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COMPANY REGISTRATION NUMBER: 00293778
Charles Foulds & Son (Derby) Limited
Filleted Unaudited Financial Statements
31 January 2024
Charles Foulds & Son (Derby) Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
142,274
135,786
Cash at bank and in hand
43,539
59,211
---------
---------
185,813
194,997
Creditors: amounts falling due within one year
6
3,566
3,378
---------
---------
Net current assets
182,247
191,619
---------
---------
Total assets less current liabilities
182,247
191,619
---------
---------
Net assets
182,247
191,619
---------
---------
Capital and reserves
Called up share capital
3,806
3,806
Capital redemption reserve
505
505
Profit and loss account
177,936
187,308
---------
---------
Shareholders funds
182,247
191,619
---------
---------
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:
V M Foulds
Mr J M Foulds
Director
Director
Company registration number: 00293778
Charles Foulds & Son (Derby) 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.
Going concern
The business run by the company was sold in November 2020, it is the intention of the directors that the company will continue in operation until at least after all debts have been paid and received.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
2024
2023
£
£
Trade debtors
27,774
55,414
Amounts owed by group undertakings and undertakings in which the company has a participating interest
114,500
80,000
Other debtors
372
---------
---------
142,274
135,786
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
138
135
Social security and other taxes
185
Other creditors
3,243
3,243
-------
-------
3,566
3,378
-------
-------
7. Directors' advances, credits and guarantees
The company has loans from the directors which are interest free and repayable on demand. At the year end the amount due to the directors was £1,243 (2022-£1,243).
8. Controlling party
The company was controlled throughout the year by Charles Foulds & Son Holdings Limited, a company registered in England & Wales and whose registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham NG10 1NJ.