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Company No: 11217189 (England and Wales)

FOILBORNE LIMITED

Unaudited Financial Statements
For the financial year ended 27 February 2024
Pages for filing with the registrar

FOILBORNE LIMITED

Unaudited Financial Statements

For the financial year ended 27 February 2024

Contents

FOILBORNE LIMITED

BALANCE SHEET

As at 27 February 2024
FOILBORNE LIMITED

BALANCE SHEET (continued)

As at 27 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 23,078 25,824
23,078 25,824
Current assets
Debtors 4 0 6,381
Cash at bank and in hand 109,778 116,441
109,778 122,822
Creditors: amounts falling due within one year 5 ( 50,461) ( 51,172)
Net current assets 59,317 71,650
Total assets less current liabilities 82,395 97,474
Net assets 82,395 97,474
Capital and reserves
Called-up share capital 1 1
Profit and loss account 82,394 97,473
Total shareholder's funds 82,395 97,474

For the financial year ending 27 February 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 financial statements of Foilborne Limited (registered number: 11217189) were approved and authorised for issue by the Director on 24 November 2024. They were signed on its behalf by:

Adam William Edward May
Director
FOILBORNE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
FOILBORNE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 27 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Foilborne Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 198 Abbotsbury Road, Weymouth, Dorset, DT4 0NA.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 28 February 2023 25,286 22,940 15,212 63,438
Additions 1,479 0 4,336 5,815
Disposals 0 0 ( 1,478) ( 1,478)
At 27 February 2024 26,765 22,940 18,070 67,775
Accumulated depreciation
At 28 February 2023 12,202 15,682 9,730 37,614
Charge for the financial year 3,456 1,814 3,291 8,561
Disposals 0 0 ( 1,478) ( 1,478)
At 27 February 2024 15,658 17,496 11,543 44,697
Net book value
At 27 February 2024 11,107 5,444 6,527 23,078
At 27 February 2023 13,084 7,258 5,482 25,824

4. Debtors

2024 2023
£ £
Trade debtors 0 6,381

5. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 6,586 6,415
Other creditors 43,875 44,757
50,461 51,172