Registered number
05706346
Fresh Finance Group Limited
Filleted Accounts
30 May 2023
Fresh Finance Group Limited
Registered number: 05706346
Balance Sheet
as at 30 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 30,000 30,000
Tangible assets 3 2,417 3,748
Investments - -
32,417 33,748
Current assets
Stocks - -
Debtors 4 - -
Investments held as current assets - -
Cash at bank and in hand 152,896 119,283
152,896 119,283
Creditors: amounts falling due within one year 5 (67,541) (50,930)
Net current assets 85,355 68,353
Total assets less current liabilities 117,772 102,101
Creditors: amounts falling due after more than one year 6 (38,355) (48,357)
Provisions for liabilities - -
Net assets 79,417 53,744
Capital and reserves
Called up share capital 1,002 1,002
Share premium - -
Revaluation reserve - -
Profit and loss account 78,415 52,742
Shareholders' funds 79,417 53,744
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stuart Mcminn
Director
Approved by the board on 20 July 2023
Fresh Finance Group Limited
Notes to the Accounts
for the year ended 30 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on cost and Straight line over 4 years
Fixtures, fittings, tools and equipment 25% on cost and Straight line over 4 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total Total
£ £ £ £ £
Cost
At 31 May 2022 - 18,374 - 18,374 18,374
Additions - - - - -
Surplus on revaluation - - - - -
Disposals - - - - -
At 30 May 2023 - 18,374 - 18,374 18,374
Depreciation
At 31 May 2022 - 14,626 - 14,626 14,626
Charge for the year - 1,331 - 1,331 1,331
Surplus on revaluation - - - - -
On disposals - - - - -
At 30 May 2023 - 15,957 - 15,957 15,957
Net book value
At 30 May 2023 - 2,417 - 2,417 2,417
At 30 May 2022 - 3,748 - 3,748 3,748
4 Debtors 2023 2022
£ £
Trade debtors - -
Amounts owed by group undertakings and undertakings in which the company has a participating interest - -
Other debtors - -
- -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts - -
Trade creditors 470 2,064
Amounts owed to group undertakings and undertakings in which the company has a participating interest 40,766 35,037
Taxation and social security costs 20,713 12,939
Other creditors 5,592 890
67,541 50,930
6 Creditors: amounts falling due after one year 2023 2022
£ £
Non-equity preference shares - -
Bank loans 38,355 48,357
Obligations under finance lease and hire purchase contracts - -
Trade creditors - -
Amounts owed to group undertakings and undertakings in which the company has a participating interest - -
Other creditors - -
38,355 48,357
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
James Rank
[Loan 1] 244 - (3,015) (2,771)
Stuart Mcminn
[Loan 1] 2,280 (6,215) (3,935)
2,524 - (9,230) (6,706)
8 Related party transactions
Diamond Wills and Estate Planning Limited is a Company the directors each have an interest in. Diamond Wills and Estate Planning Limited was owed £11,001 at 30 May 2022 and was owed £11,001 at 30 May 2023.
Lets Move Home (UK) Limited is a Company the directors each have an interest in. Lets Move Home (UK)
Limited was owed £26,571 at 30 May 2022 and was owed £23,071 at 30 May 2023.
9 Other information
Fresh Finance Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sutherland Institute
Lightwood Rd
Stoke-On-Trent
ST3 4HY
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