IRIS Accounts Production v24.1.4.33 03389903 Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033899032022-12-31033899032023-12-31033899032023-01-012023-12-31033899032021-12-31033899032022-01-012022-12-31033899032022-12-3103389903ns15:EnglandWales2023-01-012023-12-3103389903ns14:PoundSterling2023-01-012023-12-3103389903ns10:Director12023-01-012023-12-3103389903ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103389903ns10:SmallEntities2023-01-012023-12-3103389903ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103389903ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103389903ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103389903ns10:FullAccounts2023-01-012023-12-310338990312023-01-012023-12-3103389903ns10:OrdinaryShareClass12023-01-012023-12-3103389903ns10:Director22023-01-012023-12-3103389903ns10:Director32023-01-012023-12-3103389903ns10:CompanySecretary12023-01-012023-12-3103389903ns10:RegisteredOffice2023-01-012023-12-3103389903ns5:CurrentFinancialInstruments2023-12-3103389903ns5:CurrentFinancialInstruments2022-12-3103389903ns5:RevaluationReserve2023-12-3103389903ns5:RevaluationReserve2022-12-3103389903ns5:RetainedEarningsAccumulatedLosses2023-12-3103389903ns5:RetainedEarningsAccumulatedLosses2022-12-3103389903ns5:NetGoodwill2023-01-012023-12-3103389903ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3103389903ns5:ComputerSoftware2023-01-012023-12-3103389903ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-3103389903ns5:PlantMachinery2023-01-012023-12-3103389903ns5:FurnitureFittings2023-01-012023-12-3103389903ns5:MotorVehicles2023-01-012023-12-3103389903ns5:NetGoodwill2022-12-3103389903ns5:ComputerSoftware2022-12-3103389903ns5:NetGoodwill2023-12-3103389903ns5:ComputerSoftware2023-12-3103389903ns5:NetGoodwill2022-12-3103389903ns5:ComputerSoftware2022-12-3103389903ns5:LandBuildings2022-12-3103389903ns5:LeaseholdImprovements2022-12-3103389903ns5:PlantMachinery2022-12-3103389903ns5:LandBuildings2023-01-012023-12-3103389903ns5:LeaseholdImprovements2023-01-012023-12-3103389903ns5:LandBuildings2023-12-3103389903ns5:LeaseholdImprovements2023-12-3103389903ns5:PlantMachinery2023-12-3103389903ns5:LandBuildings2022-12-3103389903ns5:LeaseholdImprovements2022-12-3103389903ns5:PlantMachinery2022-12-3103389903ns5:FurnitureFittings2022-12-3103389903ns5:MotorVehicles2022-12-3103389903ns5:ComputerEquipment2022-12-3103389903ns5:ComputerEquipment2023-01-012023-12-3103389903ns5:FurnitureFittings2023-12-3103389903ns5:MotorVehicles2023-12-3103389903ns5:ComputerEquipment2023-12-3103389903ns5:FurnitureFittings2022-12-3103389903ns5:MotorVehicles2022-12-3103389903ns5:ComputerEquipment2022-12-3103389903ns5:CostValuation2022-12-3103389903ns5:Subsidiary12023-01-012023-12-3103389903ns5:Subsidiary112023-01-012023-12-3103389903ns5:Subsidiary12023-12-3103389903ns5:Subsidiary12022-12-3103389903ns5:Subsidiary12022-01-012022-12-3103389903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103389903ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103389903ns10:OrdinaryShareClass12023-12-3103389903ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 03389903 (England and Wales)



















Francis Trading Holdings Limited

Unaudited Financial Statements

for the Year Ended

31 December 2023






Francis Trading Holdings Limited (Registered number: 03389903)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Francis Trading Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs P J Swindell
Mrs S J Robinson
M A Swindell





SECRETARY: Mrs P J Swindell





REGISTERED OFFICE: Unit 9B,
Thorpe Close,
Banbury,
Oxfordshire
OX16 8SW





REGISTERED NUMBER: 03389903 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Francis Trading Holdings Limited (Registered number: 03389903)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,066,741 1,033,411
Investments 6 1,000 1,000
1,067,741 1,034,411

CURRENT ASSETS
Debtors 7 99,489 128,817
Cash at bank 712,596 707,172
812,085 835,989
CREDITORS
Amounts falling due within one year 8 35,627 32,584
NET CURRENT ASSETS 776,458 803,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,844,199

