Registered number
02634156
Frobisher Limited
Filleted Accounts
31 December 2023
Frobisher Limited
Registered number: 02634156
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,847 15,169
Investments 4 2,200 27,200
14,047 42,369
Current assets
Debtors 5 1,261,340 1,348,005
Cash at bank and in hand 114,564 240,216
1,375,904 1,588,221
Creditors: amounts falling due within one year 6 (706,012) (846,720)
Net current assets 669,892 741,501
Net assets 683,939 783,870
Capital and reserves
Called up share capital 100 100
Profit and loss account 683,839 783,770
Shareholders' funds 683,939 783,870
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N T Wolstenholme
Director
Approved by the board on 22 September 2024
Frobisher Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% -25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 - 139,560 139,560
Additions 470 - 470
At 31 December 2023 470 139,560 140,030
Depreciation
At 1 January 2023 - 124,391 124,391
Charge for the year - 3,792 3,792
At 31 December 2023 - 128,183 128,183
Net book value
At 31 December 2023 470 11,377 11,847
At 31 December 2022 - 15,169 15,169
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 27,200
Disposals (25,000)
At 31 December 2023 2,200
5 Debtors 2023 2022
£ £
Trade debtors - 101,917
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,170,243 1,162,673
Other debtors 91,097 83,415
1,261,340 1,348,005
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,952 6,169
Amounts owed to group undertakings and undertakings in which the company has a participating interest 687,764 817,679
Taxation and social security costs 2,107 11,793
Other creditors 12,189 11,079
706,012 846,720
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Loan charged at HMRC official rate 163,085 12,969 (12,971) 163,083
Short term loan 8,132 741 - 8,873
171,217 13,710 (12,971) 171,956
8 Other information
Frobisher Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hoplands Estate
Kings Somborne
Stockbridge
Hampshire
SO20 6QH
Frobisher Limited 02634156 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 N T Wolstenholme No description of principal activity 02634156 2022-01-01 2022-12-31 02634156 core:WithinOneYear 2022-12-31 02634156 core:ShareCapital 2022-12-31 02634156 core:RetainedEarningsAccumulatedLosses 2022-12-31 02634156 2023-01-01 2023-12-31 02634156 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02634156 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02634156 bus:Director40 2023-01-01 2023-12-31 02634156 1 2023-01-01 2023-12-31 02634156 2 2023-01-01 2023-12-31 02634156 core:LandBuildings 2023-01-01 2023-12-31 02634156 core:PlantMachinery 2023-01-01 2023-12-31 02634156 bus:Director1 1 2023-01-01 2023-12-31 02634156 bus:Director2 1 2023-01-01 2023-12-31 02634156 countries:England 2023-01-01 2023-12-31 02634156 bus:FRS102 2023-01-01 2023-12-31 02634156 bus:FilletedAccounts 2023-01-01 2023-12-31 02634156 2023-12-31 02634156 core:WithinOneYear 2023-12-31 02634156 core:ShareCapital 2023-12-31 02634156 core:RetainedEarningsAccumulatedLosses 2023-12-31 02634156 core:LandBuildings 2023-12-31 02634156 core:PlantMachinery 2023-12-31 02634156 core:DisposalsRepaymentsInvestments 2023-12-31 02634156 bus:Director1 1 2023-12-31 02634156 bus:Director2 1 2023-12-31 02634156 2022-12-31 02634156 core:LandBuildings 2022-12-31 02634156 core:PlantMachinery 2022-12-31 02634156 bus:Director1 1 2022-12-31 02634156 bus:Director2 1 2022-12-31 iso4217:GBP xbrli:pure