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Company No: 13648993 (England and Wales)

THE FOOT COMPANY SKIPTON LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

THE FOOT COMPANY SKIPTON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

THE FOOT COMPANY SKIPTON LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
THE FOOT COMPANY SKIPTON LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
DIRECTOR A J Mayo
REGISTERED OFFICE C/O Pm+M First Floor
Sandringham House
Hollins Brook Park
Pilsworth Road
Bury
BL9 8RN
United Kingdom
COMPANY NUMBER 13648993 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
First Floor
Sandringham House
Hollins Brook Park
Pilsworth Road
Bury
BL9 8RN
THE FOOT COMPANY SKIPTON LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
THE FOOT COMPANY SKIPTON LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 0 4,720
0 4,720
Current assets
Debtors 5 0 1,000
Cash at bank and in hand 293 2,370
293 3,370
Creditors: amounts falling due within one year 6 ( 1,356) ( 8,256)
Net current liabilities (1,063) (4,886)
Total assets less current liabilities (1,063) (166)
Provision for liabilities 0 ( 897)
Net liabilities ( 1,063) ( 1,063)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 1,064 ) ( 1,064 )
Total shareholder's deficit ( 1,063) ( 1,063)

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Foot Company Skipton Limited (registered number: 13648993) were approved and authorised for issue by the Director on 27 January 2025. They were signed on its behalf by:

A J Mayo
Director
THE FOOT COMPANY SKIPTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
THE FOOT COMPANY SKIPTON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 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

The Foot Company Skipton 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 C/O Pm+M First Floor, Sandringham House, , Hollins Brook Park, Pilsworth Road, Bury, BL9 8RN, United Kingdom.

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 £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources and support from other related entities to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

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

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 May 2023 5,900 5,900
Disposals ( 5,900) ( 5,900)
At 30 April 2024 0 0
Accumulated depreciation
At 01 May 2023 1,180 1,180
Disposals ( 1,180) ( 1,180)
At 30 April 2024 0 0
Net book value
At 30 April 2024 0 0
At 30 April 2023 4,720 4,720

During the year, assets were transferred at net book value to a company under common control

5. Debtors

2024 2023
£ £
Amounts owed by related parties 0 1,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to related parties 1,356 7,801
Taxation and social security 0 ( 420)
Other creditors 0 875
1,356 8,256

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 37,625 45,100

8. Related Party Transactions

Included in amounts due to related parties (creditors) is £1,356 due to Feet Covered Limited. A company under common control.