Foration Ltd - Accounts to registrar (filleted) - small 23.1.2

FORATION LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M R Patel

REGISTERED OFFICE:

6 Hampstead West

224 Iverson Road

London

NW6 2HL

REGISTERED NUMBER:

06194720 (England and Wales)

ACCOUNTANTS:

Akshar & Company

Chartered Accountants

221 Kenton Lane

Harrow

Middlesex

HA3 8RP

FIXED ASSETS

Intangible assets

4

-

7,131

Tangible assets

5

3,249

5,146

3,249

12,277

CURRENT ASSETS

Debtors

6

67,090

148,470

Cash at bank

8,772

2,771

75,862

151,241

CREDITORS

Amounts falling due within one year

7

56,299

51,794

NET CURRENT ASSETS

19,563

99,447

TOTAL ASSETS LESS CURRENT LIABILITIES

22,812

111,724

CREDITORS

Amounts falling due after more than one year

8

68,747

112,358

NET LIABILITIES

(45,935

)

(634

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(46,935

)

(1,634

)

(45,935

)

(634

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 5 July 2023 and were signed by:

M R Patel - Director

1.	STATUTORY INFORMATION

Foration 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.

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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

-

Straight line over 10 years

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 April 2022

71,310

Disposals

(71,310

)

At 31 March 2023

-

AMORTISATION

At 1 April 2022

64,179

Amortisation for year

7,131

Eliminated on disposal

(71,310

)

At 31 March 2023

-

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

7,131

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2022

and 31 March 2023

20,890

DEPRECIATION

At 1 April 2022

15,744

Charge for year

1,897

At 31 March 2023

17,641

NET BOOK VALUE

At 31 March 2023

3,249

At 31 March 2022

5,146

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

(1,744

)

Amounts owed by group undertakings

62,605

139,980

Other debtors

4,485

10,234

67,090

148,470

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

43,611

39,911

Trade creditors

7,348

5,742

Taxation and social security

-

108

Other creditors

5,340

6,033

56,299

51,794

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

68,747

112,358