FRASER PARTNERS LTD

Company Registration Number:
NI665629 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 December 2021

End date: 31 March 2023

FRASER PARTNERS LTD

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

FRASER PARTNERS LTD

Balance sheet

As at 31 March 2023


Notes

16 months to 31 March 2023

2021


£

£
Fixed assets
Tangible assets: 3 96,067 0
Total fixed assets: 96,067 0
Current assets
Stocks: 4,032,998
Debtors:   181,749
Cash at bank and in hand: 780,975 3
Total current assets: 4,995,722 3
Creditors: amounts falling due within one year:   (4,780,992)
Net current assets (liabilities): 214,730 3
Total assets less current liabilities: 310,797 3
Creditors: amounts falling due after more than one year:   (59,400)
Provision for liabilities: (24,017)
Total net assets (liabilities): 227,380 3
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 227,377
Shareholders funds: 227,380 3

The notes form part of these financial statements

FRASER PARTNERS LTD

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 April 2024
and signed on behalf of the board by:

Name: J M Fraser
Status: Director

The notes form part of these financial statements

FRASER PARTNERS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue is recognised when the significant risks and rewards of ownership have transferred to the end buyer usually upon receipt of proceeds from sale of houses the amount of revenue can be measured reliably it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably Deposits received from customers in advance of completion of sales of goods or in advance of the stage of completion of services at the end of the financial period are not recognised as income and are included in creditors.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows Plant and machinery at 15 per cent straight line per annum

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. At the end of each reporting period, stocks and work in progress are assessed for impairment. If an element or elements of stock are impaired, that item is measured at it selling price less costs to complete and sell, and an impairment loss is recognised.

Other accounting policies

The Directors have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the company continues to adopt the going concern basis in preparing the financial statements Judgements and key sources of estimation uncertainty In the process of applying the company's accounting policies management has not made any significant judgements There are no key assumptions concerning the future or other key sources of estimation that have significant risk of raising a material adjustment to the carrying amount of assets and liabilities within the financial period The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period Tax is recognised in profit or loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity In this case tax is recognised in other comprehensive income or directly in equity respectively 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 Deferred tax is recognised in respect of all timing differences at the reporting date Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference Finance leases and hire purchase contracts Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments which is determined at the inception of the lease term Any initial direct costs of the lease are added to the amount recognised as an asset Financial instruments The Company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors creditors hire purchase agreements and loans from banks

FRASER PARTNERS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

16 months to 31 March 2023 2021
Average number of employees during the period 9 0

FRASER PARTNERS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 December 2021 0
Additions 104,800
At 31 March 2023 104,800
Depreciation
At 01 December 2021 0
Charge for year 8,733
At 31 March 2023 8,733
Net book value
At 31 March 2023 96,067
At 30 November 2021 0

FRASER PARTNERS LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Related party transactions

The company is under the control of the directors.