Foldaway Estate Management Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12917638 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2023

for

Foldaway Estate Management Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M Foldvari

J S Hathaway

REGISTERED OFFICE:

Unit 11 Diddenham Business Park

Diddenham Court

Lambwood Hill

Reading

England

RG7 1JQ

REGISTERED NUMBER:

12917638 (England and Wales)

ACCOUNTANTS:

EDMONDS ACCOUNTANCY LIMITED

Unit 11, Diddenham Bus Park,

Diddenham Court

Grazeley,

READING

Berkshire

RG7 1JQ

FIXED ASSETS

Intangible assets

4

159,980

239,970

Investments

5

150

150

160,130

240,120

CURRENT ASSETS

Debtors

6

43,630

28,321

Cash at bank

22,188

8,657

65,818

36,978

CREDITORS

Amounts falling due within one year

7

127,760

128,216

NET CURRENT LIABILITIES

(61,942

)

(91,238

)

TOTAL ASSETS LESS CURRENT LIABILITIES

98,188

148,882

CAPITAL AND RESERVES

Called up share capital

2

2

Share premium

98

98

Retained earnings

98,088

148,782

98,188

148,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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 29 March 2024 and were signed on its behalf by:

M Foldvari - Director

1.	STATUTORY INFORMATION

Foldaway Estate Management 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 2021, is being amortised evenly over its estimated useful life of five 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2022

and 31 October 2023

399,950

AMORTISATION

At 1 November 2022

159,980

Charge for year

79,990

At 31 October 2023

239,970

NET BOOK VALUE

At 31 October 2023

159,980

At 31 October 2022

239,970

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2022

and 31 October 2023

150

NET BOOK VALUE

At 31 October 2023

150

At 31 October 2022

150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Trade debtors

5,300

14,098

Amounts owed by group undertakings

38,330

14,223

43,630

28,321

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Trade creditors

-

736

Amounts owed to group undertakings

-

6,900

Taxation and social security

18,160

10,980

Other creditors

109,600

109,600

127,760

128,216