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COMPANY REGISTRATION NUMBER: 13857519
Foster Electrical Solutions Anglia Limited
Unaudited financial statements
31 January 2024
Foster Electrical Solutions Anglia Limited
Statement of financial position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
733
367
Current assets
Stocks
21,200
35,000
Debtors
6
121,966
217,724
Cash at bank and in hand
2,221
1,844
---------
---------
145,387
254,568
Creditors: Amounts falling due within one year
7
( 141,178)
( 282,831)
---------
---------
Net current assets/(liabilities)
4,209
( 28,263)
------
-------
Total assets less current liabilities
4,942
( 27,896)
------
-------
Net assets/(liabilities)
4,942
( 27,896)
------
-------
Capital and reserves
Called up share capital
100
1
Profit and loss account
4,842
( 27,897)
------
-------
Shareholders funds/(deficit)
4,942
( 27,896)
------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
R Foster
Director
Company registration number: 13857519
Foster Electrical Solutions Anglia Limited
Notes to the financial statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2A Telford Way, Thetford, Norfolk, IP24 1HU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of employees during the year was 11 (2023: 13 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 February 2023
383
Additions
500
----
At 31 January 2024
883
----
Depreciation
At 1 February 2023
16
Charge for the year
134
----
At 31 January 2024
150
----
Carrying amount
At 31 January 2024
733
----
At 31 January 2023
367
----
6. Debtors
2024
2023
£
£
Trade debtors
20,729
63,412
Amounts owed by group undertakings and undertakings in which the company has a participating interest
40,000
101,811
Other debtors
61,237
52,501
---------
---------
121,966
217,724
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
66,089
112,501
Amounts owed to group undertakings and undertakings in which the company has a participating interest
9,474
Social security and other taxes
51,663
6,329
Other creditors
13,952
164,001
---------
---------
141,178
282,831
---------
---------
8. Directors' advances, credits and guarantees
At the balance sheet date, included within debtors is £54,645 (2023: £18,754) which is owed to the company by the director. Interest has been charged on the loan at the official rate.