FRASER LANCASTRIAN LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
FRASER LANCASTRIAN LIMITED
COMPANY INFORMATION
Directors
A Fraser
N Fraser
Secretary
H I Fraser
Company number
3667995 (England and Wales)
Registered office
Unit 7 Hurstwood Court
Mercer Way
Shadsworth Business Park
Blackburn
Lancashire
BB1 2QU
Accountants
Ashworth Moulds
11 Nicholas Street
Burnley
Lancashire
BB11 2AL
FRASER LANCASTRIAN LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
FRASER LANCASTRIAN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 1 -
The directors present their annual report and financial statements for the year ended 30 November 2021.
Principal activities
The company did not trade, nor did it receive any income or incur any expenses during the year.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
A Fraser
N Fraser
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
N Fraser
Director
2 August 2022
FRASER LANCASTRIAN LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRASER LANCASTRIAN LIMITED FOR THE YEAR ENDED 30 NOVEMBER 2021
- 2 -
In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Fraser Lancastrian Limited for the year ended 30 November 2021, set out on pages 1 to 5 from the accounting records and information and explanations you have given to us.
This report is made solely to the Board of Directors of Fraser Lancastrian Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Fraser Lancastrian Limited and state those matters that we have agreed to state to the Board of Directors of Fraser Lancastrian Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fraser Lancastrian Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Fraser Lancastrian 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 result of Fraser Lancastrian Limited. You consider that Fraser Lancastrian 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 Fraser Lancastrian 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.
Ashworth Moulds
2 August 2022
Chartered Accountants
11 Nicholas Street
Burnley
Lancashire
BB11 2AL
FRASER LANCASTRIAN LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2021
30 November 2021
- 3 -
2021
2020
Notes
£
£
£
£
Current assets
Cash at bank and in hand
2
2
Net current assets
2
2
Capital and reserves
Called up share capital
3
2
2
The notes on pages 4 - 5 form an integral part of these financial statements.
For the financial year ended 30 November 2021 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 August 2022 and are signed on its behalf by:
A Fraser
Director
Company Registration No. 3667995
FRASER LANCASTRIAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 4 -
1
Accounting policies
Company information
Fraser Lancastrian Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 7 Hurstwood Court, Mercer Way, Shadsworth Business Park, Blackburn, Lancashire, BB1 2QU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).
Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.
All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.
Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.
Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.
Derecognition of financial assets
Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.
Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.
FRASER LANCASTRIAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
3
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2