on a going concern basis as the directors continue to provide financial support when necessary to the company. The directors have also reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and will show positive results for the next financial period.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Foil Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Asset class

Depreciation method and rate

Plant & equipment

25% reducing balance

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Foil Energy Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Plant & equipment
 £

Total
£

Cost or valuation

At 1 March 2022

260

260

Additions

595

595

At 28 February 2023

855

855

Depreciation

At 1 March 2022

199

199

Charge for the year

164

164

At 28 February 2023

363

363

Carrying amount

At 28 February 2023

492

492

At 28 February 2022

61

61

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

2,403

3,587

Other creditors

7,002

5,262

9,405

8,849

Due after one year

Loans and borrowings

14,727

14,330

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

 

Loans and borrowings

14,727

14,330