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Registration number: 03233699

Fraser Langdon (Western) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Fraser Langdon (Western) Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

Accountants' Report

12

 

Fraser Langdon (Western) Limited

Company Information

Director

Mr Waran Hain Dellacassa

Company secretary

Carole Pearce

Registered office

Bristol Road
Portishead
Bristol
North Somerset
BS20 6QG

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Fraser Langdon (Western) Limited

Director's Report for the Year Ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr Waran Hain Dellacassa

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 8 March 2024 and signed on its behalf by:

.........................................
Mr Waran Hain Dellacassa
Director

 

Fraser Langdon (Western) Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

445,829

553,528

Cost of sales

 

(309,488)

(437,002)

Gross profit

 

136,341

116,526

Administrative expenses

 

(97,190)

(119,576)

Operating profit/(loss)

 

39,151

(3,050)

Other interest receivable and similar income

 

563

18

Interest payable and similar charges

 

(966)

(2,047)

 

(403)

(2,029)

Profit/(loss) before tax

38,748

(5,079)

Taxation

 

49,520

3,616

Profit/(loss) for the financial year

 

88,268

(1,463)

Retained earnings brought forward

 

278

3,741

Dividends paid

 

(2,000)

(2,000)

Retained earnings carried forward

 

86,546

278

 

Fraser Langdon (Western) Limited

(Registration number: 03233699)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

         

Fixed assets

   

Tangible assets

5

 

4,755

6,017

Current assets

   

Stocks

6

10,191

 

7,500

Debtors

7

74,274

 

69,692

Cash at bank and in hand

 

84,258

 

13,649

 

168,723

 

90,841

Creditors: Amounts falling due within one year

8

(85,733)

 

(95,186)

Net current assets/(liabilities)

   

82,990

(4,345)

Total assets less current liabilities

   

87,745

1,672

Creditors: Amounts falling due after more than one year

8

 

-

(336)

Provisions for liabilities

 

(1,189)

(1,048)

Net assets

   

86,556

288

Capital and reserves

   

Called up share capital

10

 

10

Profit and loss account

86,546

 

278

Total equity

   

86,556

288

 

Fraser Langdon (Western) Limited

(Registration number: 03233699)
Balance Sheet as at 31 October 2023

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 8 March 2024
 

.........................................

Mr Waran Hain Dellacassa
Director

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bristol Road
Portishead
Bristol
North Somerset
BS20 6QG

These financial statements were authorised for issue by the director on 8 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

7,650

(510)

UK corporation tax adjustment to prior periods

(57,311)

(23)

(49,661)

(533)

Deferred taxation

Arising from changes in tax rates and laws

141

(3,083)

Tax receipt in the income statement

(49,520)

(3,616)

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

500

4,530

24,062

29,092

Additions

-

825

-

825

Disposals

(500)

-

-

(500)

At 31 October 2023

-

5,355

24,062

29,417

Depreciation

At 1 November 2022

-

3,996

19,079

23,075

Charge for the year

-

341

1,246

1,587

At 31 October 2023

-

4,337

20,325

24,662

Carrying amount

At 31 October 2023

-

1,018

3,737

4,755

At 31 October 2022

500

534

4,983

6,017

Included within the net book value of land and buildings above is £Nil (2022 - £500) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Work in progress

10,191

7,500

7

Debtors

Current

2023
£

2022
£

Trade debtors

17,825

67,314

Prepayments

807

868

Other debtors

55,642

1,510

 

74,274

69,692

 

Fraser Langdon (Western) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

336

14,447

Trade creditors

 

26,440

16,214

Taxation and social security

 

15,126

23,865

Accruals and deferred income

 

28,442

1,102

Other creditors

 

15,389

39,558

 

85,733

95,186

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

336

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fraser Langdon (Western) Limited
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fraser Langdon (Western) Limited for the year ended 31 October 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fraser Langdon (Western) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fraser Langdon (Western) Limited and state those matters that we have agreed to state to the Board of Directors of Fraser Langdon (Western) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fraser Langdon (Western) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fraser Langdon (Western) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fraser Langdon (Western) Limited. You consider that Fraser Langdon (Western) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fraser Langdon (Western) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

8 March 2024