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REGISTERED NUMBER: 08966902 (England and Wales)












Financial Statements

for the Year Ended 31st March 2024

for

FOLEY BUILDERS LTD

FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Contents of the Financial Statements
for the year ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOLEY BUILDERS LTD

Company Information
for the year ended 31st March 2024







DIRECTORS: Mrs T A Foley
D M Foley





REGISTERED OFFICE: 1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR





REGISTERED NUMBER: 08966902 (England and Wales)





ACCOUNTANTS: Attenboroughs (Accountants) Limited
Chartered Certified Accountants
1 Tower House
Tower Centre
Hoddesdon
Hertfordshire
EN11 8UR

FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Balance Sheet
31st March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,683 8,911

CURRENT ASSETS
Stocks 5 250 250
Debtors 6 194,684 10,998
Cash at bank and in hand 105,956 152,899
300,890 164,147
CREDITORS
Amounts falling due within one year 7 202,365 146,857
NET CURRENT ASSETS 98,525 17,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,208

26,201

PROVISIONS FOR LIABILITIES 1,270 3,950
NET ASSETS 103,938 22,251

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 103,936 22,249
SHAREHOLDERS' FUNDS 103,938 22,251

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

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

FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Balance Sheet - continued
31st 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st November 2024 and were signed on its behalf by:





D M Foley - Director


FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Notes to the Financial Statements
for the year ended 31st March 2024


1. STATUTORY INFORMATION

Foley Builders Ltd 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.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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 2 (2023 - 2 ) .

FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 28,971 3,635 32,606
DEPRECIATION
At 1st April 2023 21,039 2,656 23,695
Charge for year 1,983 245 2,228
At 31st March 2024 23,022 2,901 25,923
NET BOOK VALUE
At 31st March 2024 5,949 734 6,683
At 31st March 2023 7,932 979 8,911

5. STOCKS
31/3/24 31/3/23
£    £   
Stocks 250 250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 194,684 10,998

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 55,341 16,712
Tax 30,981 4,181
Social security and other taxes 3,490 214
Net wages 2,060 1,984
VAT 81,551 43,021
Other creditors - 974
Directors' current accounts 26,317 30,616
Accruals and deferred income - 46,655
Accrued expenses 2,625 2,500
202,365 146,857

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
2 ordinary £1 2 2

FOLEY BUILDERS LTD (REGISTERED NUMBER: 08966902)

Notes to the Financial Statements - continued
for the year ended 31st March 2024


9. ULTIMATE CONTROLLING PARTY

The controlling party is D M Foley.