Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3102023-04-01falseNo description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01411007 2023-04-01 2024-03-31 01411007 2022-04-01 2023-03-31 01411007 2024-03-31 01411007 2023-03-31 01411007 c:Director1 2023-04-01 2024-03-31 01411007 d:FreeholdInvestmentProperty 2024-03-31 01411007 d:FreeholdInvestmentProperty 2023-03-31 01411007 d:CurrentFinancialInstruments 2024-03-31 01411007 d:CurrentFinancialInstruments 2023-03-31 01411007 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01411007 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01411007 d:ShareCapital 2024-03-31 01411007 d:ShareCapital 2023-03-31 01411007 d:InvestmentPropertiesRevaluationReserve 2023-04-01 2024-03-31 01411007 d:InvestmentPropertiesRevaluationReserve 2024-03-31 01411007 d:InvestmentPropertiesRevaluationReserve 2023-03-31 01411007 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01411007 d:RetainedEarningsAccumulatedLosses 2024-03-31 01411007 d:RetainedEarningsAccumulatedLosses 2023-03-31 01411007 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01411007 c:OrdinaryShareClass1 2024-03-31 01411007 c:OrdinaryShareClass1 2023-03-31 01411007 c:FRS102 2023-04-01 2024-03-31 01411007 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01411007 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01411007 c:AbridgedAccounts 2023-04-01 2024-03-31 01411007 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01411007 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01411007 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01411007










ROY FRANK PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ROY FRANK PROPERTIES LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 9


 
ROY FRANK PROPERTIES LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ROY FRANK PROPERTIES LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Roy Frank Properties Limited for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Roy Frank Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Roy Frank Properties Limited  and state those matters that we have agreed to state to the Board of directors of Roy Frank Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Roy Frank Properties Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Roy Frank Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Roy Frank Properties Limited. You consider that Roy Frank Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Roy Frank Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  
BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
16 August 2024
Page 1

 
ROY FRANK PROPERTIES LIMITED
REGISTERED NUMBER: 01411007

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Investment property
 3 
820,000
820,000

  
820,000
820,000

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 4 
3,875
5,226

Cash at bank and in hand
 5 
22,851
5,501

  
26,726
10,727

Creditors: amounts falling due within one year
 6 
(11,604)
(5,158)

NET CURRENT ASSETS
  
 
 
15,122
 
 
5,569

TOTAL ASSETS LESS CURRENT LIABILITIES
  
835,122
825,569

PROVISIONS FOR LIABILITIES
  

Deferred tax
 7 
(129,006)
(129,006)

  
 
 
(129,006)
 
 
(129,006)

NET ASSETS
  
706,116
696,563

CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Investment property reserve
 9 
549,974
549,974

Profit and loss account
 9 
156,043
146,490

  
706,117
696,564


Page 2

 
ROY FRANK PROPERTIES LIMITED
REGISTERED NUMBER: 01411007

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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

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 on 16 August 2024.





E F SHAPIRO
Director

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

Page 3

 
ROY FRANK PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES

 
1.1

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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.

 
1.2

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.

Page 4

 
ROY FRANK PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.3

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.

 
1.4

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.

 
1.5

DEBTORS

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

 
1.6

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.7

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 5

 
ROY FRANK PROPERTIES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.8

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.

 
1.9

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.


2.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)
Page 6

 
ROY FRANK PROPERTIES LIMITED
 

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

3.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 April 2023
820,000



AT 31 MARCH 2024
820,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

REVALUATION RESERVES


At 1 April 2023
549,974
549,974

AT 31 MARCH 2024
549,974
549,974




4.


DEBTORS

2024
2023
£
£


Other debtors
-
1,351

Prepayments and accrued income
3,875
3,875

3,875
5,226



5.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
22,851
5,501


Page 7

 
ROY FRANK PROPERTIES LIMITED
 

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

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Corporation tax
7,558
3,509

Other creditors
2,397
-

Accruals and deferred income
1,649
1,649

11,604
5,158



7.


DEFERRED TAXATION




2024


£






At beginning of year
(129,006)



AT END OF YEAR
(129,006)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Deferred tax brought forward
(129,006)
(129,006)

(129,006)
(129,006)


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 8

 
ROY FRANK PROPERTIES LIMITED
 

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

9.


RESERVES

Investment property revaluation reserve

Investment properties are carried at fair value with changes at each reporting date recognised in profit or loss. The revaluation reserve is a non distributable reserve to reflect the unrealised gains over and above the cost of of investment properties.

Profit & loss account

This includes all current and prior period retained profits and losses. 


Page 9