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Company No: 11133091 (England and Wales)

# FOUND POP LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

FOUND POP LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

FOUND POP LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 January 2025
FOUND POP LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 192,703 |  | 189,729
|  | 192,703 |  | 189,729
Current assets |  |  |  |
Debtors | 4 | 17,610 |  | 16,647
Cash at bank and in hand |  | 11,858 |  | 106
|  | 29,468 |  | 16,753
Creditors: amounts falling due within one year | 5 | ( 468,281) |  | ( 550,054)
Net current liabilities |  | (438,813) |  | (533,301)
Total assets less current liabilities |  | (246,110) |  | (343,572)
Creditors: amounts falling due after more than one year | 6 | ( 15,864) |  | ( 26,106)
Net liabilities |  | ( 261,974) |  | ( 369,678)
Capital and reserves |  |  |  |
Called-up share capital | 7 | 121 |  | 119
Share premium account |  | 1,475,267 |  | 1,275,269
Revaluation reserve |  | 81,000 |  | 81,000
Profit and loss account |  | ( 1,818,362 ) |  | ( 1,726,066 )
Total shareholders' deficit |  | ( 261,974) |  | ( 369,678)

For the financial year ending 31 January 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 financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Found Pop Limited (registered number: 11133091) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R M Found Director |

22 October 2025

FOUND POP LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
FOUND POP LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Found Pop Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is First Floor, 5 Fleet Place, London, EC4M 7RD, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

At the reporting date the company had net current liabilities amounting to £438,813 and total liabilities exceeded total assets by £261,974. Creditors included within current liabilities totalling £339,414 have confirmed that they will not seek repayment of their loans within twelve months of the financial statements being approved. Further, of these creditors £237,364 are amounts owed to the majority shareholder and associated companies, indicative of the support given to the company to date. The directors are also confident in the company's forecast future trading and its ability to raise future capital, if required, in order to allow the company to continue trading for the foreseeable future. Accordingly, the directors consider it is appropriate to prepare the financial statements on the going concern basis.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Revenue is recognised at 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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

##### Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

##### Taxation

Current tax
Current tax is provided at amounts expected to be recovered using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery | 1 - 8 years straight line
Office equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the company during the year, including directors | 5 |  | 4

#### 3. Tangible assets

| Plant and machinery |  | Office equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 February 2024 | 515,006 |  | 12,187 |  | 527,193
Additions | 47,967 |  | 6,350 |  | 54,317
At 31 January 2025 | 562,973 |  | 18,537 |  | 581,510
Accumulated depreciation |  |  |  |  |
At 01 February 2024 | 329,284 |  | 8,180 |  | 337,464
Charge for the financial year | 48,773 |  | 2,570 |  | 51,343
At 31 January 2025 | 378,057 |  | 10,750 |  | 388,807
Net book value |  |  |  |  |
At 31 January 2025 | 184,916 |  | 7,787 |  | 192,703
At 31 January 2024 | 185,722 |  | 4,007 |  | 189,729

In the prior year, the directors reviewed the useful economic life of the rental equipment. As the rental equipment is not being rented out on a full time basis, it was determined that they have a longer useful economic life than previously estimated. Equipment previously considered to have a useful economic life of 3 years is now estimated to be 6 years, and for rental equipment previously believed to have a useful economic life of 4 years, this is now estimated to be 8 years.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 3,105 |  | 5,268
Other debtors | 14,505 |  | 11,379
| 17,610 |  | 16,647

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts (secured) | 50,090 |  | 52,433
Trade creditors | 16,400 |  | 26,353
Amounts owed to related parties | 237,364 |  | 125,364
Other taxation and social security | 22,480 |  | 57,978
Other creditors | 141,947 |  | 287,926
| 468,281 |  | 550,054

The bank loan represents amounts loaned to the company under the Bounce Back Loan Scheme. There is a fixed repayment term of 6 years (of which 2 are remaining), interest is charged at 2.5% per annum and the loan is fully guaranteed by the UK Government.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 15,864 |  | 26,106

The bank loan represents amounts loaned to the company under the Bounce Back Loan Scheme. There is a fixed repayment term of 6 years (of which 2 are remaining), interest is charged at 2.5% per annum and the loan is fully guaranteed by the UK Government.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
12,019 Ordinary shares of £ 0.01 each (2024: 11,861 shares of £ 0.01 each) | 120 |  | 119

During the year, 158 Ordinary £0.01 shares were issued at a premium of £1,265.82 per share.

#### 8. Related party transactions

At the statement of financial position date the company owed £28,864 (2024: £116,864) to Found Associates Limited and £208,500 (2024: £8,500) to Found Property Limited. The loans are interest free and repayable on demand. R Found is a director and shareholder of the aforementioned companies.
At the statement of financial position date the company owed £102,050 (2024: £102,050) to Leonroan Limited, a shareholder of the company. This loan has an interest charge of 2.05% and is repayable on demand.