Company registration number 04136585 (England and Wales)
FTF GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
FTF GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FTF GROUP LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
4,002
4,002
Current assets
Debtors
5
4
4
Cash at bank and in hand
7
7
Net current assets
11
11
Net assets
4,013
4,013
Capital and reserves
Called up share capital
6
3,996
3,996
Profit and loss reserves
17
17
Total equity
4,013
4,013

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

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 18 September 2024
M A Ainley
Director
Company registration number 04136585 (England and Wales)
FTF GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

FTF Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Park Row, Nottingham, NG1 6GR.

1.1
Accounting convention
The financial statements are prepared under the historical cost convention.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

FTF GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Share capital issued by the company are recorded as the proceeds received, net of transaction costs. Dividends payable on share capital are recorded as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
36
37
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
4,002
4,002
4
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Frenger Systems (UK) Limited
England
Dormant company
Ordinary
100.00
Frenger Systems Limited
England
Heating & cooling systems
Ordinary
100.00
FTF GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Subsidiaries
(Continued)
- 4 -

 

The FTF Group Limited owns 100% of the share capital (£250,000 share capital) in Frenger Systems Limited (company number 03064483) which has a net assets value of £8,334,614 as at the year ending 31 December 2023 unaudited accounts and which continues to generate profit and increase in net book value.

 

The net assets value of Frenger Systems Limited consist of intangible fixed assets of £68,770 and tangible fixed assets of £1,532,696, stock of £826,903, debtors of £340,367, cash at bank and in hand of £6,343,225, creditors falling due within one year of £456,241 and deferred tax liability of £321,106.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
4
4
FTF GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,990
3,990
3,990
3,990
Ordinary B shares of £1 each
1
1
1
1
Ordinary C shares of £1 each
1
1
1
1
Ordinary E shares of £1 each
1
1
1
1
Ordinary F shares of £1 each
1
1
1
1
Ordinary G shares of £1 each
1
1
1
1
3,995
3,995
3,995
3,995
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Ordinary D shares of £1 each
1
1
1
1

Ordinary B, C, D, E, F & G shares have no voting rights and rank below the ordinary shares in the event of the winding up of the company.

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