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Registered number: 10074930
Foretell Digital Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
GC Accountancy Management Service Ltd
Howes Farm Office
Doddinghurst Road Pilgrims Hatch
Brentwood
Essex
CM15 0SG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10074930
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,893 28,189
15,893 28,189
CURRENT ASSETS
Debtors 5 5,432 1,772
Cash at bank and in hand 631 5,776
6,063 7,548
Creditors: Amounts Falling Due Within One Year 6 (180,969 ) (176,146 )
NET CURRENT ASSETS (LIABILITIES) (174,906 ) (168,598 )
TOTAL ASSETS LESS CURRENT LIABILITIES (159,013 ) (140,409 )
Creditors: Amounts Falling Due After More Than One Year 7 (60,386 ) (36,485 )
NET LIABILITIES (219,399 ) (176,894 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (219,400 ) (176,895 )
SHAREHOLDERS' FUNDS (219,399) (176,894)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Simpson
Director
10/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Foretell Digital Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10074930 . The registered office is 17 Eckersley Road Industrial Estate, Chelmsford, , Essex, EnglanD, CM1 1SL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Straightline base
Leasehold Straightline base
Plant & Machinery Reducing Balanceing method
Motor Vehicles Reducing Balanceing method
Fixtures & Fittings Reducing Balanceing method
Computer Equipment Reducing Balanceing method
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 49,945 11,699 4,082 65,726
Additions - - 1,554 1,554
As at 31 March 2024 49,945 11,699 5,636 67,280
...CONTINUED
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Page 4
Depreciation
As at 1 April 2023 29,967 5,676 1,894 37,537
Provided during the period 9,989 2,925 936 13,850
As at 31 March 2024 39,956 8,601 2,830 51,387
Net Book Value
As at 31 March 2024 9,989 3,098 2,806 15,893
As at 1 April 2023 19,978 6,023 2,188 28,189
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,432 1,772
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,838 7,852
Bank loans and overdrafts 8,177 5,916
Other creditors 152,192 148,576
Taxation and social security 15,762 13,802
180,969 176,146
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,954 36,485
Amounts owed to participating interests 29,432 -
60,386 36,485
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4