1,837,816

PROVISIONS FOR LIABILITIES 58,360 52,660
NET ASSETS 1,785,839 1,785,156

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Non-distributable reserve 10 460,766 460,040
Retained earnings 10 1,324,073 1,324,116
SHAREHOLDERS' FUNDS 1,785,839 1,785,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Francis Trading Holdings Limited (Registered number: 03389903)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mrs P J Swindell - Director


Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Francis Trading Holdings 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Francis Trading Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, was amortised evenly over its estimated useful life of twenty years.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance and over the remaining term of the leases
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

The rates of depreciation on the property have been reviewed according to the various components of the building. The rate of depreciation on the main building is at the rate of 2% straight line per annum and the directors are confident that the roof should also be depreciated at this rate. Other major components have been included within the other asset categories to depreciate them at an increased rate in accordance with their estimated life span.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases
Leases which do not pass the risks and rewards of ownership to the company are charged to the profit and loss account as incurred, with due regard to the accruals concept.

Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 30,000 3,718 33,718
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000 3,718 33,718
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Tooling machinery
£    £    £   
COST OR VALUATION
At 1 January 2023 985,000 26,905 363,782
Additions - - 26,990
At 31 December 2023 985,000 26,905 390,772
DEPRECIATION
At 1 January 2023 25,200 26,905 298,708
Charge for year 12,600 - 15,495
At 31 December 2023 37,800 26,905 314,203
NET BOOK VALUE
At 31 December 2023 947,200 - 76,569
At 31 December 2022 959,800 - 65,074

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 33,914 - 19,477 1,429,078
Additions - 45,813 1,072 73,875
At 31 December 2023 33,914 45,813 20,549 1,502,953
DEPRECIATION
At 1 January 2023 28,676 - 16,178 395,667
Charge for year 966 8,399 3,085 40,545
At 31 December 2023 29,642 8,399 19,263 436,212
NET BOOK VALUE
At 31 December 2023 4,272 37,414 1,286 1,066,741
At 31 December 2022 5,238 - 3,299 1,033,411

Cost or valuation at 31 December 2023 is represented by:

Freehold Plant and
property Tooling machinery
£    £    £   
Valuation in 2015 171,192 - -
Valuation in 2020 145,000 - -
Cost 668,808 26,905 390,772
985,000 26,905 390,772

Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2015 - - - 171,192
Valuation in 2020 - - - 145,000
Cost 33,914 45,813 20,549 1,186,761
33,914 45,813 20,549 1,502,953

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 668,808 668,808
Aggregate depreciation 215,234 205,058

Value of land in freehold land and buildings 160,000 160,000

Freehold land and buildings were valued on an open market basis on 31 December 2020 by Messrs Bankier Sloan .

The value of the land held within the revalued freehold property cost of £985,000 is considered to be £355,000 and therefore this element has not been depreciated.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Swindell Painting Limited
Registered office: Unit 9B Thorpe Close Banbury Oxfordshire
Nature of business: Supply and finishing of metal components
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 58,498 39,675
Profit for the year 23,335 82,509

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,229 874
Amounts owed by group undertakings 71,897 116,287
Other debtors 10,000 10,000
Tax 4,521 1,656
Prepayments 130 -
Interest receivable 11,712 -
99,489 128,817

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 6,976 5,473
Social security and other taxes 2,306 2,177
VAT 2,794 1,705
Other creditors 1,085 1,058
Directors' current accounts 2,635 2,660
Accrued expenses 19,831 19,511
35,627 32,584

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

Francis Trading Holdings Limited (Registered number: 03389903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. RESERVES
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 January 2023 1,324,116 460,040 1,784,156
Profit for the year 9,323 9,323
Dividends (8,640 ) (8,640 )
Release of surplus depreciation on
revaluation of freehold property

2,424

(2,424

)

-

Deferred tax movement on
revaluation

(3,150

)

3,150

-

At 31 December 2023 1,324,073 460,766 1,784,839

The non-distributable reserve wholly relates to the surplus on revaluation of the freehold property.

11. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - 45,813

12. RELATED PARTY DISCLOSURES

The company provided management services to its subsidiary undertaking, Swindell Painting Limited, during the year in the amount of £126,000 (2022 £126,000). The net balance owed to the company by the subsidiary company, Swindell Painting Limited, as at 31st December 2023 was in the amount of £71,897 (2022 £116,287).

13. ULTIMATE CONTROLLING PARTY

Mr M A and Mrs P J Swindell are the joint ultimate controlling parties of the company.