I Foam Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06716906

I Foam Limited

Filleted Unaudited Financial Statements

31 October 2025

I Foam Limited

Statement of Financial Position

31 October 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	8,710	8,710
Tangible assets	6	17,546	23,751
		-------	-------
		26,256	32,461

Current assets

Stocks		95,343	84,655
Debtors	7	49,636	148,548
Cash at bank and in hand		2,051	1,735
		--------	--------
		147,030	234,938

Prepayments and accrued income	4,139		4,210

Creditors: amounts falling due within one year	8	433,986		304,259
		--------		--------
Net current liabilities			282,817	65,111
			--------	-------
Total assets less current liabilities			( 256,561)	( 32,650)

Creditors: amounts falling due after more than one year	9	–	28,000
		--------	-------
Net liabilities		( 256,561)	( 60,650)
		--------	-------

Capital and reserves

Called up share capital	10	850	850
Capital redemption reserve		150	150
Profit and loss account		( 257,561)	( 61,650)
		--------	-------
Shareholders deficit		( 256,561)	( 60,650)
		--------	-------

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 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

I Foam Limited

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 28 July 2026 , and are signed on behalf of the board by:

G. McDonald
Director

Company registration number: 06716906

I Foam Limited

Notes to the Financial Statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in England and Wales with company number 06716906 . The address of the registered office is Unit A Tyson Courtyard, Weldon South Industrial Estate, Corby, NN18 8AZ, England.

2. Statement of compliance

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and Companies Act 2006.

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 company and rounded to the nearest £.

Going concern

The continuation of the company's affairs is dependent upon the support of the creditors. These accounts have been prepared on a going concern basis which assumes their support for the foreseeable future.

Judgements in applying accounting policies and key sources of estimation in uncertainty

In preparing these financial statements the director has had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.

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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Land & Buildings	-	20% straight line
Plant & Machinery	-	25% reducing balance
Fixtures & Fittings	-	33% straight line
Motor Vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 12 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 November 2024 and 31 October 2025	8,710
	------
Amortisation
At 1 November 2024 and 31 October 2025	–
	------
Carrying amount
At 31 October 2025	8,710
	------
At 31 October 2024	8,710
	------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Nov 2024 and 31 Oct 2025	66,025	266,606	3,593	16,021	14,751	366,996
	-------	--------	------	-------	-------	--------
Depreciation
At 1 Nov 2024	65,669	246,497	3,594	14,818	12,667	343,245
Charge for the year	357	5,027	–	300	521	6,205
	-------	--------	------	-------	-------	--------
At 31 Oct 2025	66,026	251,524	3,594	15,118	13,188	349,450
	-------	--------	------	-------	-------	--------
Carrying amount
At 31 Oct 2025	( 1)	15,082	( 1)	903	1,563	17,546
	-------	--------	------	-------	-------	--------
At 31 Oct 2024	356	20,109	( 1)	1,203	2,084	23,751
	-------	--------	------	-------	-------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	40,550	128,084
Other debtors	9,086	20,464
	-------	--------
	49,636	148,548
	-------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	107,629	138,771
Trade creditors	167,421	108,890
Social security and other taxes	43,409	38,332
Other creditors	115,527	18,266
	--------	--------
	433,986	304,259
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	28,000
	----	-------

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A Shares shares of £ 1 each	750	750	750	750
Ordinary B Shares shares of £ 1 each	100	100	100	100
	----	----	----	----
	850	850	850	850
	----	----	----	----

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	73,616	73,616
Later than 1 year and not later than 5 years	1,615	75,231
	-------	--------
	75,231	148,847
	-------	--------

12. Directors' advances, credit and guarantees

At the reporting date the directors loan account was in credit by £20,935 (2024: £(7,761)). There is no fixed term for repayment and no interest is charged. Transactions during the year can be summarised as follows:

		2025
		£
	Opening Balances Brought Forward	7,761
	Net repayments	(28,696)
		-------
	Closing Balance Carried Forward	(20,935)
		-------

13. Related party transactions

The company was under the control of Mr G. McDonald during the current and previous period.