IRIS Accounts Production v24.1.0.578 02013557 Board of Directors 30.10.22 29.10.23 29.10.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh020135572022-10-29020135572023-10-29020135572022-10-302023-10-29020135572021-10-31020135572021-11-012022-10-29020135572022-10-2902013557ns15:EnglandWales2022-10-302023-10-2902013557ns14:PoundSterling2022-10-302023-10-2902013557ns10:Director12022-10-302023-10-2902013557ns10:PrivateLimitedCompanyLtd2022-10-302023-10-2902013557ns10:SmallEntities2022-10-302023-10-2902013557ns10:AuditExempt-NoAccountantsReport2022-10-302023-10-2902013557ns10:SmallCompaniesRegimeForDirectorsReport2022-10-302023-10-2902013557ns10:SmallCompaniesRegimeForAccounts2022-10-302023-10-2902013557ns10:FullAccounts2022-10-302023-10-290201355712022-10-302023-10-2902013557ns10:Director22022-10-302023-10-2902013557ns10:Director32022-10-302023-10-2902013557ns10:RegisteredOffice2022-10-302023-10-2902013557ns5:CurrentFinancialInstruments2023-10-2902013557ns5:CurrentFinancialInstruments2022-10-2902013557ns5:Non-currentFinancialInstruments2023-10-2902013557ns5:Non-currentFinancialInstruments2022-10-2902013557ns5:ShareCapital2023-10-2902013557ns5:ShareCapital2022-10-2902013557ns5:RetainedEarningsAccumulatedLosses2023-10-2902013557ns5:RetainedEarningsAccumulatedLosses2022-10-2902013557ns5:IntangibleAssetsOtherThanGoodwill2022-10-302023-10-2902013557ns5:FurnitureFittings2022-10-302023-10-2902013557ns5:IntangibleAssetsOtherThanGoodwill2022-10-2902013557ns5:IntangibleAssetsOtherThanGoodwill2023-10-2902013557ns5:IntangibleAssetsOtherThanGoodwill2022-10-2902013557ns5:FurnitureFittings2022-10-2902013557ns5:FurnitureFittings2023-10-2902013557ns5:FurnitureFittings2022-10-2902013557ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-10-2902013557ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-10-2902013557ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-10-2902013557ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-10-29
REGISTERED NUMBER: 02013557 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 OCTOBER 2023

FOR

FOLDBOND LIMITED

FOLDBOND LIMITED (REGISTERED NUMBER: 02013557)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FOLDBOND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 OCTOBER 2023







DIRECTORS: Mrs B Mistry
Mr T Mistry
Mr R P Mistry





REGISTERED OFFICE: 40 William Mews
London
SW1X 9HQ





REGISTERED NUMBER: 02013557 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

FOLDBOND LIMITED (REGISTERED NUMBER: 02013557)

BALANCE SHEET
29 OCTOBER 2023

29.10.23 29.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,651 10,651
Tangible assets 5 - -
10,651 10,651

CURRENT ASSETS
Stocks 996,482 996,482
Debtors 6 150,000 150,000
Cash at bank 21,514 11,672
1,167,996 1,158,154
CREDITORS
Amounts falling due within one year 7 941,667 940,204
NET CURRENT ASSETS 226,329 217,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,980

228,601

CREDITORS
Amounts falling due after more than one year 8 3,964 6,388
NET ASSETS 233,016 222,213

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 232,916 222,113
SHAREHOLDERS' FUNDS 233,016 222,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and loss accounts has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mrs B Mistry - Director


FOLDBOND LIMITED (REGISTERED NUMBER: 02013557)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2023

1. STATUTORY INFORMATION

Foldbond 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is represents net invoiced value of sale of properties excluding value added tax.

Intangible assets
Intangible assets comprise of cryptocurrency assets that are initially measured at cost less any accumulated impairment loss.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

Stocks
Stock represents property acquired for resale together with work in progress on the property. These assets are included at the lower of cost and net realisable value. Cost for this purpose comprises the purchase cost of the land and building and improvement expenditure.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss accounts, 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.

3. EMPLOYEES AND DIRECTORS

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

FOLDBOND LIMITED (REGISTERED NUMBER: 02013557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 30 October 2022
and 29 October 2023 10,651
NET BOOK VALUE
At 29 October 2023 10,651
At 29 October 2022 10,651

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 30 October 2022
and 29 October 2023 4,234
DEPRECIATION
At 30 October 2022
and 29 October 2023 4,234
NET BOOK VALUE
At 29 October 2023 -
At 29 October 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Amounts owed by connected company 150,000 150,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans and overdrafts 2,424 2,364
Corporation Tax payable 9,961 6,566
Other creditors 16,524 16,524
Director's current account 906,083 910,446
Accrued expenses 6,675 4,304
941,667 940,204

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans - 1-2 years 2,485 2,424
Bank loans - 2-5 years 1,479 3,964
3,964 6,388

FOLDBOND LIMITED (REGISTERED NUMBER: 02013557)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2023

9. RELATED PARTY DISCLOSURES

As at the balance sheet date the company owed £906,083 (2022: £910,446) to the director of the company. The loan is interest free and repayable on demand.

As at 31 October 2023, Chadworth Investments Ltd owed £150,000 (2022: £150,000) to Foldbond Limited.

Foldbond Limited and Chadworth Investments Limited are connected companies by virtue of having common director.

10. CONTROLLING PARTY

The company is controlled by the director, Mrs B Mistry by virtue of holding 100% of the issued share capital of the company.