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Registered number: 04613067
Foundation Property Services Limited
Unaudited Financial Statements
For The Year Ended 30 April 2025
DSCO Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04613067
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 278 371
Tangible Assets 5 93,864 96,416
94,142 96,787
CURRENT ASSETS
Stocks 6 28,000 28,000
Debtors 7 316,201 217,897
Cash at bank and in hand 245 245
344,446 246,142
Creditors: Amounts Falling Due Within One Year 8 (317,805 ) (247,438 )
NET CURRENT ASSETS (LIABILITIES) 26,641 (1,296 )
TOTAL ASSETS LESS CURRENT LIABILITIES 120,783 95,491
Creditors: Amounts Falling Due After More Than One Year 9 (43,548 ) (23,867 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,826 ) (18,390 )
NET ASSETS 59,409 53,234
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 59,309 53,134
SHAREHOLDERS' FUNDS 59,409 53,234
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For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Steve Brett
Director
13th November 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Foundation Property Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04613067 . The registered office is Dsco, The Tower, The Maltings, Hoe Lane, Ware, Herts, SG12 9LR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 20% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2024: 18)
15 18
4. Intangible Assets
Goodwill Development Costs Total
£ £ £
Cost
As at 1 May 2024 92,000 7,730 99,730
As at 30 April 2025 92,000 7,730 99,730
Amortisation
As at 1 May 2024 92,000 7,359 99,359
Impairment losses - 93 93
As at 30 April 2025 92,000 7,452 99,452
Net Book Value
As at 30 April 2025 - 278 278
As at 1 May 2024 - 371 371
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2024 377,614 15,285 16,381 409,280
Additions 28,216 - 426 28,642
As at 30 April 2025 405,830 15,285 16,807 437,922
Depreciation
As at 1 May 2024 287,285 10,865 14,714 312,864
Provided during the period 29,636 663 895 31,194
As at 30 April 2025 316,921 11,528 15,609 344,058
Net Book Value
As at 30 April 2025 88,909 3,757 1,198 93,864
As at 1 May 2024 90,329 4,420 1,667 96,416
6. Stocks
2025 2024
£ £
Stock 3,000 3,000
Work in progress 25,000 25,000
28,000 28,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 258,275 187,043
Amounts owed by participating interests 4,796 -
Other debtors 53,130 30,854
316,201 217,897
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 16,308 18,691
Trade creditors 112,492 50,634
Bank loans and overdrafts 34,306 49,312
Other creditors 71,204 70,237
Taxation and social security 83,495 58,564
317,805 247,438
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9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 14,440 12,014
Bank loans 29,108 11,853
43,548 23,867
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,308 18,691
Later than five years 14,440 12,014
30,748 30,705
30,748 30,705
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
12. Related Party Transactions
Bristows Removal Services Limited
During the year the company maintained an inter-company loan account with Bristows Removal Services Limited.
As at the year end Bristows Removal Services Limited owed Foundation Property Services Limited of £4,795.51
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