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COMPANY REGISTRATION NUMBER: 06746443
Fownd Limited
Filleted Unaudited Financial Statements
31 December 2024
Fownd Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
4
402,190
470,636
Cash at bank and in hand
37,555
48,055
---------
---------
439,745
518,691
Creditors: amounts falling due within one year
5
488,733
568,532
---------
---------
Net current liabilities
48,988
49,841
--------
--------
Total assets less current liabilities
( 48,988)
( 49,841)
--------
--------
Net liabilities
( 48,988)
( 49,841)
--------
--------
Capital and reserves
Called up share capital
102
102
Profit and loss account
( 49,090)
( 49,943)
--------
--------
Shareholders deficit
( 48,988)
( 49,841)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 April 2025 , and are signed on behalf of the board by:
Mr P A Talbot
Director
Company registration number: 06746443
Fownd Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Doolittle Yard, Ampthill, Bedfordshire, MK45 2NW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts are prepared on a going concern basis. The principal creditor remains the company's sole shareholder and that shareholder has noted that they will continue to support the operational requirements of the company.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2024
2023
£
£
Trade debtors
398,047
442,070
Amounts owed by group undertakings and undertakings in which the company has a participating interest
4,143
5,757
Other debtors
22,809
---------
---------
402,190
470,636
---------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
101,091
72,893
Amounts owed to group undertakings and undertakings in which the company has a participating interest
378,932
385,949
Corporation tax
200
1,713
Social security and other taxes
5,510
37,607
Other creditors
3,000
70,370
---------
---------
488,733
568,532
---------
---------