Company registration number 09926926 (England and Wales)
FRASER AND WHEELER (EXETER) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FRASER AND WHEELER (EXETER) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
FRASER AND WHEELER (EXETER) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,331
720
Current assets
Debtors
4
35,440
66,889
Cash at bank and in hand
179,802
221,612
215,242
288,501
Creditors: amounts falling due within one year
5
(93,254)
(67,706)
Net current assets
121,988
220,795
Net assets
123,319
221,515
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
123,219
221,415
Total equity
123,319
221,515

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 1 May 2024 and are signed on its behalf by:
Mr B I Fraser
Director
Company registration number 09926926 (England and Wales)
FRASER AND WHEELER (EXETER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Fraser and Wheeler (Exeter) Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT. Estate agent fees are invoiced and thereby recognised on exchange of contracts, however only becoming due on completion.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Straight line over 5 years
Fixtures and fittings
Straight line over 4 years
Computers
Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

 

FRASER AND WHEELER (EXETER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees

All staff are employed by the parent company of the group.

3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023
3,765
25,668
29,433
Additions
-
0
1,123
1,123
At 31 December 2023
3,765
26,791
30,556
Depreciation and impairment
At 1 January 2023
3,765
24,948
28,713
Depreciation charged in the year
-
0
512
512
At 31 December 2023
3,765
25,460
29,225
Carrying amount
At 31 December 2023
-
0
1,331
1,331
At 31 December 2022
-
0
720
720
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
32,023
17,272
Amounts owed by group undertakings
-
0
48,476
Other debtors
3,417
1,141
35,440
66,889
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,218
5,212
Amounts owed to group undertakings
25,034
-
0
Taxation and social security
40,242
62,494
Other creditors
22,760
-
0
93,254
67,706
FRASER AND WHEELER (EXETER) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
9,333
12,000
Between two and five years
-
0
8,000
9,333
20,000
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