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Registration number: 05911205

Foster Elan Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Foster Elan Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Foster Elan Limited

Company Information

Directors

Simon Foster

Catherine Foster

Company secretary

Simon Foster

Registered office

53a High Street
Esher
Surrey
KT10 9RQ

Accountants

Carbon Accountancy Limited
Chartered Accountants80-83 Long Lane
London
EC1A 9ET

 

Foster Elan Limited

(Registration number: 05911205)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

446

595

Current assets

 

Debtors

5

47,101

45,957

Cash at bank and in hand

 

55

9,120

 

47,156

55,077

Creditors: Amounts falling due within one year

6

(49,468)

(55,234)

Net current liabilities

 

(2,312)

(157)

Net (liabilities)/assets

 

(1,866)

438

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(1,867)

437

Shareholders' (deficit)/funds

 

(1,866)

438

For the financial year ending 31 August 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 May 2025 and signed on its behalf by:
 

.........................................
Simon Foster
Company secretary and director

 

Foster Elan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
53a High Street
Esher
Surrey
KT10 9RQ

These financial statements were authorised for issue by the Board on 19 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

There was a net deficiency of assets amounting to £1,866 which included an amount of £600 owed to other related companies. Based on the director's assessment of future performance and continued support from the shareholders the directors have prepared the accounts on a going basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Foster Elan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Foster Elan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Other tangible assets
 £

Total
£

Cost or valuation

At 1 September 2022

13,812

13,812

At 31 August 2023

13,812

13,812

Depreciation

At 1 September 2022

13,217

13,217

Charge for the year

149

149

At 31 August 2023

13,366

13,366

Carrying amount

At 31 August 2023

446

446

At 31 August 2022

595

595

5

Debtors

Current

2023
£

2022
£

Other debtors

47,101

45,957

 

47,101

45,957

 

Foster Elan Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,980

6,300

Taxation and social security

4,704

4,717

Accruals and deferred income

1,894

1,980

Other creditors

40,890

42,237

49,468

55,234

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Related party transactions

Included in other debtors is:

(a) £5,101 (2022 - £4,857) due from Urban Matrix Limited a company in which Simon Foster is both director and shareholder.
(b) £21,100 (2022 - £21,100) due from Urban Matrix Construction Limited a company in which Simon Foster is both director and shareholder.
(c) £20,900 (2022 - £20,000) due to Urban Matrix (Esher) LLP a company in which Simon Foster is both director and shareholder.

Included in other creditors is:

(a) £600 (2022 - £600) due to Urban Matrix Developments LLP a company in which Simon Foster is both director and shareholder.

The amounts are interest free and repayable on demand.