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REGISTERED NUMBER: 13497284 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Francome's Building Supplies Ltd

Francome's Building Supplies Ltd (Registered number: 13497284)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Francome's Building Supplies Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S Ricketts
Mrs K Igoe-Ricketts





REGISTERED OFFICE: WPI Trading Estate
Chelford Road
Ollerton
Knutsford
WA16 8TA





REGISTERED NUMBER: 13497284 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
Level 7, Tower 12,
18-22 Bridge Street,
Spinningfields,
Manchester
M3 3BZ

Francome's Building Supplies Ltd (Registered number: 13497284)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 624,720 581,684

CURRENT ASSETS
Stocks 806,361 374,450
Debtors 5 285,060 184,180
Cash at bank and in hand 44,994 22,709
1,136,415 581,339
CREDITORS
Amounts falling due within one year 6 677,451 1,244,842
NET CURRENT ASSETS/(LIABILITIES) 458,964 (663,503 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,083,684

(81,819

)

CREDITORS
Amounts falling due after more than one
year

7

924,089

-
NET ASSETS/(LIABILITIES) 159,595 (81,819 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 159,593 (81,821 )
SHAREHOLDERS' FUNDS 159,595 (81,819 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Francome's Building Supplies Ltd (Registered number: 13497284)

Balance Sheet - continued
31 July 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





S Ricketts - Director


Francome's Building Supplies Ltd (Registered number: 13497284)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Francome's Building Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Francome's Building Supplies Ltd (Registered number: 13497284)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 322,707 188,190 10,561 98,095 619,553
Additions - 44,192 - 65,050 109,242
Disposals - - - (6,000 ) (6,000 )
Reclassification/transfer - (40,000 ) - 40,000 -
At 31 July 2023 322,707 192,382 10,561 197,145 722,795
DEPRECIATION
At 1 August 2022 - 14,325 817 22,727 37,869
Charge for year - 20,763 2,436 38,382 61,581
Eliminated on disposal - - - (1,375 ) (1,375 )
At 31 July 2023 - 35,088 3,253 59,734 98,075
NET BOOK VALUE
At 31 July 2023 322,707 157,294 7,308 137,411 624,720
At 31 July 2022 322,707 173,865 9,744 75,368 581,684

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2022 22,500 - 22,500
Additions 25,000 45,800 70,800
At 31 July 2023 47,500 45,800 93,300
DEPRECIATION
Charge for year 3,688 7,633 11,321
At 31 July 2023 3,688 7,633 11,321
NET BOOK VALUE
At 31 July 2023 43,812 38,167 81,979
At 31 July 2022 22,500 - 22,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 279,747 167,282
Other debtors 5,313 16,898
285,060 184,180

Francome's Building Supplies Ltd (Registered number: 13497284)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 33,165 16,875
Trade creditors 460,290 234,228
Taxation and social security 55,780 7,889
Other creditors 128,216 985,850
677,451 1,244,842

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 24,089 -
Other creditors 900,000 -
924,089 -

8. RELATED PARTY DISCLOSURES

At 31 July 2023 the company owed the directors £1,021,329 (2022:£981,327).
The amount is interest free and £900,000 is due after more than one year.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their shareholdings.