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Registration number: 14110997

Foundations To Finished Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 17 May 2023 to 31 May 2023

 

Foundations To Finished Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 12

 

Foundations To Finished Ltd

Company Information

Director

Mr Alexander Leney

Registered office

38 Lynholm Road
Polegate
East Sussex
BN26 6JR

Accountants

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

Foundations To Finished Ltd

Director's Report for the Period from 17 May 2023 to 31 May 2023

The director presents his report and the abridged financial statements for the period from 17 May 2023 to 31 May 2023.

Director of the company

The director who held office during the period was as follows:

Mr Alexander Leney

Principal activity

The principal activity of the company is General Building

Going concern

No Going Concern Issues.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 7 February 2024
 

.........................................
Mr Alexander Leney
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Foundations To Finished Ltd
for the Period Ended 31 May 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Foundations To Finished Ltd for the period ended 31 May 2023 as set out on pages 4 to 12 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 Foundations To Finished Ltd, as a body, in accordance with the terms of our engagement letter dated 24 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of Foundations To Finished Ltd and state those matters that we have agreed to state to the Board of Directors of Foundations To Finished Ltd, 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 Foundations To Finished Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Foundations To Finished Ltd 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 Foundations To Finished Ltd. You consider that Foundations To Finished Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Foundations To Finished Ltd. 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.

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

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

7 February 2024

 

Foundations To Finished Ltd

Abridged Profit and Loss Account for the Period from 17 May 2023 to 31 May 2023

Note

2023
£

2023
£

Gross profit

 

3,512

16,122

Administrative expenses

 

(582)

(34,544)

Interest payable and similar expenses

 

(175)

(4,463)

Profit/(loss) before tax

4

2,755

(22,885)

Profit/(loss) for the financial period

 

2,755

(22,885)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

Foundations To Finished Ltd

Statement of Comprehensive Income for the Period from 17 May 2023 to 31 May 2023

2023
£

2023
£

Profit/(loss) for the period

2,755

(22,885)

Total comprehensive income for the period

2,755

(22,885)

 

Foundations To Finished Ltd

(Registration number: 14110997)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

5

54,027

54,027

Creditors: Amounts falling due within one year

(63,321)

(63,895)

Total assets less current liabilities

 

(9,294)

(9,868)

Creditors: Amounts falling due after more than one year

(10,060)

(12,331)

Accruals and deferred income

 

(775)

(685)

Net liabilities

 

(20,129)

(22,884)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(20,130)

(22,885)

Shareholders' deficit

 

(20,129)

(22,884)

For the financial period ending 31 May 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 period 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 7 February 2024
 

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

Mr Alexander Leney

Director

 

Foundations To Finished Ltd

Statement of Changes in Equity for the Period from 17 May 2023 to 31 May 2023

Share capital
£

Retained earnings
£

Total
£

At 17 May 2023

1

(22,885)

(22,884)

Profit for the period

-

2,755

2,755

At 31 May 2023

1

(20,130)

(20,129)

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(22,885)

(22,885)

New share capital subscribed

1

-

1

At 16 May 2023

1

(22,885)

(22,884)

 

Foundations To Finished Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 May 2023 to 31 May 2023

1

General information

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

The address of its registered office is:
38 Lynholm Road
Polegate
East Sussex
BN26 6JR
England

These financial statements were authorised for issue by the director on 7 February 2024.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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:

 

Foundations To Finished Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 May 2023 to 31 May 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 0).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2023
£

Depreciation expense

-

13,507

 

Foundations To Finished Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 May 2023 to 31 May 2023

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 17 May 2023

67,534

67,534

At 31 May 2023

67,534

67,534

Depreciation

At 17 May 2023

13,507

13,507

At 31 May 2023

13,507

13,507

Carrying amount

At 31 May 2023

54,027

54,027

At 16 May 2023

54,027

54,027

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

7

Share capital

8

Transition to FRS 102

Balance Sheet at 17 May 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Foundations To Finished Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 May 2023 to 31 May 2023

Balance Sheet at 16 May 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Foundations To Finished Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 17 May 2023 to 31 May 2023

Profit and Loss Account for the year ended 16 May 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial period

-

-

-

-