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REGISTERED NUMBER: 11104395 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

FOUNDRY LOUGHBOROUGH LIMITED

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FOUNDRY LOUGHBOROUGH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Mr A Gupta
Mrs N R Gupta



REGISTERED OFFICE: c/o Michael Heaven & Associates Limited
47 Calthorpe Road
Edgbaston
BIRMINGHAM
West Midlands
B15 1TH



REGISTERED NUMBER: 11104395 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: Lloyds Bank PLC
Town Square Stevenage
3 Town Square
Stevenage
Hertfordshire
SG1 1BG



INCORPORATED: 8th December 2017

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 549 1,481
Investment property 5 3,600,000 3,600,000
3,600,549 3,601,481

CURRENT ASSETS
Debtors 255,696 243,962
Cash at bank 41,149 11,265
296,845 255,227
CREDITORS
Amounts falling due within one year 700,099 2,025,833
NET CURRENT LIABILITIES (403,254 ) (1,770,606 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,197,295

1,830,875

CREDITORS
Amounts falling due after more than one
year

(1,353,892

)

(24,946

)

PROVISIONS FOR LIABILITIES 8 (372,177 ) (420,548 )
NET ASSETS 1,471,226 1,385,381

CAPITAL AND RESERVES
Called up share capital 9 100 100
Undistributable revenue
reserve 1,495,833 1,447,462
Retained earnings (24,707 ) (62,181 )
SHAREHOLDERS' FUNDS 1,471,226 1,385,381

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23rd January 2025 and were signed on its behalf by:





Mr A Gupta - Director


FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Foundry Loughborough 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 as modified by the revaluation of certain assets.

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.
Computer equipment - 25% on cost

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties.

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.


FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. ACCOUNTING POLICIES - continued
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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023
and 30th April 2024 6,814
DEPRECIATION
At 1st May 2023 5,333
Charge for year 932
At 30th April 2024 6,265
NET BOOK VALUE
At 30th April 2024 549
At 30th April 2023 1,481

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 3,600,000
NET BOOK VALUE
At 30th April 2024 3,600,000
At 30th April 2023 3,600,000

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2019 1,142,483
Valuation in 2020 533,333
Valuation in 2021 223,654
Valuation in 2022 (6,460 )
Valuation in 2023 (25,000 )
Cost 1,731,990
3,600,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,731,990 1,731,990

The investment property was valued on an open market basis on 31st August 2023 by Sanderson Weatherall .

In the director's opinion the current carrying value of the investment properties are reflective of their current market value.

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


6. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 23,695 1,400,137

Amounts falling due between one and two years:
Bank loans 25,003 10,140

Amounts falling due between two and five years:
Bank loans 1,328,889 14,806

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,377,587 1,425,083

There are fixed and floating charges over the company including charges against the investment property. There was a refinance in October 2023 refinancing £1.35m of the above loans.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 372,177 420,548

Deferred
tax
£   
Balance at 1st May 2023 420,548
Movement (48,371 )
Balance at 30th April 2024 372,177

FOUNDRY LOUGHBOROUGH LIMITED (REGISTERED NUMBER: 11104395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


8. PROVISIONS FOR LIABILITIES - continued

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months is recognised. The provision is measured at the salary cost payable for the period of absence.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100

10. RELATED PARTY DISCLOSURES

As at the year end the amount due to the director totalled £579,296. The loan was interest free and repayable upon demand.