1 July 2022 v2024.8.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP116299852022-07-012023-06-30116299852023-06-30116299852022-06-3011629985core:WithinOneYear2023-06-3011629985core:WithinOneYear2022-06-3011629985core:ShareCapital2023-06-3011629985core:ShareCapital2022-06-3011629985core:RetainedEarningsAccumulatedLosses2023-06-3011629985core:RetainedEarningsAccumulatedLosses2022-06-3011629985bus:Director12022-07-012023-06-3011629985bus:RegisteredOffice2022-07-012023-06-301162998512022-07-012023-06-30116299852021-10-012022-06-3011629985countries:EnglandWales2022-07-012023-06-3011629985bus:AuditExempt-NoAccountantsReport2022-07-012023-06-3011629985bus:PrivateLimitedCompanyLtd2022-07-012023-06-3011629985bus:SmallEntities2022-07-012023-06-3011629985bus:FullAccounts2022-07-012023-06-30
Company registration number:
11629985
Frome (Sv) Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Frome (Sv) Limited
Statement of Financial Position
30 June 2023
20232022
Note££
Current assets    
Stocks
1,281,000
 
897,267
 
Debtors 5
102,631
 
72,800
 
Cash at bank and in hand
3,787
 
985
 
1,387,418
 
971,052
 
Creditors: amounts falling due within one year 6
(1,810,295
)
(1,337,440
)
Net current liabilities
(422,877
)
(366,388
)
Total assets less current liabilities (422,877 ) (366,388 )
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
(422,977
)
(366,488
)
Shareholders deficit
(422,877
)
(366,388
)
For the year ending
30 June 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 March 2024
, and are signed on behalf of the board by:
M Omirou
Director
Company registration number:
11629985
Frome (Sv) Limited
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1 Frederick Place
,
London
,
N8 8AF
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents amounts receivable from inter group companies in the form of management charges.

Stocks

Stocks represents property acquired for development together with work in progress on those properties. The resultant stock and work in progress is valued at the lower of cost or net realisable value. Cost comprises the acquisition cost of the land and buildings, together with related legal and professional costs, development and borrowing costs. In considering net realisable value, it is assumed that developments will be completed and sold in the ordinary course of business and not placed on the market for immediate sale in their current state of development. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

5 Debtors

20232022
££
Trade debtors
62,516
  -  
Amounts owed by group undertakings and undertakings in which the company has a participating interest -  
18,100
 
Other debtors
40,115
 
54,700
 
102,631
 
72,800
 

6 Creditors: amounts falling due within one year

20232022
££
Trade creditors
114,834
 
45,320
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
111,413
  -  
Other creditors
1,584,048
 
1,292,120
 
1,810,295
 
1,337,440