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REGISTERED NUMBER: 10060875 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Frankie and Friends Ltd

Frankie and Friends Ltd (Registered number: 10060875)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Frankie and Friends Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R M Hope
Mrs S E Hope





REGISTERED OFFICE: Lavender Cottage
9 Green Leas
Chestfield
Kent
CT5 3JY





REGISTERED NUMBER: 10060875 (England and Wales)





ACCOUNTANTS: A.K & Co (Accountancy Services) Ltd
19 Victoria Terrace
Hove
East Sussex
BN3 2WB

Frankie and Friends Ltd (Registered number: 10060875)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,591 2,425

CURRENT ASSETS
Cash at bank and in hand 58,249 22,465

CREDITORS
Amounts falling due within one year 5 15,744 14,200
NET CURRENT ASSETS 42,505 8,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,096

10,690

PROVISIONS FOR LIABILITIES 302 461
NET ASSETS 43,794 10,229

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 43,694 10,129
SHAREHOLDERS' FUNDS 43,794 10,229

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by:





R M Hope - Director


Frankie and Friends Ltd (Registered number: 10060875)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Frankie and Friends 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.

Going concern

The company's day to day working capital is met through loan accounts with the directors. The directors have given their understanding not to draw down on the loans to the detriment of the company and the directors therefore consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Revenue 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 to the extent that it is probably that the economic benefits will flow to the company and the revenue can be reliability measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairments losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimates useful lives, using either the straight-line or reducing-balance method.

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss.

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.


Frankie and Friends Ltd (Registered number: 10060875)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 5,297
DEPRECIATION
At 1 April 2022 2,872
Charge for year 834
At 31 March 2023 3,706
NET BOOK VALUE
At 31 March 2023 1,591
At 31 March 2022 2,425

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 12,489 14,188
Directors' current accounts 26 12
Accrued expenses 3,229 -
15,744 14,200

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £19,000 were paid to the directors .

7. ULTIMATE CONTROLLING PARTY



The company was under control of R Hope and S Hope during the year who are the directors and majority shareholders.