Foundry Associates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07920121

Foundry Associates Limited

Filleted Unaudited Financial Statements

31 March 2025

Foundry Associates Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Foundry Associates Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	26,074	26,999
Investments	6	18,502	18,502
		--------	--------
		44,576	45,501

Current assets

Debtors	7	9,200	22,945
Cash at bank and in hand		489,366	439,204
		---------	---------
		498,566	462,149

Creditors: amounts falling due within one year	8	21,451		24,862
		---------		---------
Net current assets			477,115		437,287
			---------		---------
Total assets less current liabilities			521,691		482,788

Provisions

Taxation including deferred tax	6,518	6,750
	---------	---------
Net assets	515,173	476,038
	---------	---------

Capital and reserves

Called up share capital	9	100	100
Profit and loss account		515,073	475,938
		---------	---------
Shareholders funds		515,173	476,038
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

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

Foundry Associates Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 14 December 2025 , and are signed on behalf of the board by:

Mr L J O'Toole

Director

Company registration number: 07920121

Foundry Associates Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	20% straight line
Office equipment	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Average number of employees

During the year the average number of employees was 2 (2024: 2) which consisted of the directors only.

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 April 2024	40,183	40,183
Additions	7,618	7,618
	--------	--------
At 31 March 2025	47,801	47,801
	--------	--------
Depreciation
At 1 April 2024	13,184	13,184
Charge for the year	8,543	8,543
	--------	--------
At 31 March 2025	21,727	21,727
	--------	--------
Carrying amount
At 31 March 2025	26,074	26,074
	--------	--------
At 31 March 2024	26,999	26,999
	--------	--------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	18,502
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	18,502
	--------
At 31 March 2024	18,502
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	9,200	17,254
Directors loan account	–	5,691
	-------	--------
	9,200	22,945
	-------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,023	3,298
Accruals and deferred income	3,296	3,034
Corporation tax	13,160	16,363
Social security and other taxes	1,972	2,167
	--------	--------
	21,451	24,862
	--------	--------

9. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

10. Directors' advances, credits and guarantees

At the year end the directors owed the company £nil (2024: £5,691) in the form of a loan account. The maximum amount outstanding during the year was £5,691.