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REGISTERED NUMBER: 11339423 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FOAMOLOGY LIMITED

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOAMOLOGY LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTOR: N L M Lemmens





REGISTERED OFFICE: Cart Lodge, Harps Farm Bedlars Green
Great Hallingbury
Bishop'S Stortford
Hertfordshire
CM22 7TL





REGISTERED NUMBER: 11339423 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 156,400 156,819

CURRENT ASSETS
Stocks 40,000 27,000
Debtors 5 24,144 28,604
Cash at bank and in hand 11,518 98,605
75,662 154,209
CREDITORS
Amounts falling due within one year 6 73,080 81,070
NET CURRENT ASSETS 2,582 73,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,982

229,958

CREDITORS
Amounts falling due after more than one
year

7

41,274

40,608
NET ASSETS 117,708 189,350

CAPITAL AND RESERVES
Called up share capital 8 3,684 3,684
Share premium 9 315,704 315,704
Retained earnings 9 (201,680 ) (130,038 )
SHAREHOLDERS' FUNDS 117,708 189,350

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 profit or loss 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.

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

BALANCE SHEET - continued
31 May 2023


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 director and authorised for issue on 23 February 2024 and were signed by:





N L M Lemmens - Director


FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023

1. STATUTORY INFORMATION

Foamology Limited is a private company, limited by shares , 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 - going concern
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.

The financial statements have been prepared on a going concern basis as the directors and the creditors have undertaken to continue to support the activities of the company and the directors are of the opinion that the company's profitability will improve in subsequent years.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

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.
Short leasehold - Over period of lease
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 49,447 147,274 2,174 1,281 200,176
Additions 3,667 34,319 - - 37,986
At 31 May 2023 53,114 181,593 2,174 1,281 238,162
DEPRECIATION
At 1 June 2022 7,577 34,458 821 501 43,357
Charge for year 5,006 32,599 435 365 38,405
At 31 May 2023 12,583 67,057 1,256 866 81,762
NET BOOK VALUE
At 31 May 2023 40,531 114,536 918 415 156,400
At 31 May 2022 41,870 112,816 1,353 780 156,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 18,170 18,170
VAT - 5,972
Prepayments 5,974 4,462
24,144 28,604

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,000
Other loans 12,298 7,185
Social security and other taxes 1,194 2,730
VAT 2,027 -
Other creditors 439 1,304
Directors' current accounts 54,922 63,852
Accrued expenses 2,200 1,999
73,080 81,070

FOAMOLOGY LIMITED (REGISTERED NUMBER: 11339423)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 4,195
Other loans - 2-5 years 4,861 -
Other creditors 36,413 36,413
41,274 40,608

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,302,716 Ordinary £0.0016 3,684 3,684

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2022 (130,038 ) - (130,038 )
Deficit for the year (71,642 ) (71,642 )
Cash share issue - 315,704 315,704
At 31 May 2023 (201,680 ) 315,704 114,024