Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-301false2023-05-011truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00753564 2023-05-01 2024-04-30 00753564 2022-05-01 2023-04-30 00753564 2024-04-30 00753564 2023-04-30 00753564 2022-05-01 00753564 c:Director1 2023-05-01 2024-04-30 00753564 d:FurnitureFittings 2023-05-01 2024-04-30 00753564 d:FurnitureFittings 2024-04-30 00753564 d:FurnitureFittings 2023-04-30 00753564 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00753564 d:FreeholdInvestmentProperty 2024-04-30 00753564 d:FreeholdInvestmentProperty 2023-04-30 00753564 d:CurrentFinancialInstruments 2024-04-30 00753564 d:CurrentFinancialInstruments 2023-04-30 00753564 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 00753564 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00753564 d:ShareCapital 2024-04-30 00753564 d:ShareCapital 2023-04-30 00753564 d:ShareCapital 2022-05-01 00753564 d:OtherMiscellaneousReserve 2023-05-01 2024-04-30 00753564 d:OtherMiscellaneousReserve 2024-04-30 00753564 d:OtherMiscellaneousReserve 2022-05-01 2023-04-30 00753564 d:OtherMiscellaneousReserve 2023-04-30 00753564 d:OtherMiscellaneousReserve 2022-05-01 00753564 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2024-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2023-04-30 00753564 d:RetainedEarningsAccumulatedLosses 2022-05-01 00753564 c:FRS102 2023-05-01 2024-04-30 00753564 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00753564 c:FullAccounts 2023-05-01 2024-04-30 00753564 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00753564 2 2023-05-01 2024-04-30 00753564 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 00753564










FRATURN SERVICES








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
FRATURN SERVICES
REGISTERED NUMBER: 00753564

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
244
325

Investment property
 5 
800,000
800,000

  
800,244
800,325

Current assets
  

Debtors: amounts falling due within one year
  
151,499
100,000

Cash at bank and in hand
  
4,975
52,818

  
156,474
152,818

Creditors: amounts falling due within one year
 7 
(19,707)
(18,901)

Net current assets
  
 
 
136,767
 
 
133,917

Total assets less current liabilities
  
937,011
934,242

Provisions for liabilities
  

Deferred tax
  
(94,913)
(94,913)

  
 
 
(94,913)
 
 
(94,913)

Net assets
  
842,098
839,329


Capital and reserves
  

Called up share capital 
  
12,408
12,408

Other reserves
 8 
685,088
685,088

Profit and loss account
 8 
144,602
141,833

  
842,098
839,329

Page 1

 
FRATURN SERVICES
REGISTERED NUMBER: 00753564
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 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: 




Mr Nicholas William Turner
Director
Date: 12 August 2024

The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
FRATURN SERVICES
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 May 2022
12,408
707,867
149,616
869,891



Loss for the year
-
-
(1,562)
(1,562)

Dividends: Equity capital
-
-
(29,000)
(29,000)

Transfer to/from profit and loss account
-
(22,779)
22,779
-



At 1 May 2023
12,408
685,088
141,833
839,329



Profit for the year
-
-
25,269
25,269

Dividends: Equity capital
-
-
(22,500)
(22,500)


At 30 April 2024
12,408
685,088
144,602
842,098


The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Fraturn Services (00753564) is a private unlimited company registered in England and Wales. The
registered office is The Wallet, 2 Second Avenue, Frinton On Sea, Essex, CO13 9ER.

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 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:
Revenue represents rents receivable recognised in the period in which the services are being
provided in accordance with the rental agreement. Rent receivable is invoiced quarterly in advance of
the quarter for which the rental income relates.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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 4

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing balance

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.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.7

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.

 
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.

Page 5

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
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 in the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are
Page 6

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

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 1 (2023 - 1).

Page 7

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 May 2023
4,607



At 30 April 2024

4,607



Depreciation


At 1 May 2023
4,282


Charge for the year on owned assets
81



At 30 April 2024

4,363



Net book value



At 30 April 2024
244



At 30 April 2023
326


5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
800,000



At 30 April 2024
800,000

The 2024 valuations were made by the director.





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

2024
2023
£
£


Historic cost
20,000
20,000

Page 8

 
FRATURN SERVICES
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Other debtors
151,499
100,000



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,947
5,038

Other creditors
6,348
5,849

Accruals and deferred income
7,412
8,014

19,707
18,901



8.


Reserves

Other reserves

The other reserves comprise the revaluations relating to the investment property net of deferred tax on the
gain. This reserve is non distributable.

Profit and loss account

The profit and loss account comprise the balance of the profits accumulated over the life of the company.
This reserve is distributable.


9.


Related party transactions

Included within other creditors due within one year is an amount due to shareholders of £5,946 (2023 - £5,713).
Included within other creditors due within one year is an interest free loan to the value of £355 (2023 - £130) owed to the director. This is repayable on demand.

 
Page 9