Foldaway Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09077779 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Foldaway Estates Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Foldvari

J S Hathaway

REGISTERED OFFICE:

Unit 11 Diddenham Court

Lambwood Hill

Grazeley

Reading

Berkshire

RG7 1JQ

REGISTERED NUMBER:

09077779 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Bus Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

FIXED ASSETS

Intangible assets

4

67,500

-

Tangible assets

5

32,061

30,041

99,561

30,041

CURRENT ASSETS

Debtors

6

136,833

302,058

Prepayments and accrued income

28,169

23,622

Cash at bank and in hand

151,292

147,235

316,294

472,915

CREDITORS

Amounts falling due within one year

7

322,484

334,820

NET CURRENT (LIABILITIES)/ASSETS

(6,190

)

138,095

TOTAL ASSETS LESS CURRENT LIABILITIES

93,371

168,136

CREDITORS

Amounts falling due after more than one year

8

(50,000

)

-

PROVISIONS FOR LIABILITIES

(993

)

(993

)

NET ASSETS

42,378

167,143

CAPITAL AND RESERVES

Called up share capital

150

150

Retained earnings

42,228

166,993

42,378

167,143

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2022 and were signed on its behalf by:

M Foldvari - Director

J W Hallett - Director

J S Hathaway - Director

1.	STATUTORY INFORMATION

Foldaway Estates Ltd 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.

Revenue is recognised for the provision of services as the contractual activity progresses.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2020 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

75,000

At 30 June 2021

75,000

AMORTISATION

Charge for year

7,500

At 30 June 2021

7,500

NET BOOK VALUE

At 30 June 2021

67,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

121,714

Additions

5,091

At 30 June 2021

126,805

DEPRECIATION

At 1 July 2020

91,673

Charge for year

3,071

At 30 June 2021

94,744

NET BOOK VALUE

At 30 June 2021

32,061

At 30 June 2020

30,041

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

95,531

103,924

Amounts owed by group undertakings

35,319

-

Other debtors

5,983

198,134

136,833

302,058

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade creditors

85,307

62,385

Taxation and social security

121,597

54,083

Other creditors

115,580

218,352

322,484

334,820

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans

50,000

-

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30.6.21

30.6.20

£

£

Within one year

-

368