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REGISTERED NUMBER: 13601028 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FOUNDED AI LTD

FOUNDED AI LTD (REGISTERED NUMBER: 13601028)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FOUNDED AI LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: Dr J M Clarke





REGISTERED OFFICE: Fraser Ross House
24 Broad Street
Stamford
Lincolnshire
PE9 1PJ





REGISTERED NUMBER: 13601028 (England and Wales)





ACCOUNTANTS: Brayshaw Morey
Certified Public Accountants
Fraser Ross House
24 Broad Street
Stamford
Lincolnshire
PE9 1PJ

FOUNDED AI LTD (REGISTERED NUMBER: 13601028)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £   
CURRENT ASSETS
Debtors 5 16 5,000
Cash at bank 458 4,290
474 9,290
CREDITORS
Amounts falling due within one year 6 88 2,763
NET CURRENT ASSETS 386 6,527
TOTAL ASSETS LESS CURRENT
LIABILITIES

386

6,527

CAPITAL AND RESERVES
Called up share capital 7 101 101
Retained earnings 8 285 6,426
SHAREHOLDERS' FUNDS 386 6,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 6 May 2025 and were signed by:





Dr J M Clarke - Director


FOUNDED AI LTD (REGISTERED NUMBER: 13601028)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Founded Ai Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors - 5,000
Other debtors 16 -
16 5,000

FOUNDED AI LTD (REGISTERED NUMBER: 13601028)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Taxation and social security (1,441 ) 1,592
Other creditors 1,529 1,171
88 2,763

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
10,000 Ordinary 1p 100 100
100 Ordinary A 1p 1 1
101 101

8. RESERVES
Retained
earnings
£   

At 1 October 2023 6,426
Deficit for the year (6,141 )
At 30 September 2024 285