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REGISTERED NUMBER: 06523683 (England and Wales)















FFMA (TRADING) LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Report of the Directors 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


FFMA (TRADING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Sir R M De Haan
Ms L Oellermann
S Pullen





REGISTERED OFFICE: Marlowe Innovation Centre
Marlowe Way
Ramsgate
Kent
CT12 6FA





REGISTERED NUMBER: 06523683 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 JANUARY 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the operation of the Marlowe Innovation Centre, a business centre with offices and light industrial workspaces that offers accommodation and support to small and start-up innovative business tenants.

The Marlowe Innovation Centre has a board room and a meeting room which are let for meetings, training events and conferences, and a hot-desk area for use on a daily basis. The Marlowe Innovation Centre also provides virtual tenancies where small businesses can have a dedicated phone number and address at the centre, with the optional add-ons such as messaging and call and post forwarding. Back office services can be provided, which include booking appointments for tenants' clients, franking and managing mail-outs and receiving payments.

The Marlowe Innovation Centre was established to support the regeneration of East Kent by offering a supporting environment for small businesses and job creation. FFMA (Trading) Limited is a trading arm of the Friends of Folkestone Academy Limited, a registered charity and the parent Company. All surplus funds are donated to the charity to help it meet its objectives.

As an integral part of its aims for regeneration, the Marlowe Innovation Centre has an educational mission. It welcomes young people from local schools on visits and for mentoring and work experience and has had a transformative influence on some young people's lives.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

Sir R M De Haan
Ms L Oellermann
S Pullen

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Sir R M De Haan - Director


23 September 2024

FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
£    £   

TURNOVER 311,782 294,248

Administrative expenses (254,365 ) (244,040 )
OPERATING PROFIT 57,417 50,208

Interest receivable and similar income 1,020 185
PROFIT BEFORE TAXATION 58,437 50,393

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 58,437 50,393

Retained earnings at beginning of year 19,848 35,988

Donation to parent charity (47,532 ) (66,533 )

RETAINED EARNINGS AT END OF
YEAR

30,753

19,848

FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,909 10,194

CURRENT ASSETS
Debtors 5 29,855 25,683
Cash at bank and in hand 65,486 51,576
95,341 77,259
CREDITORS
Amounts falling due within one year 6 (67,496 ) (67,604 )
NET CURRENT ASSETS 27,845 9,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,754

19,849

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 30,753 19,848
30,754 19,849

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




Sir R M De Haan - Director


FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

FFMA (Trading) 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.
Fixture & Fittings - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

The Company donates all profits over to its parent undertaking, Friends of Folkestone Academy Ltd, which is a registered Charity. Therefore no liability arises to Corporation Tax on the Company's results.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 8 ) .

FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements
to Fixture & Computer
property Fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023 17,094 2,426 54,696 74,216
Additions - - 420 420
At 31 January 2024 17,094 2,426 55,116 74,636
DEPRECIATION
At 1 February 2023 17,094 2,000 44,928 64,022
Charge for year - 188 7,517 7,705
At 31 January 2024 17,094 2,188 52,445 71,727
NET BOOK VALUE
At 31 January 2024 - 238 2,671 2,909
At 31 January 2023 - 426 9,768 10,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,170 19,354
Other debtors 5,685 6,329
29,855 25,683

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,501 3,222
Taxation and social security 11,220 9,274
Other creditors 50,775 55,108
67,496 67,604

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 74,880 74,880
Between one and five years 68,640 143,520
143,520 218,400

FFMA (TRADING) LIMITED (REGISTERED NUMBER: 06523683)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. RELATED PARTY DISCLOSURES

Friends of Folkestone Academy Ltd

The parent and ultimate controlling party.

During the year the company may participate in transactions with Friends of Folkestone Academy Ltd as part of it normal course of business. The Company has taken advantage of exemptions available under FRS 102 1A in preparing these financial statements. During the year, the Company distributed £47,532 (2023 £66,533) donations to its charitable parent.

9. ULTIMATE CONTROLLING PARTY

The Company's parent undertaking and ultimate controlling party is Friends of FOlkestone Academy Ltd, which has it registered office at Marlowe Innovation Centre, Marlowe Way, Ramsgate, Kent CT12 6FA.