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Company Registration No. SC355266 (Scotland)
FOREMOST PRODUCTS LTD. Unaudited accounts for the year ended 30 April 2023
FOREMOST PRODUCTS LTD. Unaudited accounts Contents
Page
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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
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FOREMOST PRODUCTS LTD. Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,798 
1,185 
Current assets
Inventories
109,195 
90,988 
Debtors
60,859 
79,002 
Cash at bank and in hand
26,822 
125,491 
196,876 
295,481 
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)
Net assets
11,047 
2,181 
Capital and reserves
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
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FOREMOST PRODUCTS LTD. Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Additions
140 
922 
1,062 
At 30 April 2023
8,790 
16,959 
25,749 
Depreciation
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 
Net book value
At 30 April 2023
628 
1,170 
1,798 
At 30 April 2022
645 
540 
1,185 
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FOREMOST PRODUCTS LTD. Notes to the Accounts for the year ended 30 April 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
60,859 
79,002 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
30,710 
- 
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 
Accruals
4,800 
4,500 
91,780 
176,075 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
91,667 
110,000 
Taxes and social security
4,180 
8,410 
95,847 
118,410 
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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