Fraser and Kamila Limited 10579136 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is residential lettings. Digita Accounts Production Advanced 6.30.9574.0 true 10579136 2023-02-01 2024-01-31 10579136 2024-01-31 10579136 core:RetainedEarningsAccumulatedLosses 2024-01-31 10579136 core:ShareCapital 2024-01-31 10579136 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10579136 core:Non-currentFinancialInstruments 2024-01-31 10579136 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10579136 core:MoreThanFiveYears 2 2024-01-31 10579136 core:FurnitureFittingsToolsEquipment 2024-01-31 10579136 bus:SmallEntities 2023-02-01 2024-01-31 10579136 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10579136 bus:FilletedAccounts 2023-02-01 2024-01-31 10579136 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10579136 bus:RegisteredOffice 2023-02-01 2024-01-31 10579136 bus:Director1 2023-02-01 2024-01-31 10579136 bus:Director2 2023-02-01 2024-01-31 10579136 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10579136 core:FurnitureFittings 2023-02-01 2024-01-31 10579136 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10579136 countries:EnglandWales 2023-02-01 2024-01-31 10579136 2023-01-31 10579136 core:FurnitureFittingsToolsEquipment 2023-01-31 10579136 2022-02-01 2023-01-31 10579136 2023-01-31 10579136 core:RetainedEarningsAccumulatedLosses 2023-01-31 10579136 core:ShareCapital 2023-01-31 10579136 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10579136 core:Non-currentFinancialInstruments 2023-01-31 10579136 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10579136 core:MoreThanFiveYears 2 2023-01-31 10579136 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 10579136

Fraser and Kamila Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Fraser and Kamila Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Fraser and Kamila Limited

Company Information

Directors

Mrs K D Williams

Mr F J Williams

Registered office

Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Fraser and Kamila Limited

(Registration number: 10579136)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,660

3,956

Investment property

5

812,201

808,201

 

814,861

812,157

Current assets

 

Cash at bank and in hand

 

3,430

19,763

Creditors: Amounts falling due within one year

6

(62,124)

(75,638)

Net current liabilities

 

(58,694)

(55,875)

Total assets less current liabilities

 

756,167

756,282

Creditors: Amounts falling due after more than one year

6

(474,528)

(474,528)

Provisions for liabilities

(53,971)

(54,003)

Net assets

 

227,668

227,751

Capital and reserves

 

Called up share capital

2

2

Retained earnings

227,666

227,749

Shareholders' funds

 

227,668

227,751

 

Fraser and Kamila Limited

(Registration number: 10579136)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 30 July 2024 and signed on its behalf by:
 

.........................................

Mr F J Williams
Director

 

Fraser and Kamila Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

These financial statements were authorised for issue by the Board on 30 July 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue 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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Fraser and Kamila Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Furniture and fittings

25% Straight Line

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Trade 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. 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.

Trade 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.

 

Fraser and Kamila Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Fraser and Kamila Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

19,348

19,348

At 31 January 2024

19,348

19,348

Depreciation

At 1 February 2023

15,392

15,392

Charge for the year

1,296

1,296

At 31 January 2024

16,688

16,688

Carrying amount

At 31 January 2024

2,660

2,660

At 31 January 2023

3,956

3,956

5

Investment properties

2024
£

At 1 February

808,201

Additions

4,000

At 31 January

812,201

The investment properties have been valued on the open market basis by the directors at the year end.

There has been no valuation of investment property by an independent valuer.

 

Fraser and Kamila Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

277

2,297

Accruals and deferred income

8,284

23,681

Other creditors

53,563

49,660

62,124

75,638

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

474,528

474,528

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

474,528

474,528

-

-

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

474,528

474,528

Secured Liabilities

The loan and overdrafts of £474,528 (2023: £474,528) is secured by a fixed charge over the company's assets.