Silverfin false false 30/06/2024 01/07/2023 30/06/2024 P A Astley 14/02/2025 19/06/2015 R I Booth 30/10/2023 A L Devlin 30/10/2023 19/06/2015 24 March 2025 The principal activity of the company continued to be that of foam cutting. 09648593 2024-06-30 09648593 bus:Director1 2024-06-30 09648593 bus:Director2 2024-06-30 09648593 bus:Director3 2024-06-30 09648593 2023-06-30 09648593 core:CurrentFinancialInstruments 2024-06-30 09648593 core:CurrentFinancialInstruments 2023-06-30 09648593 core:Non-currentFinancialInstruments 2024-06-30 09648593 core:Non-currentFinancialInstruments 2023-06-30 09648593 core:ShareCapital 2024-06-30 09648593 core:ShareCapital 2023-06-30 09648593 core:RetainedEarningsAccumulatedLosses 2024-06-30 09648593 core:RetainedEarningsAccumulatedLosses 2023-06-30 09648593 core:Goodwill 2023-06-30 09648593 core:Goodwill 2024-06-30 09648593 core:OtherPropertyPlantEquipment 2023-06-30 09648593 core:OtherPropertyPlantEquipment 2024-06-30 09648593 2023-07-01 2024-06-30 09648593 bus:FilletedAccounts 2023-07-01 2024-06-30 09648593 bus:SmallEntities 2023-07-01 2024-06-30 09648593 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09648593 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09648593 bus:Director1 2023-07-01 2024-06-30 09648593 bus:Director2 2023-07-01 2024-06-30 09648593 bus:Director3 2023-07-01 2024-06-30 09648593 core:Goodwill core:TopRangeValue 2023-07-01 2024-06-30 09648593 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-07-01 2024-06-30 09648593 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-07-01 2024-06-30 09648593 2022-07-01 2023-06-30 09648593 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 09648593 (England and Wales)

J AND A FOAM LIMITED

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

J AND A FOAM LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

J AND A FOAM LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
J AND A FOAM LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
DIRECTOR P A Astley (Resigned 14 February 2025)
R I Booth (Appointed 30 October 2023)
A L Devlin (Resigned 30 October 2023)
REGISTERED OFFICE Unit 20 Philips Road
Blackburn
BB1 5NA
United Kingdom
COMPANY NUMBER 09648593 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
J AND A FOAM LIMITED

BALANCE SHEET

AS AT 30 JUNE 2024
J AND A FOAM LIMITED

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 125,023 32,830
125,023 32,830
Current assets
Stocks 38,014 23,000
Debtors 5 142,908 180,101
Cash at bank and in hand 24,221 19,853
205,143 222,954
Creditors: amounts falling due within one year 6 ( 288,762) ( 194,645)
Net current (liabilities)/assets (83,619) 28,309
Total assets less current liabilities 41,404 61,139
Creditors: amounts falling due after more than one year 7 ( 9,167) ( 19,167)
Provision for liabilities ( 13,834) ( 6,566)
Net assets 18,403 35,406
Capital and reserves
Called-up share capital 100 100
Profit and loss account 18,303 35,306
Total shareholders' funds 18,403 35,406

For the financial year ending 30 June 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 J and A Foam Limited (registered number: 09648593) were approved and authorised for issue by the Director on 24 March 2025. They were signed on its behalf by:

R I Booth
Director
J AND A FOAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
J AND A FOAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

J and A Foam 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 Unit 20 Philips Road, Blackburn, BB1 5NA, 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 £.

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.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
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. 4 - 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 11

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 25,000 25,000
At 30 June 2024 25,000 25,000
Accumulated amortisation
At 01 July 2023 25,000 25,000
At 30 June 2024 25,000 25,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 179,181 179,181
Additions 115,056 115,056
Disposals ( 4,100) ( 4,100)
At 30 June 2024 290,137 290,137
Accumulated depreciation
At 01 July 2023 146,351 146,351
Charge for the financial year 20,403 20,403
Disposals ( 1,640) ( 1,640)
At 30 June 2024 165,114 165,114
Net book value
At 30 June 2024 125,023 125,023
At 30 June 2023 32,830 32,830

5. Debtors

2024 2023
£ £
Trade debtors 126,477 173,269
Other debtors 16,431 6,832
142,908 180,101

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors 97,278 167,713
Taxation and social security 15,903 15,192
Other creditors 165,581 1,740
288,762 194,645

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 9,167 19,167