Foundry Services Limited - Accounts to registrar (filleted) - small 18.2

Foundry Services Limited - Accounts to registrar (filleted) - small 18.2

FOUNDRY SERVICES LIMITED - Company Information

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REGISTERED NUMBER: 10853418 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

FOUNDRY SERVICES LIMITED
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOUNDRY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2019







DIRECTORS: Andrew Butcher
Edward Froggatt





REGISTERED OFFICE: 311 Ballards Lane
London
N12 8LY





REGISTERED NUMBER: 10853418 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
311 Ballards Lane
London
N12 8LY
Page 1
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)

BALANCE SHEET
30 JUNE 2019

30.6.19 30.6.18
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 22,286 29,514
Tangible assets 5 2,503 2,705
24,789 32,219

CURRENT ASSETS
Debtors 6 44,913 31,833
Cash at bank 41,251 25,525
86,164 57,358
CREDITORS
Amounts falling due within one year 7 110,277 88,934
NET CURRENT LIABILITIES (24,113 ) (31,576 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
676
643

PROVISIONS FOR LIABILITIES 476 514
NET ASSETS 200 129

CAPITAL AND RESERVES
Called up share capital 80 80
Retained earnings 120 49
SHAREHOLDERS' FUNDS 200 129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 notes form part of these financial statements

Page 2
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)

BALANCE SHEET - continued
30 JUNE 2019


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 on 24 September 2019 and were signed on its behalf
by:





Andrew Butcher - Director


The notes form part of these financial statements

Page 3
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2019

1. STATUTORY INFORMATION

Foundry Services 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 the provisions of section 1A of Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill
Goodwill is amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at 25% on reducing balance to write off computer equipment over its estimated useful
life.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and
amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised
cost using the effective interest method unless the arrangements constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.

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

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 the profit and loss account in the period to which they relate.



3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

Page 4
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2019

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2018
and 30 June 2019 36,140
AMORTISATION
At 1 July 2018 6,626
Charge for year 7,228
At 30 June 2019 13,854
NET BOOK VALUE
At 30 June 2019 22,286
At 30 June 2018 29,514

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2018 3,142
Additions 399
At 30 June 2019 3,541
DEPRECIATION
At 1 July 2018 437
Charge for year 601
At 30 June 2019 1,038
NET BOOK VALUE
At 30 June 2019 2,503
At 30 June 2018 2,705

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.19 30.6.18
£    £   
Trade debtors 38,984 28,844
Other debtors 5,929 2,989
44,913 31,833

Page 5
FOUNDRY SERVICES LIMITED (REGISTERED NUMBER: 10853418)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.19 30.6.18
£    £   
Trade creditors 6,605 516
Taxation and social security 55,167 39,467
Other creditors 48,505 48,951
110,277 88,934

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to lease payments of £26,000 (2018: £nil) for rental of
premises under a lease which expires within one year.

9. GOING CONCERN

The financial statements have been prepared on a going concern basis which depends on the continuing support
of the directors Edward Froggatt and Andrew Butcher. The directors do not intend to withdraw their support in
the foreseeable future and therefore the going concern basis is reasonable.

Page 6