Company Registration No. 13480899 (England and Wales)
FOAMEX LIMITED
Unaudited accounts
for the year ended 31 May 2024
FOAMEX LIMITED
Unaudited accounts
Contents
FOAMEX LIMITED
Company Information
for the year ended 31 May 2024
Directors
Aaron Patrick Perrins
Richard Daniel Waterworth
Company Number
13480899 (England and Wales)
Registered Office
3 MOORSOM WAY
BROMSGROVE
B60 3SH
ENGLAND
Accountants
AC Counts & Services Ltd
Office 42
Imex Business Centre, Oxleasow Road
Redditch
Worcestershire
B98 0RE
FOAMEX LIMITED
Statement of financial position
as at 31 May 2024
Tangible assets
41,527
25,366
Cash at bank and in hand
7,820
9,449
Creditors: amounts falling due within one year
(1,980)
7,186
Net current assets
35,133
21,926
Total assets less current liabilities
76,900
47,292
Creditors: amounts falling due after more than one year
(37,825)
(34,100)
Called up share capital
1
1
Profit and loss account
39,074
13,191
Shareholders' funds
39,075
13,192
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2024 and were signed on its behalf by
Aaron Patrick Perrins
Director
Company Registration No. 13480899
FOAMEX LIMITED
Notes to the Accounts
for the year ended 31 May 2024
FOAMEX LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13480899. The registered office is 3 MOORSOM WAY, BROMSGROVE, B60 3SH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line Method
Computer equipment
25% Straight Line Method
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The financial statements have been prepared on a going concern basis. This assumes the continued support of the director. The director has indicated his support will continue for the foreseeable future.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
FOAMEX LIMITED
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
30,724
1,048
31,772
Additions
27,462
797
28,259
At 31 May 2024
58,186
1,845
60,031
At 1 June 2023
6,144
262
6,406
Charge for the year
11,636
462
12,098
At 31 May 2024
17,780
724
18,504
At 31 May 2024
40,406
1,121
41,527
At 31 May 2023
24,580
786
25,366
Amounts falling due within one year
Trade debtors
28,059
4,990
Accrued income and prepayments
-
300
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
FOAMEX LIMITED
Notes to the Accounts
for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
22,000
34,100
9
Transactions with related parties
At the year end, there was a balance of £10,000 owed to director Mr Aaron Perrins and a balance of £12,000 owed to director Richard Waterworth.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).