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REGISTERED NUMBER: 02434265 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Foam Conversion (U.K.) Limited

Foam Conversion (U.K.) Limited (Registered number: 02434265)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Foam Conversion (U.K.) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Oakley
M G Bibby
Mrs M A Oakley
Miss K E Oakley
D Kinns



REGISTERED OFFICE: 8 & 9 Lyon Close
Woburn Road Industrial Estate
Kempston
Bedfordshire
MK42 7SB



REGISTERED NUMBER: 02434265 (England and Wales)



ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ



BANKERS: Lloyds TSB Bank plc
34 High Street
Bedford
MK40 1SB

Foam Conversion (U.K.) Limited (Registered number: 02434265)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 286,896 288,506

CURRENT ASSETS
Stocks 55,400 51,000
Debtors 6 245,415 258,656
Cash at bank and in hand 74,060 147,021
374,875 456,677
CREDITORS
Amounts falling due within one year 7 232,267 241,347
NET CURRENT ASSETS 142,608 215,330
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,504

503,836

CREDITORS
Amounts falling due after more than one
year

8

(11,667

)

(21,667

)

PROVISIONS FOR LIABILITIES (5,000 ) (2,419 )
NET ASSETS 412,837 479,750

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 90 90
Capital redemption reserve 30 30
Retained earnings 412,717 479,630
SHAREHOLDERS' FUNDS 412,837 479,750

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Foam Conversion (U.K.) Limited (Registered number: 02434265)

Statement of Financial Position - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





J Oakley - Director


Foam Conversion (U.K.) Limited (Registered number: 02434265)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Foam Conversion (U.K.) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foam Conversion (U.K.) Limited (Registered number: 02434265)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 443,931 15,054 18,109 5,908 483,002
Additions - 8,610 3,034 947 12,591
Disposals - - (587 ) - (587 )
At 31 March 2024 443,931 23,664 20,556 6,855 495,006
DEPRECIATION
At 1 April 2023 168,156 7,227 15,641 3,472 194,496
Charge for year 8,879 3,410 972 940 14,201
Eliminated on disposal - - (587 ) - (587 )
At 31 March 2024 177,035 10,637 16,026 4,412 208,110
NET BOOK VALUE
At 31 March 2024 266,896 13,027 4,530 2,443 286,896
At 31 March 2023 275,775 7,827 2,468 2,436 288,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 207,201 220,084
Other debtors 3,600 3,600
Directors' current accounts 381 381
Prepayments 34,233 34,591
245,415 258,656

Foam Conversion (U.K.) Limited (Registered number: 02434265)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 51,820 51,981
Tax 96,177 86,443
Social security and other taxes 30,689 59,288
VAT 25,014 17,507
Other creditors 444 -
Directors' current accounts 559 559
Accrued expenses 17,564 15,569
232,267 241,347

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 11,667
11,667 21,667

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The balance owed by the directors to the company at the start and end of the year end was £381. The loan is interest free and repayable on demand.