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Registration number: 13298380

Prepared for the registrar

Foundry Zero Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

Foundry Zero Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Foundry Zero Ltd

(Registration number: 13298380)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

467,278

254,682

Current assets

 

Debtors

5

494,580

523,550

Cash at bank and in hand

 

1,051,906

745,851

 

1,546,486

1,269,401

Creditors: Amounts falling due within one year

6

(416,008)

(429,748)

Net current assets

 

1,130,478

839,653

Total assets less current liabilities

 

1,597,756

1,094,335

Deferred tax liabilities

7

(78,054)

(40,597)

Net assets

 

1,519,702

1,053,738

Capital and reserves

 

Called up share capital

8

738

729

Share premium reserve

4,194

2,097

Other reserves

2,808

4,914

Retained earnings

1,511,962

1,045,998

Shareholders' funds

 

1,519,702

1,053,738

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2025 and signed on its behalf by:
 


W C Buchanan
Director

 

Foundry Zero Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
United Kingdom

The principal place of business is:
Eagle Tower
Montpellier Drive
Cheltenham
GL50 1TA
United Kingdom

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Foundry Zero Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

33.33% straight line

Computer equipment

33.33% straight line

Leasehold improvements

5% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Foundry Zero Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The company operates an equity-settled, share based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the services received is measured by reference to the estimated fair value at the grant date of the equity instruments and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated based on an estimate of market value of the option specific to the company, which takes into account the liquidity of the shares and risk profile of the company. The total amount expenses is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2024 - 12).

 

Foundry Zero Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

 

4

Tangible assets

Leasehold improvements
£

Computer equipment
 £

Plant and equipment
 £

Total
£

Cost

At 1 April 2024

207,871

72,411

2,852

283,134

Additions

239,616

35,593

40,079

315,288

At 31 March 2025

447,487

108,004

42,931

598,422

Depreciation

At 1 April 2024

-

27,223

1,229

28,452

Charge for the year

65,089

28,577

9,026

102,692

At 31 March 2025

65,089

55,800

10,255

131,144

Carrying amount

At 31 March 2025

382,398

52,204

32,676

467,278

At 31 March 2024

207,871

45,188

1,623

254,682

 

5

Debtors

2025
£

2024
£

Trade debtors

434,988

499,745

Prepayments

52,300

21,019

Other debtors

7,292

2,786

494,580

523,550

 

6

Creditors

2025
£

2024
£

Due within one year

Trade creditors

6,035

140,694

Taxation and social security

280,567

236,443

Accruals

8,902

44,040

Other creditors

469

903

Corporation tax liability

120,035

7,668

416,008

429,748

 

Foundry Zero Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

 

7

Deferred tax

Deferred tax assets and liabilities

2025

Liability
£

Fixed asset timing differences

68,613

68,613

2024

Liability
£

Fixed asset timing differences

40,597

40,597

 

8

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary A shares of £1 each

30

30

30

30

Ordinary B shares of £1 each

690

690

690

690

Ordinary C shares of £1 each

18

18

9

9

 

738

738

729

729

New shares allotted

During the year, 9 Ordinary C shares having an aggregate value of £9, were allotted for an aggregate consideration of £2,106.

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

114,870

-

Later than one year and not later than five years

114,870

-

Later than five years

268,030

-

497,770

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £114,870 (2024 - £Nil).