Foehn Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03925996 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

FOEHN LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J L Passingham

SECRETARY:

Mrs M Passingham

REGISTERED OFFICE:

Goodwin House

5 Union Court

Richmond

Surrey

TW9 1AA

REGISTERED NUMBER:

03925996 (England and Wales)

ACCOUNTANTS:

Wem & Co Chartered Accountants

Savoy House

Savoy Circus

London

W3 7DA

FIXED ASSETS

Tangible assets

4

76,220

80,012

CURRENT ASSETS

Stocks

777

8,929

Debtors

5

3,895,302

1,789,285

Cash at bank and in hand

1,973,543

1,493,124

5,869,622

3,291,338

CREDITORS

Amounts falling due within one year

6

3,170,997

1,465,172

NET CURRENT ASSETS

2,698,625

1,826,166

TOTAL ASSETS LESS CURRENT LIABILITIES

2,774,845

1,906,178

PROVISIONS FOR LIABILITIES

13,650

13,110

NET ASSETS

2,761,195

1,893,068

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,760,195

1,892,068

SHAREHOLDERS' FUNDS

2,761,195

1,893,068

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 July 2020 and were signed by:

J L Passingham - Director

1.	STATUTORY INFORMATION

Foehn Limited is a private company, limited by shares , registered in England and Wales. The company's registered number

and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

over the lease term, straight line basis

Fixtures and fittings

-

20% straight line basis

Computer equipment

-

50% straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that

it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or

substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of

financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date

of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2019 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

10,024

500,722

510,746

Additions

-

36,659

36,659

At 31 March 2020

10,024

537,381

547,405

DEPRECIATION

At 1 April 2019

10,024

420,710

430,734

Charge for year

-

40,451

40,451

At 31 March 2020

10,024

461,161

471,185

NET BOOK VALUE

At 31 March 2020

-

76,220

76,220

At 31 March 2019

-

80,012

80,012

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

1,123,540

208,103

Other debtors

2,771,762

1,581,182

3,895,302

1,789,285

Included in other debtors is £1,174,990 (2019: £982,160) lent to a company under common control.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Hire purchase contracts

-

14,614

Trade creditors

877,718

258,457

Taxation and social security

90,910

58,047

Other creditors

2,202,369

1,134,054

3,170,997

1,465,172

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

J L Passingham

Balance outstanding at start of year

(99,579

)

(94,209

)

Amounts advanced

365,042

11,598

Amounts repaid

(11,595

)

(16,968

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

253,868

(99,579

)

The director has agreed to pay interest on the loan at the HMRC official rate and to repay the loan within nine months of the

year end.