Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01falseThe principal activity of the company continued to be that of property investment.11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00753564 2022-05-01 2023-04-30 00753564 2021-05-01 2022-04-30 00753564 2023-04-30 00753564 2022-04-30 00753564 2021-05-01 00753564 c:Director1 2022-05-01 2023-04-30 00753564 d:FurnitureFittings 2022-05-01 2023-04-30 00753564 d:FurnitureFittings 2023-04-30 00753564 d:FurnitureFittings 2022-04-30 00753564 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 00753564 d:FreeholdInvestmentProperty 2023-04-30 00753564 d:FreeholdInvestmentProperty 2022-04-30 00753564 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00753564 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 00753564 d:ShareCapital 2022-05-01 2023-04-30 00753564 d:ShareCapital 2023-04-30 00753564 d:ShareCapital 2021-05-01 2022-04-30 00753564 d:ShareCapital 2022-04-30 00753564 d:ShareCapital 2021-05-01 00753564 d:OtherMiscellaneousReserve 2022-05-01 2023-04-30 00753564 d:OtherMiscellaneousReserve 2023-04-30 00753564 d:OtherMiscellaneousReserve 2021-05-01 2022-04-30 00753564 d:OtherMiscellaneousReserve 2022-04-30 00753564 d:OtherMiscellaneousReserve 2021-05-01 00753564 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2023-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2022-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2021-05-01 00753564 c:FRS102 2022-05-01 2023-04-30 00753564 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 00753564 c:FullAccounts 2022-05-01 2023-04-30 00753564 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 00753564 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 00753564










FRATURN SERVICES








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
FRATURN SERVICES
REGISTERED NUMBER: 00753564

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
325
434

Investment property
 5 
800,000
800,000

  
800,325
800,434

Current assets
  

Cash at bank and in hand
  
152,818
160,608

  
152,818
160,608

Creditors: amounts falling due within one year
  
(18,901)
(19,017)

Net current assets
  
 
 
133,917
 
 
141,591

Total assets less current liabilities
  
934,242
942,025

Provisions for liabilities
  

Deferred tax
  
(94,913)
(72,134)

  
 
 
(94,913)
 
 
(72,134)

Net assets
  
839,329
869,891


Capital and reserves
  

Called up share capital 
  
12,408
12,408

Other reserves
 6 
685,088
707,867

Profit and loss account
 6 
141,833
149,616

  
839,329
869,891

Page 1

 
FRATURN SERVICES
REGISTERED NUMBER: 00753564
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr Nicholas William Turner
Director

Date: 19 October 2023

The notes on pages 4 to 7 form part of these financial statements.
Page 2

 
FRATURN SERVICES
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 May 2021
12,408
707,867
150,455
870,730


Comprehensive income for the year

Profit for the year
-
-
21,161
21,161
Total comprehensive income for the year
-
-
21,161
21,161


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(22,000)
(22,000)


Total transactions with owners
-
-
(22,000)
(22,000)



At 1 May 2022
12,408
707,867
149,616
869,891


Comprehensive income for the year

Loss for the year
-
-
(1,562)
(1,562)
Total comprehensive income for the year
-
-
(1,562)
(1,562)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(29,000)
(29,000)

Transfer to/from profit and loss account
-
(22,779)
22,779
-


At 30 April 2023
12,408
685,088
141,833
839,329


The notes on pages 4 to 7 form part of these financial statements.
Page 3

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

Fraturn Services (00753564) is a private unlimited company registered in England and Wales. The registered office is The Wallet, 2 Second Avenue, Frinton On Sea, Essex, CO13 9ER.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably 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:

Revenue represents rents receivable recognised in the period in which the services are being provided in accordance with the rental agreement. Rent receivable is invoiced quarterly in advance of the quarter for which the rental income relates.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment 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 estimated useful lives.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance

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 profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
4,607



At 30 April 2023

4,607



Depreciation


At 1 May 2022
4,173


Charge for the year on owned assets
109



At 30 April 2023

4,282



Net book value



At 30 April 2023
325



At 30 April 2022
434

Page 6

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2022
800,000



At 30 April 2023
800,000

The 2023 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
20,000
20,000

20,000
20,000


6.


Reserves

Other reserves

The other reserves comprise the revaluations relating to the investment property net of deferred tax on the gain. This reserve is non distributable.

Profit and loss account

The profit and loss account comprise the balance of the profits accumulated over the life of the company. This reserve is distributable.


7.


Related party transactions

Included within other creditors due within one year is an amount due to shareholders of £5,713 (2022 - £5,851). 
Included within other creditors due within one year is an interest free loan to the director of £130 (2022 - £54). This is repayable on demand.

 
Page 7