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REGISTERED NUMBER: 03243758 (England and Wales)










Fosway Group Limited

Financial Statements

for the Year Ended 31st August 2023






Fosway Group Limited (Registered number: 03243758)






Contents of the Financial Statements
for the Year Ended 31st August 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Fosway Group Limited (Registered number: 03243758)

Balance Sheet
31st August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,431 5,838
Investments 5 21,955 21,743
27,386 27,581

CURRENT ASSETS
Debtors 6 532,571 375,809
Cash at bank and in hand 671,645 790,441
1,204,216 1,166,250
CREDITORS
Amounts falling due within one year 7 409,460 312,753
NET CURRENT ASSETS 794,756 853,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

822,142

881,078

CREDITORS
Amounts falling due after more than one
year

8

10,160

69,040
NET ASSETS 811,982 812,038

CAPITAL AND RESERVES
Called up share capital 400 400
Share premium 137,400 137,400
Retained earnings 674,182 674,238
SHAREHOLDERS' FUNDS 811,982 812,038

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

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

Fosway Group Limited (Registered number: 03243758)

Balance Sheet - continued
31st August 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:





D R Wilson - Director


Fosway Group Limited (Registered number: 03243758)

Notes to the Financial Statements
for the Year Ended 31st August 2023

1. STATUTORY INFORMATION

Fosway Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03243758

Registered office: Purlieus Farmhouse
Ewen
Cirencester
Gloucestershire
GL7 6BY

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 represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office furniture and equipment - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Group accounts
The company has taken the advantage of the exemption from the requirement to prepare group accounts. The subsidiary Fosway GmBH, c/o Neussel KPA Partnerschaft, Rechtsanwalten Mbb Dr. Karl Aschoffstr.9, Bad Kreuznach Germany is not included in these accounts therefore. The aggregate amount of capital and reserves as at the end of it's relevant financial year, and the profit for that year, are disclosed in note 6.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

Fosway Group Limited (Registered number: 03243758)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2023

4. TANGIBLE FIXED ASSETS
Office
furniture
and Computer
equipment equipment Totals
£    £    £   
COST
At 1st September 2022 26,608 75,351 101,959
Additions - 3,360 3,360
At 31st August 2023 26,608 78,711 105,319
DEPRECIATION
At 1st September 2022 26,608 69,513 96,121
Charge for year - 3,767 3,767
At 31st August 2023 26,608 73,280 99,888
NET BOOK VALUE
At 31st August 2023 - 5,431 5,431
At 31st August 2022 - 5,838 5,838

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st September 2022 21,743
Additions 212
At 31st August 2023 21,955
NET BOOK VALUE
At 31st August 2023 21,955
At 31st August 2022 21,743

The investment comprises 25,000 shares of 1 euro, representing the entire share capital of Fosway GmbH, a company registered in Germany. The company's registered number is HRB 24025.

As at 31st August 2023, the aggregate of the share capital and reserves of Fosway GmBH amounted to £35,011 and the profit for the year to that date was £5,672.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 359,806 206,502
Other debtors 172,765 169,307
532,571 375,809

Fosway Group Limited (Registered number: 03243758)

Notes to the Financial Statements - continued
for the Year Ended 31st August 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 58,880 55,459
Trade creditors 15,521 10,155
Amounts owed to group undertakings 8,722 27,999
Taxation and social security 279,179 196,178
Other creditors 47,158 22,962
409,460 312,753

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 10,160 69,040

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st August 2023 and 31st August 2022:

2023 2022
£    £   
D R Wilson
Balance outstanding at start of year 80,618 76,957
Amounts advanced 282,846 570,285
Amounts repaid (280,624 ) (566,624 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,840 80,618

Mrs E I Wilson
Balance outstanding at start of year 49,142 49,142
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,142 49,142