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Company Registration No. 10875486 (England and Wales)
Frane Ltd Unaudited accounts for the year ended 31 July 2023
Frane Ltd Unaudited accounts Contents
Page
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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
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Frane Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
60,000 
60,000 
Tangible assets
29,178 
32,358 
89,178 
92,358 
Current assets
Inventories
64,625 
67,750 
Debtors
8,076 
8,776 
Cash at bank and in hand
33,341 
64,059 
106,042 
140,585 
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)
Net assets
126,766 
99,624 
Capital and reserves
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
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Frane Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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.
Pension costs
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.
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Frane Ltd Notes to the Accounts for the year ended 31 July 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2022
60,000 
At 31 July 2023
60,000 
Amortisation
At 1 August 2022
- 
At 31 July 2023
- 
Net book value
At 31 July 2023
60,000 
At 31 July 2022
60,000 
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 
Additions
- 
3,225 
- 
3,225 
At 31 July 2023
4,307 
32,454 
13,367 
50,128 
Depreciation
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 
Net book value
At 31 July 2023
3,532 
21,819 
3,827 
29,178 
At 31 July 2022
4,307 
23,384 
4,667 
32,358 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
700 
Other debtors
8,076 
8,076 
8,076 
8,776 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
7,128 
142 
Trade creditors
9,121 
29,945 
Taxes and social security
15,035 
10,915 
Other creditors
4,547 
44,526 
Accruals
1,120 
2,525 
36,951 
88,053 
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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 
£ 
£ 
Bank loans
13,244 
22,337 
Obligations under finance leases and hire purchase contracts
18,259 
22,929 
31,503 
45,266 
9
Share capital
2023 
2022 
£ 
£ 
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).
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