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REGISTERED NUMBER: 09832349 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

NEIL FRANKS MAINTENANCE SOLUTIONS LTD

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEIL FRANKS MAINTENANCE SOLUTIONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: N G Franks
Mrs L Franks





REGISTERED OFFICE: Greatwell Farmhouse
Greatwell
Chineway Road
Ottery St Mary
Devon
EX11 1PL





REGISTERED NUMBER: 09832349 (England and Wales)





ACCOUNTANTS: Merlin Accountancy Services Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,921 29,901
23,921 29,901

CURRENT ASSETS
Stocks 240 240
Debtors 6 50,066 35,441
Cash at bank 10,145 8,872
60,451 44,553
CREDITORS
Amounts falling due within one year 7 62,456 38,551
NET CURRENT (LIABILITIES)/ASSETS (2,005 ) 6,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,916

35,903

CREDITORS
Amounts falling due after more than
one year

8

(13,425

)

(21,980

)

PROVISIONS FOR LIABILITIES 10 (4,545 ) (5,681 )
NET ASSETS 3,946 8,242

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,846 8,142
SHAREHOLDERS' FUNDS 14 3,946 8,242

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

BALANCE SHEET - continued
30 NOVEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 28 August 2024 and were signed on its behalf by:





N G Franks - Director


NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Neil Franks Maintenance Solutions Ltd 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.

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 2015, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 31,958
AMORTISATION
At 1 December 2022
and 30 November 2023 31,958
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 17,356 40,286 649 58,291
DEPRECIATION
At 1 December 2022 8,078 19,929 383 28,390
Charge for year 1,855 4,072 53 5,980
At 30 November 2023 9,933 24,001 436 34,370
NET BOOK VALUE
At 30 November 2023 7,423 16,285 213 23,921
At 30 November 2022 9,278 20,357 266 29,901

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 39,156
DEPRECIATION
At 1 December 2022 19,169
Charge for year 3,998
At 30 November 2023 23,167
NET BOOK VALUE
At 30 November 2023 15,989
At 30 November 2022 19,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2023 2022
£    £   
Trade debtors 48,466 24,378
Amounts recoverable on contract 1,600 7,000
Other debtors - 4,063
50,066 35,441

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 3,553 4,677
Trade creditors 7,190 1,450
Taxation and social security 28,282 25,851
Other creditors 18,431 1,573
62,456 38,551

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,917 12,917
Hire purchase contracts 5,508 9,063
13,425 21,980

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 9,061 13,740

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 4,545 5,681

Deferred
tax
£   
Balance at 1 December 2022 5,681
Credit to Income Statement during year (1,136 )
Balance at 30 November 2023 4,545

NEIL FRANKS MAINTENANCE SOLUTIONS LTD (REGISTERED NUMBER: 09832349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
N G Franks
Balance outstanding at start of year 4,063 2,556
Amounts advanced - 4,063
Amounts repaid (4,063 ) (2,556 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 4,063

During the year the director had a loan with the company. No interest was charged on this loan. The loan was repaid in full before the end of the year.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £19,608 (2022 - £25,000) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N G Franks.

14. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Profit for the financial year 15,312 27,537
Dividends (19,608 ) (25,000 )
Net (reduction)/addition to shareholders' funds (4,296 ) 2,537
Opening shareholders' funds 8,242 5,705
Closing shareholders' funds 3,946 8,242