The Frome Independent Limited 06862981 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the operation of a monthly curated street market. Digita Accounts Production Advanced 6.30.9574.0 true 06862981 2022-02-01 2023-01-31 06862981 2023-01-31 06862981 bus:Director1 2023-01-31 06862981 core:RetainedEarningsAccumulatedLosses 2023-01-31 06862981 core:CurrentFinancialInstruments 2023-01-31 06862981 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06862981 bus:SmallEntities 2022-02-01 2023-01-31 06862981 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06862981 bus:FullAccounts 2022-02-01 2023-01-31 06862981 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06862981 bus:RegisteredOffice 2022-02-01 2023-01-31 06862981 bus:Director1 2022-02-01 2023-01-31 06862981 bus:Director2 2022-02-01 2023-01-31 06862981 bus:Director3 2022-02-01 2023-01-31 06862981 bus:Director4 2022-02-01 2023-01-31 06862981 bus:CompanyLimitedByGuarantee 2022-02-01 2023-01-31 06862981 countries:EnglandWales 2022-02-01 2023-01-31 06862981 2021-02-01 2022-01-31 06862981 2022-01-31 06862981 core:RetainedEarningsAccumulatedLosses 2022-01-31 06862981 core:CurrentFinancialInstruments 2022-01-31 06862981 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 06862981

The Frome Independent Limited

(A company limited by guarantee)

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

The Frome Independent Limited

Contents

Company Information

1

Directors' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

The Frome Independent Limited

Company Information

Directors

T M Clayson

P J Ham

A M Hills

Registered office

6b Palmer Street
Frome
Somerset
BA11 1DS

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

The Frome Independent Limited

Directors' Report
Year Ended 31 January 2023

The directors present their report and the financial statements for the year ended 31 January 2023.

Directors of the company

The directors who held office during the year were as follows:

E M Andrew (ceased 5 December 2022)

T M Clayson

P J Ham

A M Hills

Principal activity

The principal activity of the company is the operation of a monthly curated street market.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 17 October 2023 and signed on its behalf by:



T M Clayson
Director



P J Ham
Director

 

The Frome Independent Limited

(Registration number: 06862981)
Balance Sheet
31 January 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

415

Cash at bank and in hand

 

36,103

34,998

 

36,103

35,413

Creditors: Amounts falling due within one year

5

(4,586)

(6,169)

Net assets

 

31,517

29,244

Reserves

 

Retained earnings

31,517

29,244

Surplus

 

31,517

29,244

 

The Frome Independent Limited

(Registration number: 06862981)
Balance Sheet
31 January 2023

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 



T M Clayson
Director



P J Ham
Director

 

The Frome Independent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
6b Palmer Street
Frome
Somerset
BA11 1DS

These financial statements were authorised for issue by the Board on 17 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

Tax

The tax expense for the period comprises current tax and is recognised in profit or loss.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

The Frome Independent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Debtors

2023
£

2022
£

Trade debtors

-

415

-

415

 

The Frome Independent Limited

Notes to the Unaudited Financial Statements
Year Ended 31 January 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

723

2,255

Other creditors

3,863

3,914

4,586

6,169