Company registration number 14455754 (England and Wales)
FRANK DESIGN HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
FRANK DESIGN HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr A P Moran
(Appointed 1 November 2022)
Mr J Wise
(Appointed 1 November 2022)
Company number
14455754
Registered office
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
FRANK DESIGN HOLDINGS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
FRANK DESIGN HOLDINGS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRANK DESIGN HOLDINGS LIMITED FOR THE PERIOD ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Frank Design Holdings Limited for the period ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Frank Design Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Frank Design Holdings Limited and state those matters that we have agreed to state to the board of directors of Frank Design Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frank Design Holdings Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Frank Design Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frank Design Holdings Limited. You consider that Frank Design Holdings Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Frank Design Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
29 July 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
FRANK DESIGN HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
Notes
£
£
Fixed assets
Investments
3
49,184
Current assets
Debtors
4
590,882
Creditors: amounts falling due within one year
5
(1,355)
Net current assets
589,527
Net assets
638,711
Capital and reserves
Called up share capital
6
444
Profit and loss reserves
638,267
Total equity
638,711
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mr A P Moran
Mr J Wise
Director
Director
Company registration number 14455754 (England and Wales)
FRANK DESIGN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Frank Design Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Oakley, Kidderminster Road, Droitwich, Worcestershire, WR9 9AY.
1.1
Accounting convention
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
2
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
49,184
FRANK DESIGN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 November 2022
-
Additions
49,184
At 31 March 2024
49,184
Carrying amount
At 31 March 2024
49,184
4
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
590,882
5
Creditors: amounts falling due within one year
2024
£
Other creditors
1,355
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
337
337
Ordinary A of £1 each
107
107
444
444
FRANK DESIGN HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
6
Called up share capital
(Continued)
- 5 -
The following shares were allotted and fully paid for cash at par during the period:
86 Ordinary of £1 each
117 Ordinary A of £1 each
18 Ordinary B of £1 each
7 Ordinary C of £1 each
The company then underwent a share for share exchange, whereby the following shares were issued:
81 Ordinary of £1 each
117 Ordinary A of £1 each
18 Ordinary B of £1 each
Subsequently, the company then passed a special resolution by reclassifying 7 Ordinary C £1 shares into 7 Ordinary £1 shares, 36 Ordinary B £1 shares into 36 Ordinary £1 shares, and 127 Ordinary A £1 shares into 127 Ordinary £1 shares. The rights and privileges attached to these shares remain unaltered.
7
Ultimate controlling party
The ultimate controlling party is Mr A P Morgan.
8
Comparatives
This is the company's first period of trade, therefore there are no comparatives.