FOCUS AWARDS LIMITED


Director	COLE, Joshua


Registered Address	Silicon House Farfield Park
	Manvers
	Rotherham
	S63 5DB


Registered Number	07494122 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Vehicles	25	-
Office Equipment	-	5

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		9

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	6,000	6,000
At 31 March 25	6,000	6,000
Amortisation and impairment
At 01 April 24	6,000	6,000
At 31 March 25	6,000	6,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Vehicles	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 24	139,318	99,107	238,425
Additions	37,499	7,009	44,508
At 31 March 25	176,817	106,116	282,933
Depreciation and impairment
At 01 April 24	46,799	63,792	110,591
Charge for year	25,473	5,952	31,425
At 31 March 25	72,272	69,744	142,016
Net book value
At 31 March 25	104,545	36,372	140,917
At 31 March 24	92,519	35,315	127,834

5.	Stocks

	2025	2024
	£	£
Other stocks	750	750
Total	750	750

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	26,928	22,750
Amounts owed by associates and joint ventures / participating interests	118,444	120,150
Other debtors	180,155	149,900
Prepayments and accrued income	10,257	-
Total	335,784	292,800

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	19,065	64,027
Bank borrowings and overdrafts	11,056	11,305
Taxation and social security	200,823	204,786
Finance lease and HP contracts	7,000	-
Other creditors	875	404
Accrued liabilities and deferred income	442,933	300,966
Total	681,752	581,488

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	759	10,751
Other creditors	26,833	-
Total	27,592	10,751

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	26,833		-


	Hire purchase creditors are secured by the asset to which they relate.

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	35,229	31,958
Total	35,229	31,958

11.	Related party transactions
	During the year Focus Awards Limited has loaned monies to related party companies. As at the balance sheet date the amounts outstanding from these companies was £118,444 (2024 - £120,150). Also, during the year loans to further company's of £272,609 (2024 - £168,000) were written off.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		140,917		127,834
			140,917		127,834
Current assets
Stocks	5	750		750
Debtors	6	335,784		292,800
Cash at bank and on hand		270,010		209,411
		606,544		502,961
Creditors amounts falling due within one year	7	(681,752)		(581,488)
Net current assets (liabilities)			(75,208)		(78,527)
Total assets less current liabilities			65,709		49,307
Creditors amounts falling due after one year	8		(27,592)		(10,751)
Provisions for liabilities	10		(35,229)		(31,958)
Net assets			2,888		6,598
Capital and reserves
Called up share capital			200		200
Profit and loss account			2,688		6,398
Shareholders' funds			2,888		6,598