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REGISTERED NUMBER: 04457303 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Foliation Limited

Foliation Limited (Registered number: 04457303)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Foliation Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr J J Bishop





REGISTERED OFFICE: 1 The Flat
Forthampton Court
Forthampton
Gloucester
Gloucestershire
GL19 4RB





REGISTERED NUMBER: 04457303 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

Foliation Limited (Registered number: 04457303)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,060 6,934

CURRENT ASSETS
Stocks 5 18,630 19,059
Debtors 6 12,049 8,312
Cash at bank and in hand 1,468 3,869
32,147 31,240
CREDITORS
Amounts falling due within one year 7 143,115 110,966
NET CURRENT LIABILITIES (110,968 ) (79,726 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(95,908

)

(72,792

)

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 (95,910 ) (72,794 )
SHAREHOLDERS' FUNDS (95,908 ) (72,792 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:





Mr J J Bishop - Director


Foliation Limited (Registered number: 04457303)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Foliation 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Foliation Limited (Registered number: 04457303)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company continues to trade with the support of the director who does not envisage any going concern issues.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 6,557 19,983 583 27,123
Additions - 13,500 - 13,500
Disposals - (1,000 ) - (1,000 )
At 30 June 2024 6,557 32,483 583 39,623
DEPRECIATION
At 1 July 2023 5,564 14,042 583 20,189
Charge for year 198 4,860 - 5,058
Eliminated on disposal - (684 ) - (684 )
At 30 June 2024 5,762 18,218 583 24,563
NET BOOK VALUE
At 30 June 2024 795 14,265 - 15,060
At 30 June 2023 993 5,941 - 6,934

Foliation Limited (Registered number: 04457303)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 12,450
Transfer to ownership (12,450 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 9,496
Charge for year 738
Transfer to ownership (10,234 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 2,954

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 5,000 5,000
Work-in-progress 13,630 14,059
18,630 19,059

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 5,008 4,059
Prepayments 7,041 4,253
12,049 8,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 20,241 22,609
Hire purchase contracts - 1,027
Trade creditors 15,392 10,036
Social security and other taxes 1,677 2,001
VAT 13,341 7,758
Other creditors 48,900 20,000
Pension creditor 636 669
Directors' current accounts 41,428 45,366
Accrued expenses 1,500 1,500
143,115 110,966

Foliation Limited (Registered number: 04457303)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts - 1,027

The hire purchase is secured upon the fixed asset to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary £1 2 2

10. RESERVES
Retained
earnings
£   

At 1 July 2023 (72,794 )
Deficit for the year (23,116 )
At 30 June 2024 (95,910 )

11. RELATED PARTY DISCLOSURES

During the year the director, Mr J J Bishop, made net withdrawals from his account of £3,938. The balance on his account at 30 June 2024 was £41,428 in credit (2023 - £45.366).

12. ULTIMATE CONTROLLING PARTY

Mrs W Bishop and Mr J J Bishop, being mother and son, together form the ultimate controlling party by virtue of their holding all of the company's issued share capital.