Company registration number 11177010 (England and Wales)
THE FOUNDRY PERSONAL MANAGEMENT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
THE FOUNDRY PERSONAL MANAGEMENT LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
THE FOUNDRY PERSONAL MANAGEMENT LTD
COMPANY INFORMATION
Director
Mr R Iosco-Holmes
Company number
11177010
Registered office
Office 359
First Floor
Salisbury House
London Wall
EC2M 5QQ
Accountants
Theataccounts Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE FOUNDRY PERSONAL MANAGEMENT LTD
ENTERTAINMENT ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE FOUNDRY PERSONAL MANAGEMENT LTD FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Foundry Personal Management Ltd for the year ended 31 January 2025 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
It is your duty to ensure that The Foundry Personal Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Foundry Personal Management Ltd. You consider that The Foundry Personal Management Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Foundry Personal Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Theataccounts Limited
9 June 2025
Entertainment Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE FOUNDRY PERSONAL MANAGEMENT LTD
BALANCE SHEET
AS AT 31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,757
4,557
Current assets
Debtors
4
69,976
46,487
Cash at bank and in hand
32,057
16,854
102,033
63,341
Creditors: amounts falling due within one year
5
(32,123)
(15,827)
Net current assets
69,910
47,514
Total assets less current liabilities
72,667
52,071
Creditors: amounts falling due after more than one year
(27,386)
(32,646)
Net assets
45,281
19,425
Capital and reserves
Called up share capital
7
300
300
Share premium account
49,970
49,970
Profit and loss reserves
(4,989)
(30,845)
Total equity
45,281
19,425
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 9 June 2025
Mr R Iosco-Holmes
Director
Company registration number 11177010 (England and Wales)
THE FOUNDRY PERSONAL MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
The Foundry Personal Management Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Office 359, First Floor, Salisbury House, London Wall, United Kingdom, EC2M 5QQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.4
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% reducing balance
Computers
33% on cost
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE FOUNDRY PERSONAL MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
3
3
THE FOUNDRY PERSONAL MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
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3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024 and 31 January 2025
10,946
Depreciation and impairment
At 1 February 2024
6,389
Depreciation charged in the year
1,800
At 31 January 2025
8,189
Carrying amount
At 31 January 2025
2,757
At 31 January 2024
4,557
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
69,976
46,487
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,639
6,639
Trade creditors
2,310
2,282
Taxation and social security
11,205
4,265
Other creditors
11,969
2,641
32,123
15,827
6
Secured debts
The following secured debts are included within creditors:
2025
2024
£
£
Bank loans
34,025
39,285
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
THE FOUNDRY PERSONAL MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
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7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
270
270
270
270
Ordinary B of £1 each
30
30
30
30
300
300
300
300
8
Ultimate controlling party
The ultimate controlling party is Mr R Iosco-Holmes.