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REGISTERED NUMBER: 02517992 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FOLEY LIMITED

FOLEY LIMITED (REGISTERED NUMBER: 02517992)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

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Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FOLEY LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







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DIRECTORS: Mr J P Foley
Ms C Y M Foley





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 02517992 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

FOLEY LIMITED (REGISTERED NUMBER: 02517992)

ABRIDGED BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
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FIXED ASSETS
Tangible assets 4 37,537 24,030

CURRENT ASSETS
Stocks 15,620 23,450
Debtors 247,419 260,564
Cash at bank 17,707 234
280,746 284,248
CREDITORS
Amounts falling due within one year 262,502 211,617
NET CURRENT ASSETS 18,244 72,631
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,781

96,661

CREDITORS
Amounts falling due after more than one year 77,770 25,982
NET (LIABILITIES)/ASSETS (21,989 ) 70,679

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 15,148 15,148
Retained earnings (37,139 ) 55,529
SHAREHOLDERS' FUNDS (21,989 ) 70,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

FOLEY LIMITED (REGISTERED NUMBER: 02517992)

ABRIDGED BALANCE SHEET - continued
31 December 2023

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The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 August 2025 and were signed on its behalf by:





Mr J P Foley - Director


FOLEY LIMITED (REGISTERED NUMBER: 02517992)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023
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1. STATUTORY INFORMATION

Foley 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Turnover
Turnover represents the net invoiced sale of services, excluding value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


FOLEY LIMITED (REGISTERED NUMBER: 02517992)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

FOLEY LIMITED (REGISTERED NUMBER: 02517992)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023
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4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 62,595
Additions 50,020
Disposals (42,669 )
At 31 December 2023 69,946
DEPRECIATION
At 1 January 2023 38,565
Charge for year 12,512
Eliminated on disposal (18,668 )
At 31 December 2023 32,409
NET BOOK VALUE
At 31 December 2023 37,537
At 31 December 2022 24,030

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 42,669
Additions 50,020
Disposals (42,669 )
At 31 December 2023 50,020
DEPRECIATION
At 1 January 2023 18,668
Charge for year 12,505
Eliminated on disposal (18,668 )
At 31 December 2023 12,505
NET BOOK VALUE
At 31 December 2023 37,515
At 31 December 2022 24,001

FOLEY LIMITED (REGISTERED NUMBER: 02517992)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023
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5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 47,118 18,732

Hire purchase contracts are secured against the individual assets acquired under the lease contracts.

6. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £30,281 (2022: £35,533) to Mr J P Foley, a director.