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COMPANY REGISTRATION NUMBER: 07636388
Charles Foulds & Son Holdings Limited
Filleted Unaudited Financial Statements
31 January 2024
Charles Foulds & Son Holdings Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
3,845
3,845
Current assets
Cash at bank and in hand
314,609
315,524
Creditors: amounts falling due within one year
5
81,250
51,250
---------
---------
Net current assets
233,359
264,274
---------
---------
Total assets less current liabilities
237,204
268,119
---------
---------
Net assets
237,204
268,119
---------
---------
Capital and reserves
Called up share capital
3,806
3,806
Profit and loss account
233,398
264,313
---------
---------
Shareholders funds
237,204
268,119
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 March 2024 , and are signed on behalf of the board by:
Mr J M Foulds
Director
Company registration number: 07636388
Charles Foulds & Son Holdings Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in subsidiaries
Investments in subsidiaries accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
3,806
39
3,845
-------
----
-------
Impairment
At 1 February 2023 and 31 January 2024
-------
----
-------
Carrying amount
At 31 January 2024
3,806
39
3,845
-------
----
-------
At 31 January 2023
3,806
39
3,845
-------
----
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
80,000
50,000
Other creditors
1,250
1,250
--------
--------
81,250
51,250
--------
--------