Company Registration No. 04578735 (England and Wales)
FRASER EVANS & SONS LIMITED
Unaudited accounts
for the year ended 30 November 2023
FRASER EVANS & SONS LIMITED
Unaudited accounts
Contents
FRASER EVANS & SONS LIMITED
Company Information
for the year ended 30 November 2023
Directors
Mr Edward EVANS
Mrs Joan EVANS
Mr Mark EVANS
Mr Grant EVANS
Mr Gavin EVANS
Company Number
04578735 (England and Wales)
Registered Office
Tyre Recycling Centre, Worsham
Burford Road
MINSTER LOVELL
Oxfordshire
OX29 0RU
Accountants
RM Whitehouse & Co Ltd
Spring Bank
Shipton Road
Milton under Wychwood
Oxfordshire
OX7 6JS
FRASER EVANS & SONS LIMITED
Statement of financial position
as at 30 November 2023
Tangible assets
424,253
300,775
Cash at bank and in hand
681,394
423,579
Creditors: amounts falling due within one year
(356,680)
(350,284)
Net current assets
576,329
443,061
Total assets less current liabilities
1,000,582
743,836
Creditors: amounts falling due after more than one year
(22,361)
(46,355)
Provisions for liabilities
Deferred tax
(103,989)
(45,482)
Net assets
874,232
651,999
Called up share capital
180
180
Profit and loss account
874,052
651,819
Shareholders' funds
874,232
651,999
For the year ending 30 November 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 directors acknowledge their 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 of Directors and authorised for issue on 19 July 2024 and were signed on its behalf by
Mr Grant EVANS
Director
Company Registration No. 04578735
FRASER EVANS & SONS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
FRASER EVANS & SONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04578735. The registered office is Tyre Recycling Centre, Worsham, Burford Road, MINSTER LOVELL, Oxfordshire, OX29 0RU.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Reducing balance
Plant & machinery
25% Reducing balance
Motor vehicles
25% Reducing balance
Computer equipment
25% Reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
FRASER EVANS & SONS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
At 30 November 2023
60,000
At 30 November 2023
60,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
27,513
356,853
374,776
759,142
Additions
-
122,509
153,982
276,491
Disposals
-
(47,500)
-
(47,500)
At 30 November 2023
27,513
431,862
528,758
988,133
At 1 December 2022
19,742
270,061
168,564
458,367
Charge for the year
777
46,551
93,608
140,936
On disposals
-
(35,423)
-
(35,423)
At 30 November 2023
20,519
281,189
262,172
563,880
At 30 November 2023
6,994
150,673
266,586
424,253
At 30 November 2022
7,771
86,792
206,212
300,775
Amounts falling due within one year
Trade debtors
249,460
367,611
FRASER EVANS & SONS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,128
9,872
Obligations under finance leases and hire purchase contracts
8,580
14,299
Trade creditors
142,269
44,868
Taxes and social security
137,676
187,830
Loans from directors
56,324
90,795
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
6,691
20,558
Allotted, called up and fully paid:
90 Ordinary A shares of £1 each
90
90
90 Ordinary B shares of £1 each
90
90
10
Average number of employees
During the year the average number of employees was 16 (2022: 16).