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REGISTERED NUMBER: 00624159 (England and Wales)












FOSTER & JONES (WALSALL) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






FOSTER & JONES (WALSALL) LIMITED (REGISTERED NUMBER: 00624159)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


FOSTER & JONES (WALSALL) LIMITED (REGISTERED NUMBER: 00624159)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,054 1,180
Investment property 5 110,000 110,000
111,054 111,180

CURRENT ASSETS
Debtors 6 1,600 1,827
Cash at bank and in hand 4,343 1,316
5,943 3,143
CREDITORS
Amounts falling due within one year 7 23,139 24,604
NET CURRENT LIABILITIES (17,196 ) (21,461 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,858

89,719

CAPITAL AND RESERVES
Called up share capital 8 2,540 2,540
Fair value reserve 9 52,468 52,468
Retained earnings 38,850 34,711
SHAREHOLDERS' FUNDS 93,858 89,719

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 January 2025 and were signed by:



Mr P A Foster - Director


FOSTER & JONES (WALSALL) LIMITED (REGISTERED NUMBER: 00624159)

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

1. STATUTORY INFORMATION

Foster & Jones (Walsall) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00624159

Registered office: Argent Works
Bott Lane
Walsall
West Midlands
WS1 2JJ

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents rent receivable.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.

Interest income is recognised using the effective interest method.

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 - 10% on reducing balance
Fixtures and fittings - 5% on reducing balance
Motor vehicles - 25% reducing balance

Investment property
Investment property is shown at the director's assessment of fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss. A transfer is then made between the profit and loss account and the fair value reserve for the amount of the surplus or deficit on revaluation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


FOSTER & JONES (WALSALL) LIMITED (REGISTERED NUMBER: 00624159)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 6,320 699 12,622 19,641
DEPRECIATION
At 1 May 2023 5,348 585 12,528 18,461
Charge for year 97 6 23 126
At 30 April 2024 5,445 591 12,551 18,587
NET BOOK VALUE
At 30 April 2024 875 108 71 1,054
At 30 April 2023 972 114 94 1,180

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 110,000
NET BOOK VALUE
At 30 April 2024 110,000
At 30 April 2023 110,000

The investment properties are shown in the accounts at the director's assessment of fair value, on an open market basis.

There is no deferred tax payable on gains on revalued investment properties if the assets were sold at the values shown.

If the investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been £57,532 (2023 - £57,532).

FOSTER & JONES (WALSALL) LIMITED (REGISTERED NUMBER: 00624159)

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

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 52,468
Cost 57,532
110,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,600 1,827

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 23,139 24,604

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,540 Ordinary shares £1 2,540 2,540

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 52,468