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REGISTERED NUMBER: 06737173 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FRANKS & CO (SOUTH) LIMITED

FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANKS & CO (SOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: R B Franks





SECRETARY: D Hartley





REGISTERED OFFICE: 15 Jessops Riverside
Brightside Lane
Sheffield
South Yorkshire
S9 2RX





REGISTERED NUMBER: 06737173 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 74,504 87,095
Tangible assets 5 - 63
74,504 87,158

CURRENT ASSETS
Debtors 6 87 19,663
Cash at bank - 50
87 19,713
CREDITORS
Amounts falling due within one year 7 157,324 152,194
NET CURRENT LIABILITIES (157,237 ) (132,481 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(82,733

)

(45,323

)

CREDITORS
Amounts falling due after more than one
year

8

13,448

19,421
NET LIABILITIES (96,181 ) (64,744 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (97,181 ) (65,744 )
(96,181 ) (64,744 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





R B Franks - Director


FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)

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

1. STATUTORY INFORMATION

Franks & Co (South) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 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.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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

Going concern
The financial statements have been prepared on a going concern basis, on the understanding that the company will continue to receive the support of the director as required.

FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)

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

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 251,819
AMORTISATION
At 1 January 2023 164,724
Charge for year 12,591
At 31 December 2023 177,315
NET BOOK VALUE
At 31 December 2023 74,504
At 31 December 2022 87,095

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 17,288
DEPRECIATION
At 1 January 2023 17,225
Charge for year 63
At 31 December 2023 17,288
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 63

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 19,426
Other debtors 87 237
87 19,663

FRANKS & CO (SOUTH) LIMITED (REGISTERED NUMBER: 06737173)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,971 13,416
Trade creditors 40,638 33,234
Amounts owed to group undertakings 35,548 28,436
Other creditors 75,159 76,159
Accruals and deferred income 8 949
157,324 152,194

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,122 5,971
Bank loans - 2-5 years 7,326 13,450
13,448 19,421

9. RELATED PARTY DISCLOSURES

J Banford
(Director - resigned 30 December 2022)

Included in other creditors is an interest free loan to J Banford which is repayable on demand.

The amount owed to J Banford at the balance sheet date is £75,159 (2022: £76,159).

10. ULTIMATE CONTROLLING PARTY

The ultimate holding company is Franks & Co Limited.

The ultimate controlling party is Dr R B Franks, the majority shareholder in the holding company.