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FRY ESTATE AGENTS LIMITED

Registered Number
11792590
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

FRY ESTATE AGENTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

Michael Fry

Registered Address

24 Castle Lane
Bedford
MK40 3US

Registered Number

11792590 (England and Wales)
FRY ESTATE AGENTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets34002,800
Tangible assets49952,029
1,3954,829
Current assets
Debtors5,1557,421
Cash at bank and on hand99,829163,712
104,984171,133
Creditors amounts falling due within one year6(67,714)(136,445)
Net current assets (liabilities)37,27034,688
Total assets less current liabilities38,66539,517
Net assets38,66539,517
Capital and reserves
Called up share capital100100
Profit and loss account38,56539,417
Shareholders' funds38,66539,517
The financial statements were approved and authorised for issue by the Director on 27 March 2024, and are signed on its behalf by:
Michael Fry
Director
Registered Company No. 11792590
FRY ESTATE AGENTS LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The company's ultimate parent company is Byron May Holdings Limited, incorporated in England.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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.
Intangible assets
Amortisation is provided on intangible assets so as to write off the cost, less any estimate residual value, over their useful life. Goodwill is being amortised over 5 years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year55
3.Intangible assets

Total

£
Cost or valuation
At 01 February 2312,000
At 31 January 2412,000
Amortisation and impairment
At 01 February 239,200
Charge for year2,400
At 31 January 2411,600
Net book value
At 31 January 24400
At 31 January 232,800
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 238,927
Additions499
At 31 January 249,426
Depreciation and impairment
At 01 February 236,898
Charge for year1,533
At 31 January 248,431
Net book value
At 31 January 24995
At 31 January 232,029
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,4026,390
Prepayments and accrued income1,7531,031
Total5,1557,421
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables780-
Amounts owed to related parties40,00040,000
Taxation and social security7,38730,082
Other creditors17,87764,391
Accrued liabilities and deferred income1,6701,972
Total67,714136,445
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Related party transactions
Within creditors due within one year is an amount of £40,000 (2023 - £40,000) due to Byron May Holdings Limited, a subsidiary company. The loan is interest free with no fixed terms of repayment. Within creditors due within one year is an amount of £17,877 (2023 - £64,292) due to the company director and close family. The loan is interest free with no fixed terms of repayment.