FOUNDATION TESTING SERVICES (U.K) LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12594311

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		69,466		83,496

			69,466		83,496
CURRENT ASSETS
Debtors	5	92,937		46,963
Cash at bank and in hand		27,683		19,317

		120,620		66,280
Creditors: Amounts Falling Due Within One Year	6	(62,160 )		(39,758 )

NET CURRENT ASSETS (LIABILITIES)			58,460		26,522

TOTAL ASSETS LESS CURRENT LIABILITIES			127,926		110,018

Creditors: Amounts Falling Due After More Than One Year	7		(21,096 )		(39,337 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(13,199 )		(15,656 )

NET ASSETS			93,631		55,025

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			93,629		55,023

SHAREHOLDERS' FUNDS			93,631		55,025

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FOUNDATION TESTING SERVICES (U.K) LIMITED

Balance Sheet (continued)

As At 28 November 2024

For the year ending 28 November 2024 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 Barry Sheppard

Director

11th January 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

FOUNDATION TESTING SERVICES (U.K) LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12594311 . The registered office is Unit 28 Basepoint Business Centre, Jubilee Close, Weymouth, DT4 7BS.

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. 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	25% reducing balance method
Motor Vehicles	25% reducing balance method
Fixtures & Fittings	25% straight line method

2.4. 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.

2.5. 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.

...CONTINUED

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FOUNDATION TESTING SERVICES (U.K) LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 28 November 2024

2.5. Taxation - continued

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: 3 (2023: 3)

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 December 2023	27,502	73,990	-	101,492
Additions	5,000	-	6,488	11,488
Disposals	-	(11,000 )	-	(11,000 )

As at 28 November 2024	32,502	62,990	6,488	101,980

Depreciation
As at 1 December 2023	10,424	7,572	-	17,996
Provided during the period	4,355	14,896	135	19,386
Disposals	-	(4,868 )	-	(4,868 )

As at 28 November 2024	14,779	17,600	135	32,514

Net Book Value
As at 28 November 2024	17,723	45,390	6,353	69,466

As at 1 December 2023	17,078	66,418	-	83,496

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	49,807	27,505
Amounts owed by group undertakings	42,370	19,458
Other debtors	760	-

	92,937	46,963

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FOUNDATION TESTING SERVICES (U.K) LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 28 November 2024

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	18,242	27,051
Trade creditors	14,274	1,547
Other creditors	11,503	10,327
Taxation and social security	18,141	833

	62,160	39,758

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	21,096	39,337

8. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	18,242	27,051
Later than one year and not later than five years	21,096	39,337

	39,338	66,388

	39,338	66,388

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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