| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 OCTOBER 2024 |
| FOR |
| FOLDBOND LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 OCTOBER 2024 |
| FOR |
| FOLDBOND LIMITED |
| FOLDBOND LIMITED (REGISTERED NUMBER: 02013557) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FOLDBOND LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 OCTOBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 7 St John's Road |
| Harrow |
| Middlesex |
| HA1 2EY |
| FOLDBOND LIMITED (REGISTERED NUMBER: 02013557) |
| BALANCE SHEET |
| 29 OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FOLDBOND LIMITED (REGISTERED NUMBER: 02013557) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Foldbond Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Intangible assets |
| Cryptocurrency is recognized as an intangible asset and measured initially at cost. Subsequent to initial recognition, cryptocurrency is carried using the revaluation model as permitted under Section 18 of FRS 102, where there is an active market for the asset. The asset is revalued to its fair value at each reporting date, with revaluation gains recognized in other comprehensive income and accumulated in Equity - Other reserves. |
| A decrease in carrying amount is recognized in profit or loss unless it reverses a previous revaluation surplus for the same asset, in which case it is charged to the extent of the credit balance existing in the other reserve for that asset. |
| Cryptocurrency is considered to have an indefinite useful life under FRS 102 and is not amortized. However, it is tested for impairment annually or when there is an indication of impairment. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Stocks |
| Stock represents property acquired for resale together with work in progress on the property. These assets are included at the lower of cost and net realisable value. Cost for this purpose comprises the purchase cost of the land and building and improvement expenditure. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss accounts, 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| FOLDBOND LIMITED (REGISTERED NUMBER: 02013557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 OCTOBER 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST OR VALUATION |
| At 30 October 2023 |
| Revaluations |
| At 29 October 2024 |
| NET BOOK VALUE |
| At 29 October 2024 |
| At 29 October 2023 |
| Cost or valuation at 29 October 2024 is represented by: |
| Other |
| intangible |
| assets |
| £ |
| Valuation in 2024 | 18,625 |
| Cost | 10,651 |
| 29,276 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 30 October 2023 |
| and 29 October 2024 |
| DEPRECIATION |
| At 30 October 2023 |
| and 29 October 2024 |
| NET BOOK VALUE |
| At 29 October 2024 |
| At 29 October 2023 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by connected company |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Corporation Tax payable |
| Other creditors |
| Director's current account | 887,196 | 906,083 |
| Accrued expenses |
| FOLDBOND LIMITED (REGISTERED NUMBER: 02013557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 OCTOBER 2024 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| 9. | RELATED PARTY DISCLOSURES |
| As at the balance sheet date the company owed £887,196 (2023: £906,083) to the director of the company. The loan is interest free and repayable on demand. |
| As at 31 October 2024, Chadworth Investments Ltd owed £150,000 (2023: £150,000) to Foldbond Limited. |
| Foldbond Limited and Chadworth Investments Limited are connected companies by virtue of having common director. |
| 10. | CONTROLLING PARTY |
| The company is controlled by the director, Mrs B Mistry by virtue of holding 100% of the issued share capital of the company. |