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REGISTERED NUMBER: 01596802 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

FOREDOWEL LIMITED

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOREDOWEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: R Jones
Mrs L P Jones





REGISTERED OFFICE: Unit 4 Seaway Parade Industrial
Estate Baglan
Port Talbot
SA12 7BR





REGISTERED NUMBER: 01596802 (England and Wales)





ACCOUNTANTS: Baker Knoyle Chartered Accountants
Orbit Business Centre
Merthyr Tydfil
CF48 1DL

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,833 11,299
Tangible assets 5 652,959 619,098
680,792 630,397

CURRENT ASSETS
Stocks 65,044 70,928
Debtors 6 377,820 524,937
Cash at bank 133,215 22,277
576,079 618,142
CREDITORS
Amounts falling due within one year 7 267,060 209,508
NET CURRENT ASSETS 309,019 408,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

989,811

1,039,031

CREDITORS
Amounts falling due after more than one
year

8

(318,533

)

(314,854

)

PROVISIONS FOR LIABILITIES (86,583 ) (51,559 )
NET ASSETS 584,695 672,618

CAPITAL AND RESERVES
Called up share capital 20,001 20,001
Retained earnings 564,694 652,617
584,695 672,618

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

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

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2024 and were signed on its behalf by:





R Jones - Director


FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

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

1. STATUTORY INFORMATION

Foredowel 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

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

2. ACCOUNTING POLICIES - continued

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 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 August 2023 14,321
Additions 19,754
At 31 July 2024 34,075
AMORTISATION
At 1 August 2023 3,022
Charge for year 3,220
At 31 July 2024 6,242
NET BOOK VALUE
At 31 July 2024 27,833
At 31 July 2023 11,299

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 331,856 474,876 806,732
Additions - 88,392 88,392
At 31 July 2024 331,856 563,268 895,124
DEPRECIATION
At 1 August 2023 - 187,634 187,634
Charge for year - 54,531 54,531
At 31 July 2024 - 242,165 242,165
NET BOOK VALUE
At 31 July 2024 331,856 321,103 652,959
At 31 July 2023 331,856 287,242 619,098

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,969 160,598
Amounts owed by group undertakings 288,357 354,754
Other debtors 8,494 9,585
377,820 524,937

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,712 6,802
Hire purchase contracts 23,880 18,800
Trade creditors 138,215 65,395
Taxation and social security 37,849 60,049
Other creditors 61,404 58,462
267,060 209,508

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 238,166 242,787
Hire purchase contracts 80,367 72,067
318,533 314,854

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 215,318 215,578

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 243,878 249,589

Debentures and charges are secured over the property to which they relate by way of fixed and floating charges.

10. OTHER FINANCIAL COMMITMENTS

There was a tenancy arrangement in place for the rent of Unit 2 Briton Ferry Business Park for the subsidiary company Laser Profiling Limited (trading address). The tenancy agreement transferred over to the subsidiary during the year.

FOREDOWEL LIMITED (REGISTERED NUMBER: 01596802)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
R Jones
Balance outstanding at start of year 819 (1,580 )
Amounts advanced 3,149 2,399
Amounts repaid (820 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,148 819

12. ULTIMATE CONTROLLING PARTY

The controlling party is Foredowel Holdings Ltd.

The ultimate controlling party is Mr Robert Jones.