1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 7,500 3,450 607 4,057 3,443 4,050 xbrli:pure xbrli:shares iso4217:GBP 07656754 2023-07-01 2024-06-30 07656754 2024-06-30 07656754 2023-06-30 07656754 2022-07-01 2023-06-30 07656754 2023-06-30 07656754 2022-06-30 07656754 bus:Director1 2023-07-01 2024-06-30 07656754 core:WithinOneYear 2024-06-30 07656754 core:WithinOneYear 2023-06-30 07656754 core:ShareCapital 2024-06-30 07656754 core:ShareCapital 2023-06-30 07656754 core:RetainedEarningsAccumulatedLosses 2024-06-30 07656754 core:RetainedEarningsAccumulatedLosses 2023-06-30 07656754 bus:SmallEntities 2023-07-01 2024-06-30 07656754 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07656754 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07656754 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07656754 bus:FullAccounts 2023-07-01 2024-06-30 07656754 core:OfficeEquipment 2023-07-01 2024-06-30 07656754 core:OfficeEquipment 2024-06-30 07656754 core:OfficeEquipment 2023-06-30 07656754 core:KeyManagementIndividualGroup1 2023-07-01 2024-06-30 07656754 core:KeyManagementIndividualGroup1 2024-06-30
COMPANY REGISTRATION NUMBER: 07656754
Foster Solutions Associates Limited
Filleted Unaudited Financial Statements
For the year ended
30 June 2024
Foster Solutions Associates Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
3,443
4,050
Current assets
Cash at bank and in hand
21,745
27,698
Creditors: amounts falling due within one year
6
3,178
1,807
--------
--------
Net current assets
18,567
25,891
--------
--------
Total assets less current liabilities
22,010
29,941
--------
--------
Net assets
22,010
29,941
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
21,910
29,841
--------
--------
Shareholders funds
22,010
29,941
--------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Foster Solutions Associates Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 24 October 2024 , and are signed on behalf of the board by:
Mr J Foster
Director
Company registration number: 07656754
Foster Solutions Associates Limited
Notes to the Financial Statements
Year ended 30 June 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 Carlisle Chambers, Carlisle Street, Goole, East Yorkshire, DN14 5DX.
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
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Current & deferred tax
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.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) 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:
Office Equipment
-
15% reducing balance
(f) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 July 2023 and 30 June 2024
7,500
7,500
-------
-------
Depreciation
At 1 July 2023
3,450
3,450
Charge for the year
607
607
-------
-------
At 30 June 2024
4,057
4,057
-------
-------
Carrying amount
At 30 June 2024
3,443
3,443
-------
-------
At 30 June 2023
4,050
4,050
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
193
384
Accruals and deferred income
895
895
Director loan accounts
2,090
528
-------
-------
3,178
1,807
-------
-------
7. Related party transactions
As at 30 June 2024 the company owed the director a total of £ 2,090 (2023: £528) on their directors loan account . No interest is charged on this balance and the loan carries no fixed date for repayment.