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REGISTERED NUMBER: 06040510 (England and Wales)















Financial Statements for the Year Ended 31 January 2024

for

Ian Foster Limited

Ian Foster Limited (Registered number: 06040510)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ian Foster Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: I Foster
Mrs J A Foster





SECRETARY: Mrs J A Foster





REGISTERED OFFICE: Bank House
Southwick Square
Southwick
West Sussex
BN42 4FN





REGISTERED NUMBER: 06040510 (England and Wales)





ACCOUNTANTS: Style and Silver
Bank House
Southwick Square
Southwick
West Sussex
BN42 4FN

Ian Foster Limited (Registered number: 06040510)

Balance Sheet
31 January 2024

31.1.24 31.1.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 867 1,295

CURRENT ASSETS
Stocks 33,583 33,318
Debtors 5 14,266 43,388
Cash at bank 69,382 76,283
117,231 152,989
CREDITORS
Amounts falling due within one year 6 967 1,706
NET CURRENT ASSETS 116,264 151,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

117,131

152,578

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 117,031 152,478
SHAREHOLDERS' FUNDS 117,131 152,578

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Ian Foster Limited (Registered number: 06040510)

Balance Sheet - continued
31 January 2024


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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





I Foster - Director


Ian Foster Limited (Registered number: 06040510)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Ian Foster 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
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 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.
Plant and machinery etc - 25% on reducing balance

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

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.

Ian Foster Limited (Registered number: 06040510)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 8,731
DEPRECIATION
At 1 February 2023 7,436
Charge for year 428
At 31 January 2024 7,864
NET BOOK VALUE
At 31 January 2024 867
At 31 January 2023 1,295

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
as restated
£    £   
Trade debtors 13,725 27,075
Other debtors 541 16,313
14,266 43,388

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
as restated
£    £   
Trade creditors - 749
Taxation and social security - 98
Other creditors 967 859
967 1,706