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REGISTERED NUMBER: 12391596 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Foundational Economy Research Ltd

Foundational Economy Research Ltd (Registered number: 12391596)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Foundational Economy Research Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Professor J D Froud
Professor C J Haslam
Professor S Johal
Professor K H Williams





SECRETARY: Professor C J Haslam





REGISTERED OFFICE: 91 St Werburghs Road
Manchester
Lancashire
M21 8UJ





REGISTERED NUMBER: 12391596 (England and Wales)





ACCOUNTANTS: CAP
Chartered Accountants
6 Holly Road
High Lane
Stockport
Cheshire
SK6 8HW

Foundational Economy Research Ltd (Registered number: 12391596)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,051 989

CURRENT ASSETS
Debtors 5 (15,000 ) 16,800
Cash at bank 78,449 40,255
63,449 57,055
CREDITORS
Amounts falling due within one year 6 8,682 10,707
NET CURRENT ASSETS 54,767 46,348
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,818

47,337

RESERVES
Income and expenditure account 56,818 47,337
56,818 47,337

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 10 March 2024 and were signed on its behalf by:





Professor K H Williams - Director


Foundational Economy Research Ltd (Registered number: 12391596)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Foundational Economy Research Ltd 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.

2. ACCOUNTING POLICIES

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

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

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

Taxation
Taxation for the year 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.

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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Foundational Economy Research Ltd (Registered number: 12391596)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,319
Additions 1,745
At 31 March 2023 3,064
DEPRECIATION
At 1 April 2022 330
Charge for year 683
At 31 March 2023 1,013
NET BOOK VALUE
At 31 March 2023 2,051
At 31 March 2022 989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors (15,000 ) 16,800

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 528 419
Taxation and social security 1,973 7,302
Other creditors 6,181 2,986
8,682 10,707