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REGISTERED NUMBER: 01357912 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Frank S. Foot & Son (Machinery) Limited

Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frank S. Foot & Son (Machinery) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr G R F Foot
Mr B S Foot





SECRETARY: Mrs P Sims





REGISTERED OFFICE: 12, West Links Tollgate, Chandler's Ford
Eastleigh
Hampshire
SO53 3TG





REGISTERED NUMBER: 01357912 (England and Wales)





ACCOUNTANTS: Talbot Accounting Solutions LLP
Bartley Cottage
Ringwood Road
Bartley
Southampton
Hampshire
SO40 7LD

Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 518,989 487,019

CURRENT ASSETS
Stocks 532,000 371,890
Debtors 5 281,780 553,527
Cash at bank and in hand 277,004 312,661
1,090,784 1,238,078
CREDITORS
Amounts falling due within one year 6 51,333 127,209
NET CURRENT ASSETS 1,039,451 1,110,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,558,440

1,597,888

CREDITORS
Amounts falling due after more than one
year

7

(38,029

)

(66,118

)

PROVISIONS FOR LIABILITIES (9,317 ) (1,034 )
NET ASSETS 1,511,094 1,530,736

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 1,506,094 1,525,736
1,511,094 1,530,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)

Balance Sheet - continued
31 October 2024


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 Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:




Mr G R F Foot - Director



Mr B S Foot - Director


Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Frank S. Foot & Son (Machinery) Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold buildingsStraight line over 50 years/over 15 years
Plant and Machinery25% Reducing balance
Fixtures, fittings and equipment25% Reducing balance
Motor vehicles25% Reducing balance

Freehold land is not depreciated.

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 charge to profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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.

Classification of financial liabilities
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.

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.


Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued
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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023 497,485 39,366 536,851
Additions - 40,000 40,000
At 31 October 2024 497,485 79,366 576,851
DEPRECIATION
At 1 November 2023 14,602 35,230 49,832
Charge for year 1,162 6,868 8,030
At 31 October 2024 15,764 42,098 57,862
NET BOOK VALUE
At 31 October 2024 481,721 37,268 518,989
At 31 October 2023 482,883 4,136 487,019

Frank S. Foot & Son (Machinery) Limited (Registered number: 01357912)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Freehold land and buildings with a carrying amount of £481,721(2023 - £482,883) have been pledged to secure borrowings of the company. The company is prohibited from pledging these assets as security for other borrowings or to sell them to another entity.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 268,265 486,886
Other debtors 13,515 66,641
281,780 553,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 18,086 18,086
Trade creditors 11,094 13,042
Taxation and social security 1,284 32,393
Other creditors 20,869 63,688
51,333 127,209

Included within the bank loans above is a loan secured against freehold land and building assets owned by the company. These assets are prohibited from being pledged as security for other borrowings or to sell them to another entity. The company has current secured bank loans totalling £8,086 (2023 - £8,086).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans 38,029 66,118

Included within the bank loans above is a loan secured against freehold land and building assets owned by the company. These assets are prohibited from being pledged as security for other borrowings or to sell them to another entity. The company has non-current secured bank loans totalling £30,564 (2023 - £48,618).