Folk Research Limited

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

Registered number: 11267127

		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		5,194		6,816

			5,194		6,816
CURRENT ASSETS
Stocks	6	3,238		37,029
Debtors	7	289,338		300,478
Cash at bank and in hand		320,387		279,625

		612,963		617,132
Creditors: Amounts Falling Due Within One Year	8	(189,563 )		(180,932 )

NET CURRENT ASSETS (LIABILITIES)			423,400		436,200

TOTAL ASSETS LESS CURRENT LIABILITIES			428,594		443,016

NET ASSETS			428,594		443,016

CAPITAL AND RESERVES
Called up share capital	9		202		202
Profit and Loss Account			428,392		442,814

SHAREHOLDERS' FUNDS			428,594		443,016

Page 1

Page 2

Folk Research Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 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 Matthew Allen Director	Mrs Natalie Swanson Director
19/08/2026

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

1. General Information

Folk Research Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11267127 . The registered office is 29 The Green, Winchmore Hill, London, N21 1HS.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

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.

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

2.4. 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:

Fixtures & Fittings	25%
Computer Equipment	20%

2.5. 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.

2.6. Taxation

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 year 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 asset reflects 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.

...CONTINUED

Page 3

Page 4

Folk Research Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation - continued

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2025: 6)

4. Prior Period Adjustment

During the year, an error was identified in the prior year financial statements relating to a transaction which had been recognised in the incorrect accounting period.

The comparative figures have been restated to correct this error. The effect of the restatement was to increase retained earnings at the prior year end by £70,000.

5. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 April 2025	17,098
Additions	1,398

As at 31 March 2026	18,496

Depreciation
As at 1 April 2025	10,282
Provided during the period	3,020

As at 31 March 2026	13,302

Net Book Value
As at 31 March 2026	5,194

As at 1 April 2025	6,816

6. Stocks

	2026	2025 as restated
	£	£
Work in progress	3,238	37,029

Page 4

Page 5

Folk Research Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Debtors

	2026	2025 as restated
	£	£
Due within one year
Trade debtors	229,850	273,116
Other debtors	59,488	27,362

	289,338	300,478

8. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Trade creditors	30,401	11,824
Other creditors	86,704	28,671
Taxation and social security	72,458	140,437

	189,563	180,932

9. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	202	202

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Matthew Allen	10,101	20,101	(10,101 )	-	20,101
Mrs Natalie Swanson	15,101	15,101	(15,101 )	-	15,101

The above loan is unsecured, interest free and repayable on demand.

11. Ultimate Controlling Party

The ultimate controlling party is Mr Allen.

Page 5