Foundation Stones Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09768253 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 March 2022

for

Foundation Stones Group Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

N Tulloch

M T Martin

Mrs A Martin

I S Michalski

J F Rainert

Mrs G C Haythornthwaite

REGISTERED OFFICE:

C/o Browne Jacobson LLP

15th Floor, 6 Bevis Marks

Bury Court

London

EC3A 7BA

REGISTERED NUMBER:

09768253 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Foundation Stones Group Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Foundation Stones Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Foundation Stones Group Limited and state those matters that we have agreed to state to the Board of Directors of Foundation Stones Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Foundation Stones Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Foundation Stones Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Foundation Stones Group Limited. You consider that Foundation Stones Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Foundation Stones Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

7 September 2022

FIXED ASSETS

Tangible assets

4

-

348

CURRENT ASSETS

Debtors

5

284

397

Cash at bank

18,203

23,242

18,487

23,639

CREDITORS

Amounts falling due within one year

6

125,644

125,540

NET CURRENT LIABILITIES

(107,157

)

(101,901

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(107,157

)

(101,553

)

CAPITAL AND RESERVES

Called up share capital

7

2,400

2,400

Share premium

29,700

29,700

Retained earnings

(139,257

)

(133,653

)

SHAREHOLDERS' FUNDS

(107,157

)

(101,553

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:

M T Martin - Director

1.	STATUTORY INFORMATION

Foundation Stones Group 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

20% on cost

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 balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2021

and 31 March 2022

1,744

DEPRECIATION

At 1 April 2021

1,396

Charge for year

348

At 31 March 2022

1,744

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

348

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

VAT

284

397

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

-

216

Directors' current accounts

124,544

124,024

Accruals and deferred income

1,100

1,300

125,644

125,540

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31.3.22

31.3.21

value:

£

£

240,000

Ordinary

1p

2,400

2,400

8.	GOING CONCERN

The financial statements have been prepared on the going concern basis as the directors have agreed to support the company for the foreseeable future.