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Registration number: 01771512

Frenger Consulting Services Limited

Filleted Financial Statements

for the Period from 1 October 2022 to 31 December 2023

Pages for Filing with Registrar

 

Frenger Consulting Services Limited

(Registration number: 01771512)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

5,579

337

Current assets

 

Debtors

7

108,487

119,170

Cash at bank and in hand

 

139,779

104,888

 

248,266

224,058

Creditors: Amounts falling due within one year

8

(123,933)

(104,447)

Net current assets

 

124,333

119,611

Total assets less current liabilities

 

129,912

119,948

Provisions for liabilities

(15,000)

-

Net assets

 

114,912

119,948

Capital and reserves

 

Called up share capital

9

10,000

10,000

Other reserves

1

1

Retained earnings

104,911

109,947

Shareholders' funds

 

114,912

119,948

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2024 and signed on its behalf by:
 

.........................................
B Mermet
Company secretary and director

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 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:
Wilberforce House
Station Road
London
NW4 4QE
United Kingdom

Principal activity

The principal activity of the Company is that of international development specialists.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The prior year figures are unaudited.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office Equipment

3 years

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

Debtors

Trade debtors are amounts due from customers for 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.

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.

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.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 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

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 April 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

5

Staff numbers

The average number of persons employed by the Company (including directors) during the period, was 5 (2022 - 5).

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

6

Tangible assets

Other tangible assets

Total
£

Cost or valuation

At 1 October 2022

28,992

28,992

Additions

6,630

6,630

At 31 December 2023

35,622

35,622

Depreciation

At 1 October 2022

28,655

28,655

Charge for the period

1,388

1,388

At 31 December 2023

30,043

30,043

Carrying amount

At 31 December 2023

5,579

5,579

At 30 September 2022

337

337

7

Debtors

2023
£

2022
£

Trade debtors

63,733

93,057

Amounts owed by group undertakings

5,965

-

Prepayments

23,724

15,840

Other debtors

15,065

10,273

108,487

119,170

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

26,930

3,933

Amounts owed to group undertakings

8,027

7,483

Taxation and social security

16,022

15,823

Accruals and deferred income

50,454

75,475

Other creditors

22,500

1,733

123,933

104,447

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

8,000

8,000

8,000

8,000

Ordinary B shares of £1 each

2,000

2,000

2,000

2,000

 

10,000

10,000

10,000

10,000

The Ordinary "A" £1 shares and Ordinary "B" £1 shares are separate classes of shares for the purpose of declaration of dividends. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in respect of any other class of share. The Ordinary "A" £1 and Ordinary "B" £1 shares rank pari passu in all other respects.

 

Frenger Consulting Services Limited

Notes to the Financial Statements for the Period from 1 October 2022 to 31 December 2023

10

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £4.00 (2022 - £1.00) per each Ordinary A shares

 

40,000

 

10,000

         

11

Related party transactions

Within the year, there have been the following related party transactions:

During the period there were transactions amount of £5,964 (2022: £nil) from Altios Consulting, with a carried forward balance of £5,964 (2022: £nil).

During the period there were transactions due to Frenger International Limited amounting -£4,770 (2022: £nil), with a carried forward balance of -£4,770 (2022: £nil).

During the period there were payments made to Frenger Business Services of -£4,226 (2022: £nil)with a carried forward balance of -£3,257 (2022: -£7,483).

12

Parent and ultimate parent undertaking

The Company's immediate parent is Altios Consulting Limited, incorporated in England and Wales.

  These financial statements are available upon request from Wilberforce House, Station Road, London, NW4 4QE