Company Registration No. 06408528 (England and Wales)
Front 5 Ltd
Unaudited accounts
for the year ended 31 December 2021
Front 5 Ltd
Unaudited accounts
Contents
Front 5 Ltd
Company Information
for the year ended 31 December 2021
Directors
Mr J Hutchison
Mrs E Hutchison
Company Number
06408528 (England and Wales)
Registered Office
High Beech
Elkstone
Cheltenham
GL53 9PA
Accountants
Lateral Accounting Ltd
2 Chestnut Road
Kingston Upon Thames
KT2 5AP
Front 5 Ltd
Statement of financial position
as at 31 December 2021
Intangible assets
2,500
5,000
Tangible assets
14,200
1,668
Cash at bank and in hand
41,700
72,133
Creditors: amounts falling due within one year
(47,547)
(62,034)
Net current assets
51,582
70,334
Total assets less current liabilities
68,282
77,002
Creditors: amounts falling due after more than one year
-
(842)
Called up share capital
1
1
Profit and loss account
68,281
76,159
Shareholders' funds
68,282
76,160
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2022 and were signed on its behalf by
Mr J Hutchison
Director
Company Registration No. 06408528
Front 5 Ltd
Notes to the Accounts
for the year ended 31 December 2021
Front 5 Ltd is a private company, limited by shares, registered in England and Wales, registration number 06408528. The registered office is High Beech, Elkstone, Cheltenham, GL53 9PA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. The cost of the website is based on the estimated additional revenue that it is expected to create.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 4 years
Computer equipment
over 4 years
4
Intangible fixed assets
Other
At 31 December 2021
10,000
Intangible assets are amortised over 4 years, which is the expected time frame before material changes are expected to be made to the website. Amortisation will begin when the website starts to produce the predicted revenue.
Front 5 Ltd
Notes to the Accounts
for the year ended 31 December 2021
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2021
12,231
7,479
19,710
At 31 December 2021
26,449
7,479
33,928
At 1 January 2021
12,249
5,793
18,042
Charge for the year
-
1,686
1,686
At 31 December 2021
12,249
7,479
19,728
At 31 December 2021
14,200
-
14,200
At 31 December 2020
(18)
1,686
1,668
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
45,619
58,330
Accrued income and prepayments
11,810
-
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
-
33,000
Taxes and social security
25,967
18,840
Loans from directors
20,955
6,689
8
Creditors: amounts falling due after more than one year
2021
2020
Loans from directors
-
842
9
Average number of employees
During the year the average number of employees was 2 (2020: 2).