1 April 2022 v2023.27.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP046440692022-04-012023-03-31046440692023-03-31046440692022-03-3104644069core:WithinOneYear2023-03-3104644069core:WithinOneYear2022-03-3104644069core:AfterOneYear2023-03-3104644069core:AfterOneYear2022-03-3104644069core:ShareCapital2023-03-3104644069core:ShareCapital2022-03-3104644069core:RetainedEarningsAccumulatedLosses2023-03-3104644069core:RetainedEarningsAccumulatedLosses2022-03-3104644069bus:Director12022-04-012023-03-3104644069bus:RegisteredOffice2022-04-012023-03-3104644069core:OfficeEquipment2022-04-012023-03-3104644069core:FurnitureFittings2022-04-012023-03-31046440692021-04-012022-03-3104644069core:PlantMachinery2022-04-0104644069core:PlantMachinery2022-04-012023-03-3104644069core:PlantMachinery2023-03-3104644069core:PlantMachinery2022-03-310464406912022-04-012023-03-3104644069countries:EnglandWales2022-04-012023-03-3104644069bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3104644069bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104644069bus:SmallEntities2022-04-012023-03-3104644069bus:FullAccounts2022-04-012023-03-31
Company registration number:
04644069
Michael Fryer Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Michael Fryer Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Michael Fryer Limited
Year ended
31 March 2023
As described on the statement of financial position, the Board of Directors of
Michael Fryer Limited
are responsible for the preparation of the
financial statements
for the year ended
31 March 2023
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Thandi Nicholls Ltd
Glaisher Drive
Wolverhampton
WV10 9TG
United Kingdom
Michael Fryer Limited
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,909
 
1,462
 
Current assets    
Debtors 6
270,416
 
122,631
 
Cash at bank and in hand
24,906
 
149,773
 
295,322
 
272,404
 
Creditors: amounts falling due within one year 7
(32,066
)
(67,920
)
Net current assets
263,256
 
204,484
 
Total assets less current liabilities 265,165   205,946  
Creditors: amounts falling due after more than one year 8
(31,059
)
(36,140
)
Provisions for liabilities
(363
)
(278
)
Net assets
233,743
 
169,528
 
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
233,741
 
169,526
 
Shareholders funds
233,743
 
169,528
 
For the year ending
31 March 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
15 November 2023
, and are signed on behalf of the board by:
Mr M Fryer
Director
Company registration number:
04644069
Michael Fryer Limited
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Old Police House 83 High Street
,
Sutton Veny
,
Warminster
,
Wiltshire
,
BA12 7AW
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.
These financial statements are presented in GBP, which is the Company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The directors do not anticipate any changes to the current company activity for the foreseeable future and will have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of the approval of the financial statements. Therefore, the financial statements have been prepared on a going concern basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% straight line
Fixtures and fittings
20% straight line

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
7,048
 
Additions
1,547
 
Disposals
(5,700
)
At
31 March 2023
2,895
 
Depreciation  
At
1 April 2022
5,586
 
Charge
579
 
Disposals
(5,179
)
At
31 March 2023
986
 
Carrying amount  
At
31 March 2023
1,909
 
At 31 March 2022
1,462
 

6 Debtors

20232022
££
Trade debtors
38,163
 
12,420
 
Other debtors
232,253
 
110,211
 
270,416
 
122,631
 
The debtors above include the following amounts falling due after more than one year:
20232022
££
Trade debtors
38,163
 
12,420
 
Other debtors
230,194
 
110,194
 
268,357
 
122,614
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
5,034
 
4,986
 
Trade creditors
111
 
68
 
Taxation and social security
25,121
 
24,740
 
Other creditors
1,800
 
38,126
 
32,066
 
67,920
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
31,059
 
36,140
 

9 Directors' advances, credit and guarantees

The directors owed £2,059 to the company as at 31st March 2023 (2022 - £36,021 was owed to the directors).

10 Controlling party

The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in respect of the operational and financial policies of the company.