Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01false11truetruefalse 03708149 2023-01-01 2023-12-31 03708149 2022-01-01 2022-12-31 03708149 2023-12-31 03708149 2022-12-31 03708149 2022-01-01 03708149 c:Director1 2023-01-01 2023-12-31 03708149 d:OfficeEquipment 2023-01-01 2023-12-31 03708149 d:OfficeEquipment 2023-12-31 03708149 d:OfficeEquipment 2022-12-31 03708149 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 03708149 d:FreeholdInvestmentProperty 2023-12-31 03708149 d:FreeholdInvestmentProperty 2022-12-31 03708149 d:CurrentFinancialInstruments 2023-12-31 03708149 d:CurrentFinancialInstruments 2022-12-31 03708149 d:Non-currentFinancialInstruments 2023-12-31 03708149 d:Non-currentFinancialInstruments 2022-12-31 03708149 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03708149 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03708149 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03708149 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03708149 d:ShareCapital 2023-12-31 03708149 d:ShareCapital 2022-12-31 03708149 d:RevaluationReserve 2023-01-01 2023-12-31 03708149 d:RevaluationReserve 2023-12-31 03708149 d:RevaluationReserve 2022-12-31 03708149 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03708149 d:RetainedEarningsAccumulatedLosses 2023-12-31 03708149 d:RetainedEarningsAccumulatedLosses 2022-12-31 03708149 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 03708149 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 03708149 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 03708149 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 03708149 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03708149 c:OrdinaryShareClass1 2023-12-31 03708149 c:OrdinaryShareClass1 2022-12-31 03708149 c:FRS102 2023-01-01 2023-12-31 03708149 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03708149 c:FullAccounts 2023-01-01 2023-12-31 03708149 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03708149 d:EntityControlledByKeyManagementPersonnel1 2023-01-01 2023-12-31 03708149 d:EntityControlledByKeyManagementPersonnel1 2023-12-31 03708149 d:EntityControlledByKeyManagementPersonnel1 2022-12-31 03708149 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 03708149 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 03708149 6 2023-01-01 2023-12-31 03708149 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 03708149









FRASER DESIGNED LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FRASER DESIGNED LIMITED
REGISTERED NUMBER: 03708149

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
105,000
105,000

Investment property
 6 
-
640,000

  
105,000
745,000

Current assets
  

Debtors: amounts falling due within one year
 7 
811,721
768,217

Cash at bank and in hand
  
468,699
3,458

  
1,280,420
771,675

Creditors: amounts falling due within one year
 8 
(513,733)
(511,286)

Net current assets
  
 
 
766,687
 
 
260,389

Total assets less current liabilities
  
871,687
1,005,389

Creditors: amounts falling due after more than one year
 9 
-
(157,067)

  

Net assets
  
871,687
848,322


Capital and reserves
  

Called up share capital 
 11 
2
2

Investment property revaluation reserve
  
-
236,222

Profit and loss account
  
871,685
612,098

  
871,687
848,322


Page 1

 
FRASER DESIGNED LIMITED
REGISTERED NUMBER: 03708149

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 statement of comprehensive income 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: 




I Fraser
Director

Date: 8 August 2024

Page 2

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Fraser Design Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is The Office-Brays Farm House, Bower Hill Lane, South Nutfield, Redhill, Surrey, RH1 4EH. 
The financial statements are presented in Pound Sterling (£).

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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.

Page 3

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

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:

Office equipment
-
33%
Straight Line

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.

 
2.5

Investment property

Investment property is carried at fair value determined by the director 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 profit or loss.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.9

Creditors

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

Page 4

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate
Page 5

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
5,668



At 31 December 2023

5,668



Depreciation


At 1 January 2023
5,668



At 31 December 2023

5,668



Net book value



At 31 December 2023
-



At 31 December 2022
-

Page 6

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 January 2023
105,000



At 31 December 2023
105,000





6.


Investment property


Freehold investment property

£





At 1 January 2023
640,000


Disposals
(640,000)



At 31 December 2023
-

The 2023 valuations were made by the director on a fair value basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
-
388,337


7.


Debtors

2023
2022
£
£


Other debtors
811,721
763,613

Deferred taxation
-
4,604

811,721
768,217


Page 7

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,895
-

Other creditors
507,086
507,086

Accruals
4,752
4,200

513,733
511,286



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
157,067


Bank loans are secured against the investment property.


10.


Deferred taxation




2023
2022


£

£






At beginning of year
4,604
(13,636)


Charged to profit or loss
(4,604)
18,240



At end of year
-
4,604

The deferred tax asset is made up as follows:

2023
2022
£
£


Unrealised gain on investment property
-
(15,442)

Tax losses carried forward
-
20,046

-
4,604

Page 8

 
FRASER DESIGNED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents non-distributable reserves arsing from the unrealised fair value adjustments of the investment property, less provisions for future tax liabilities.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.


13.


Related party transactions

During the year the company operated a loan account with the director. The balance due to him at the year end was £398,150 (2022 - £398,150). The loan is interest free and repayable on demand.
The amount due to a company related by common directors at the year end was £108,936 (2022 -  £108,936). The loan is interest free and repayable on demand.

Page 9