Registered number
04599677
Foster & Co Limited
Filleted Accounts
30 November 2023
Foster & Co Limited
Registered number: 04599677
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 92,950 100,100
Tangible assets 4 254,621 259,073
347,571 359,173
Current assets
Debtors 5 46,778 47,625
Cash at bank and in hand 24,521 118,934
71,299 166,559
Creditors: amounts falling due within one year 6 (176,612) (230,362)
Net Current liabilities (105,313) (63,803)
Total assets less current liabilities 242,258 295,370
Creditors: amounts falling due after more than one year 7 (61,336) (138,621)
Provisions for liabilities (1,976) (1,782)
Net assets 178,946 154,967
Capital and reserves
Called up share capital 103 103
Profit and loss account 178,843 154,864
Shareholders' funds 178,946 154,967
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss JK Foster
Director
Approved by the board on 30 August 2024
Foster & Co Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales / value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% straight line
Computer equipment 25% on written down value
Fixtures and fittings 25% on written down value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2022 143,000
At 30 November 2023 143,000
Amortisation
At 1 December 2022 42,900
Provided during the year 7,150
At 30 November 2023 50,050
Net book value
At 30 November 2023 92,950
At 30 November 2022 100,100
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 271,098 31,966 303,064
Additions - 4,515 4,515
At 30 November 2023 271,098 36,481 307,579
Depreciation
At 1 December 2022 21,688 22,303 43,991
Charge for the year 5,422 3,545 8,967
At 30 November 2023 27,110 25,848 52,958
Net book value
At 30 November 2023 243,988 10,633 254,621
At 30 November 2022 249,410 9,663 259,073
5 Debtors 2023 2022
£ £
Trade debtors 46,778 47,625
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 32,000 32,000
Taxation and social security costs 35,274 34,937
Other creditors 109,338 163,425
176,612 230,362
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 61,336 138,621
8 Related party transactions
The company is controlled by the directors, by virtue of their shareholding. The directors have non-interest paying loan accounts with the company. At the year end the company owed the directors £75199 (2022: £159263).
9 Other information
Foster & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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