Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falsePurchasing, renting and selling of properties.22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10752761 2023-01-01 2023-12-31 10752761 2022-01-01 2022-12-31 10752761 2023-12-31 10752761 2022-12-31 10752761 c:Director1 2023-01-01 2023-12-31 10752761 d:ComputerEquipment 2023-01-01 2023-12-31 10752761 d:ComputerEquipment 2023-12-31 10752761 d:ComputerEquipment 2022-12-31 10752761 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10752761 d:FreeholdInvestmentProperty 2023-12-31 10752761 d:FreeholdInvestmentProperty 2022-12-31 10752761 d:CurrentFinancialInstruments 2023-12-31 10752761 d:CurrentFinancialInstruments 2022-12-31 10752761 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10752761 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10752761 d:ShareCapital 2023-12-31 10752761 d:ShareCapital 2022-12-31 10752761 d:RevaluationReserve 2023-12-31 10752761 d:RevaluationReserve 2022-12-31 10752761 d:RetainedEarningsAccumulatedLosses 2023-12-31 10752761 d:RetainedEarningsAccumulatedLosses 2022-12-31 10752761 c:FRS102 2023-01-01 2023-12-31 10752761 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10752761 c:FullAccounts 2023-01-01 2023-12-31 10752761 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10752761 d:WithinOneYear 2023-12-31 10752761 d:WithinOneYear 2022-12-31 10752761 d:BetweenOneFiveYears 2023-12-31 10752761 d:BetweenOneFiveYears 2022-12-31 10752761 d:MoreThanFiveYears 2023-12-31 10752761 d:MoreThanFiveYears 2022-12-31 10752761 5 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10752761










FRANKHAM BROS HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FRANKHAM BROS HOLDINGS LIMITED
REGISTERED NUMBER: 10752761

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
551
-

Investment property
 5 
4,601,601
4,601,601

  
4,602,152
4,601,601

Current assets
  

Stocks
  
658,875
821,873

Debtors: amounts falling due within one year
 6 
3,335
3,443

Bank and cash balances
  
207,752
126,441

  
869,962
951,757

Creditors: amounts falling due within one year
 7 
(151,983)
(56,996)

Net current assets
  
 
 
717,979
 
 
894,761

Total assets less current liabilities
  
5,320,131
5,496,362

Provisions for liabilities
  

Deferred tax
  
(571,811)
(571,811)

  
 
 
(571,811)
 
 
(571,811)

Net assets
  
4,748,320
4,924,551


Capital and reserves
  

Called up share capital 
  
300
300

Revaluation reserve
  
2,287,244
2,287,244

Profit and loss account
  
2,460,776
2,637,007

  
4,748,320
4,924,551


Page 1

 
FRANKHAM BROS HOLDINGS LIMITED
REGISTERED NUMBER: 10752761
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M N Frankham
Director

Date: 7 August 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Frankham Bros Holdings Limited is a private company limited by shares, which is incorporated in England and Wales, registration number 10752761. The registered office is Wharf Way, Glen Parva, Leicester, LE2 9TF.
Principal activity
The principal activity of the Company during the period was that of purchasing, renting and selling of properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentational currency is British Pound Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to the Profit and Loss Account on a straight line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Page 3

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the Profit and Loss Account.

 
2.10

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

Page 5

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.15

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 ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction cost, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the
Page 6

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
661



At 31 December 2023

661



Depreciation


Charge for the year on owned assets
110



At 31 December 2023

110



Net book value



At 31 December 2023
551



At 31 December 2022
-

Page 7

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
4,601,601



At 31 December 2023
4,601,601

The 2023 valuations were made by the directors, on an open market value for existing use basis.






6.


Debtors

2023
2022
£
£


Trade debtors
1,800
1,908

Other debtors
1,535
1,535

3,335
3,443



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
639
-

Trade creditors
-
337

Corporation tax
132,679
39,238

Other taxation and social security
16,665
14,921

Other creditors
-
500

Accruals and deferred income
2,000
2,000

151,983
56,996


Page 8

 
FRANKHAM BROS HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Commitments receivable under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
180,000
180,000

Later than 1 year and not later than 5 years
720,000
720,000

Later than 5 years
1,260,000
1,440,000

2,160,000
2,340,000

 
Page 9