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REGISTERED NUMBER: 06178993 (England and Wales)















FRANKLIN DAVIES (IFA) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024






FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANKLIN DAVIES (IFA) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mrs D Davies
Mr J S Davies
Mr S R Davies
Mrs P L Davies





REGISTERED OFFICE: 24 Cardiff Road
Dinas Powys
South Glamorgan
CF64 4JS





REGISTERED NUMBER: 06178993 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1 1
1 1

CURRENT ASSETS
Debtors 6 41,457 54,876
Cash at bank 29,014 33,957
70,471 88,833
CREDITORS
Amounts falling due within one year 7 18,609 21,124
NET CURRENT ASSETS 51,862 67,709
TOTAL ASSETS LESS CURRENT LIABILITIES 51,863 67,710

CREDITORS
Amounts falling due after more than one year 8 31,507 36,535
NET ASSETS 20,356 31,175

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,256 31,075
20,356 31,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

BALANCE SHEET - continued
31ST MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd August 2024 and were signed on its behalf by:





Mr J S Davies - Director


FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Franklin Davies (Ifa) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% straight line on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 50,000
AMORTISATION
At 1st April 2023
and 31st March 2024 50,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2023
and 31st March 2024 3,985
DEPRECIATION
At 1st April 2023
and 31st March 2024 3,984
NET BOOK VALUE
At 31st March 2024 1
At 31st March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 41,457 54,876

FRANKLIN DAVIES (IFA) LIMITED (REGISTERED NUMBER: 06178993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 11,482 14,324
Other creditors 2,127 1,800
18,609 21,124

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 31,507 36,515
Taxation and social security - 20
31,507 36,535