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Company Registration No. SC250043 (Scotland)
Frog Works Ltd. Unaudited accounts for the year ended 30 June 2023
Frog Works Ltd. Unaudited accounts Contents
Page
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Frog Works Ltd. Company Information for the year ended 30 June 2023
Director
Christopher Hansen
Company Number
SC250043 (Scotland)
Registered Office
Unit 10 Mid Road Industrial Estate Prestonpans EH32 9ER
Accountants
AGL Tax Solutions LLP 2A Station Yard Haddington East Lothian EH41 3PP
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Frog Works Ltd. Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,142 
1 
Current assets
Debtors
7,244 
119,802 
Cash at bank and in hand
234,498 
192,757 
241,742 
312,559 
Creditors: amounts falling due within one year
(104,394)
(94,413)
Net current assets
137,348 
218,146 
Net assets
179,490 
218,147 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
178,490 
217,147 
Shareholders' funds
179,490 
218,147 
For the year ending 30 June 2023 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 director acknowledges his 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 and authorised for issue on 5 October 2023 and were signed on its behalf by
Christopher Hansen Director Company Registration No. SC250043
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Frog Works Ltd. Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Frog Works Ltd. is a private company, limited by shares, registered in Scotland, registration number SC250043. The registered office is Unit 10, Mid Road Industrial Estate , Prestonpans, EH32 9ER.
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.
3
Accounting policies
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.
Basis of preparation
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 historic cost convention.
Going concern
In preparing these financial statements, the director has assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company’s ability to continue as a going concern. In making this assessment, the director takes into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue. The director considers that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
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
25% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
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Frog Works Ltd. Notes to the Accounts for the year ended 30 June 2023
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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.
Deferred taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company’s pension scheme are charged to profit and loss in the period to which they relate.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
36,590 
13,637 
50,227 
Additions
55,021 
1,167 
56,188 
At 30 June 2023
91,611 
14,804 
106,415 
Depreciation
At 1 July 2022
36,590 
13,636 
50,226 
Charge for the year
13,755 
292 
14,047 
At 30 June 2023
50,345 
13,928 
64,273 
Net book value
At 30 June 2023
41,266 
876 
42,142 
At 30 June 2022
- 
1 
1 
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Frog Works Ltd. Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,152 
4,360 
Amounts due from group undertakings etc.
- 
11,251 
Deferred tax asset
3,336 
1,703 
6,488 
17,314 
Amounts falling due after more than one year
Accrued income and prepayments
756 
102,488 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,313 
(12,261)
Trade creditors
8,194 
43,339 
Amounts owed to group undertakings and other participating interests
11,636 
- 
Taxes and social security
18,671 
30,169 
Loans from directors
- 
(414)
Accruals
1,800 
1,800 
Deferred income
61,780 
31,780 
104,394 
94,413 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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