Company Registration No. 10875486 (England and Wales)
Frane Ltd
Unaudited accounts
for the year ended 31 July 2023
Frane Ltd
Unaudited accounts
Contents
Frane Ltd
Company Information
for the year ended 31 July 2023
Director
Mrs Fatos KOCAKAYA-RANE
Company Number
10875486 (England and Wales)
Registered Office
122 Lavender Hill
Enfield
EN2 0QU
England
Accountants
DNG Associates
214 Baker Street
Enfield
London
EN1 3JT
Frane Ltd
Statement of financial position
as at 31 July 2023
Intangible assets
60,000
60,000
Tangible assets
29,178
32,358
Cash at bank and in hand
33,341
64,059
Creditors: amounts falling due within one year
(36,951)
(88,053)
Net current assets
69,091
52,532
Total assets less current liabilities
158,269
144,890
Creditors: amounts falling due after more than one year
(31,503)
(45,266)
Called up share capital
100
100
Profit and loss account
126,666
99,524
Shareholders' funds
126,766
99,624
For the year ending 31 July 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 her 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 13 March 2024 and were signed on its behalf by
Mrs Fatos KOCAKAYA-RANE
Director
Company Registration No. 10875486
Frane Ltd
Notes to the Accounts
for the year ended 31 July 2023
Frane Ltd is a private company, limited by shares, registered in England and Wales, registration number 10875486. The registered office is 122 Lavender Hill, Enfield, EN2 0QU, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Land & buildings
18% - reducing balance method
Plant & machinery
18% - reducing balance method
Fixtures & fittings
18% - reducing balance method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Frane Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2022
4,307
29,229
13,367
46,903
At 31 July 2023
4,307
32,454
13,367
50,128
At 1 August 2022
-
5,845
8,700
14,545
Charge for the year
775
4,790
840
6,405
At 31 July 2023
775
10,635
9,540
20,950
At 31 July 2023
3,532
21,819
3,827
29,178
At 31 July 2022
4,307
23,384
4,667
32,358
Amounts falling due within one year
Accrued income and prepayments
-
700
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
9,121
29,945
Taxes and social security
15,035
10,915
Other creditors
4,547
44,526
Frane Ltd
Notes to the Accounts
for the year ended 31 July 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
18,259
22,929
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 6 (2022: 7).