Company Registration No. SC355266 (Scotland)
FOREMOST PRODUCTS LTD.
Unaudited accounts
for the year ended 30 April 2023
FOREMOST PRODUCTS LTD.
Unaudited accounts
Contents
FOREMOST PRODUCTS LTD.
Company Information
for the year ended 30 April 2023
Directors
Anne Elizabeth Foreman
Graham James Alexander Foreman
Christopher William Tindall
Secretary
Anne Elizabeth Foreman
Company Number
SC355266 (Scotland)
Registered Office
UNIT 7, 42
DALSETTER AVENUE
GLASGOW
LANARKSHIRE
G15 8TE
Accountants
Elizabeth Needham FFA
Needham Accountancy Ltd
Berkeley House
Barnet Road
London Colney, Hertfordshire
AL2 1BG
FOREMOST PRODUCTS LTD.
Statement of financial position
as at 30 April 2023
Tangible assets
1,798
1,185
Inventories
109,195
90,988
Cash at bank and in hand
26,822
125,491
Creditors: amounts falling due within one year
(91,780)
(176,075)
Net current assets
105,096
119,406
Total assets less current liabilities
106,894
120,591
Creditors: amounts falling due after more than one year
(95,847)
(118,410)
Called up share capital
100
100
Profit and loss account
10,947
2,081
Shareholders' funds
11,047
2,181
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by
Anne Elizabeth Foreman
Director
Company Registration No. SC355266
FOREMOST PRODUCTS LTD.
Notes to the Accounts
for the year ended 30 April 2023
FOREMOST PRODUCTS LTD. is a private company, limited by shares, registered in Scotland, registration number SC355266. The registered office is UNIT 7, 42, DALSETTER AVENUE, GLASGOW, LANARKSHIRE, G15 8TE.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Fixtures & fittings
20% at cost
Computer equipment
20% at cost
Goodwill acquired is capitalised in the balance sheet and is amortised by equal instalments over the estimated useful economic life of 10 years.
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2022
8,650
16,037
24,687
At 30 April 2023
8,790
16,959
25,749
At 1 May 2022
8,005
15,497
23,502
Charge for the year
157
292
449
At 30 April 2023
8,162
15,789
23,951
At 30 April 2023
628
1,170
1,798
At 30 April 2022
645
540
1,185
FOREMOST PRODUCTS LTD.
Notes to the Accounts
for the year ended 30 April 2023
Amounts falling due within one year
Trade debtors
60,859
79,002
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
30,090
74,795
Taxes and social security
3,242
29,641
Other creditors
27,030
26,404
Loans from directors
(4,092)
40,735
8
Creditors: amounts falling due after more than one year
2023
2022
Taxes and social security
4,180
8,410
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).