REGISTERED NUMBER: 07139236 (England and Wales)

FOUNDATION PROPERTY SERVICES (KENT)

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R S Fletcher

Mrs J M Fletcher

REGISTERED OFFICE:

Suite 1, 2nd Floor

3 Jubilee Way

FAVERSHAM

Kent

ME13 8GD

REGISTERED NUMBER:

07139236 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Building 1063

Cornforth Drive

Kent Science Park

Sittingbourne

Kent

ME9 8PX

FIXED ASSETS

Tangible assets

5

22,242

13,856

CURRENT ASSETS

Debtors

6

296,040

295,905

Cash at bank

62,430

18,942

358,470

314,847

CREDITORS

Amounts falling due within one year

7

153,381

98,510

NET CURRENT ASSETS

205,089

216,337

TOTAL ASSETS LESS CURRENT LIABILITIES

227,331

230,193

CREDITORS

Amounts falling due after more than one year

8

(170,872

)

(158,391

)

PROVISIONS FOR LIABILITIES

(2,475

)

(3,004

)

NET ASSETS

53,984

68,798

CAPITAL AND RESERVES

Called up share capital

9

1

1

Capital redemption reserve

1

1

Retained earnings

53,982

68,796

SHAREHOLDERS' FUNDS

53,984

68,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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

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 1 December 2025 and were signed on its behalf by:

Mrs J M Fletcher - Director

1.	STATUTORY INFORMATION

Foundation Property Services (Kent) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

Turnover

Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment - 25% on a straight line basis

Fixtures and fittings - 25% on a straight line basis

Leasehold improvements - on a straight line basis over the remaining term of the lease, estimated to be 8 years

Government grants

Government grants are recognised in the period they relate to once the conditions of the grant are met and it is probable the grant will be received and measured reliably. Government grants are shown within other operating income.

Financial instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 10 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Office

and

property

equipment

fittings

Totals

£

£

£

£

COST

At 1 April 2024

-

31,822

8,190

40,012

Additions

10,000

5,833

922

16,755

At 31 March 2025

10,000

37,655

9,112

56,767

DEPRECIATION

At 1 April 2024

-

21,621

4,535

26,156

Charge for year

104

6,243

2,022

8,369

At 31 March 2025

104

27,864

6,557

34,525

NET BOOK VALUE

At 31 March 2025

9,896

9,791

2,555

22,242

At 31 March 2024

-

10,201

3,655

13,856

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

41,583

53,257

Other debtors

-

28

Associated company loan

234,853

232,959

Prepayments

19,604

9,661

296,040

295,905

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

18,317

31,170

Trade creditors

30,399

22,536

Other taxes and PAYE taxes

97,699

35,391

Other creditors

3,209

4,420

Directors' Current Accounts

241

262

Accrued expenses

3,516

4,731

153,381

98,510

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

23,717

38,102

Bank loans - 2-5 years

110,370

112,675

Bank loans more 5 yr by instal

36,785

7,614

170,872

158,391

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

36,785

7,614

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary A shares

.01

1

1

33

Ordinary B shares

.01

-

-

1

1

On 30 April 2019 the company bought back 67 of the ordinary B shares, this reduced the B shares from 100 to 33.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by its Directors.