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Registered number: 02479836
















FRAMPTON HOLDINGS LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2024


































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FRAMPTON HOLDINGS LIMITED
REGISTERED NUMBER:02479836

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

30 April
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
586,451
603,143

  
586,451
603,143

Current assets
  

Debtors: amounts falling due within one year
 5 
305,816
305,502

Cash at bank and in hand
 6 
3,118
543

  
308,934
306,045

Creditors: amounts falling due within one year
 7 
(4,620)
(13,595)

Net current assets
  
 
 
304,314
 
 
292,450

Total assets less current liabilities
  
890,765
895,593

  

Net assets
  
890,765
895,593


Capital and reserves
  

Called up share capital 
 8 
100,000
100,000

Revaluation reserve
 9 
89,070
92,020

Capital redemption reserve
 9 
54,800
54,800

Profit and loss account
 9 
646,895
648,773

  
890,765
895,593


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





A Rimell
Director

Date: 19 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 1


FRAMPTON HOLDINGS LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 APRIL 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 July 2022
100,000
54,800
95,560
676,054
926,414


Comprehensive income for the year

Loss for the year
-
-
-
(30,821)
(30,821)

Transfer between reserves
-
-
(3,540)
3,540
-


Total transactions with owners
-
-
(3,540)
3,540
-



At 1 July 2023
100,000
54,800
92,020
648,773
895,593


Comprehensive income for the period

Loss for the period
-
-
-
(4,828)
(4,828)

Transfer between reserves
-
-
(2,950)
2,950
-


At 30 April 2024
100,000
54,800
89,070
646,895
890,765


The notes on pages 3 to 10 form part of these financial statements.

Page 2


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Frampton Holdings Limited is a private limited company incorporated in England and Wales. The address of the registered office is 76 Charlton Road, Shepton Mallet, Somerset, BA4 5PD. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Framptons Group Holdings Limited as at 30 April 2024 and these financial statements may be obtained from Companies House.

 
2.3

GOING CONCERN

The Directors assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company, and the group it is a member of, headed by Profuragruppen AB, to continue as a going concern. The Directors make this assessment in respect of a period of 12 months from the date of approval of the financial statements. 
Framptons is reliant on support from an intermediate holding company of its new owner, Provator AB, to enable it to continue as a going concern. Framptons has received a letter of support from its owner and the Directors have concluded that this support, and the resources available to Provator AB, provide sufficient support to enable the company to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. 
The directors believe that, taken as a whole, the factors described above enable the Group and the Company to continue as a going concern for the foreseeable future.

Page 3


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years
Long-term leasehold property
-
50 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.8

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying
Page 5


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)


2.10
FINANCIAL INSTRUMENTS (CONTINUED)

amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 0 (2023: 0)

Page 6


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

4.


TANGIBLE FIXED ASSETS







Freehold property
Long-term leasehold property
Total

£
£
£



COST OR VALUATION


At 1 July 2023
848,000
153,527
1,001,527



At 30 April 2024

848,000
153,527
1,001,527



DEPRECIATION


At 1 July 2023
350,521
47,863
398,384


Charge for the period on owned assets
14,134
2,558
16,692



At 30 April 2024

364,655
50,421
415,076



NET BOOK VALUE



At 30 April 2024
483,345
103,106
586,451



At 30 June 2023
497,479
105,664
603,143

Freehold property with a historical cost of £528,000 was revalued upwards to £848,000 on a market value basis in June 1990 by an independent chartered surveyor. The company took advantage of the transitional provisions of FRS 102 concerning the revaluation of the property. As a result, the valuations have not been updated and the revalued amount has been treated as deemed cost.

Cost or valuation at 30 April 2024 is as follows:

Land and buildings
£


AT COST
153,527
AT VALUATION:

June 1990 market value basis
848,000



1,001,527

Page 7


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

           4.TANGIBLE FIXED ASSETS (CONTINUED)

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

30 April
30 June
2024
2023
£
£



Cost
681,527
681,527

Accumulated depreciation
(210,151)
(193,191)

NET BOOK VALUE
471,376
488,336


5.


DEBTORS

30 April
30 June
2024
2023
£
£


Trade debtors
-
25,000

Amounts owed by group undertakings
292,720
265,550

Prepayments and accrued income
3,721
5,577

Tax recoverable
9,375
9,375

305,816
305,502


Amounts owed by group undertakings are unsecured, due on demand and interest free.


6.


CASH AND CASH EQUIVALENTS

30 April
30 June
2024
2023
£
£

Cash at bank and in hand
3,118
543

3,118
543


Page 8


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30 April
30 June
2024
2023
£
£

Trade creditors
-
6,690

Other taxation and social security
1,045
505

Accruals and deferred income
3,575
6,400

4,620
13,595


Amounts owed by group undertakings are unsecured, due on demand and interest free.


8.


SHARE CAPITAL

30 April
30 June
2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100,000 (2023: 100,000) 'A ' Ordinary shares of £1.00 each
100,000
100,000



9.


RESERVES

Revaluation reserve

The revaluation reserve records the gains on assets following revaluation.

Capital redemption reserve

The capital redemption reserve records the nominal value of shares repurchased by the company.

Profit and loss account

The profit and loss account includes all current and prior period retained profit and losses. All are considered distributable.


10.


RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 33 from the requirement to disclose transactions with group companies. 
At the year end, the company had amounts owed from group undertakings totalling £292,720 (2023: £265,550).
 
Key Management Personnel
There were no key management personnel other than the directors.

Page 9


FRAMPTON HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024

11.


CONTROLLING PARTY

The immediate parent undertaking and parent that prepares consolidated accounts for the smallest group that includes the company is Framptons Group Holdings Limited, a company incorporated in the UK.

The ultimate parent undertaking, and parent that prepares consolidated accounts for the largest group that includes the company is Profuragrupen AB, a company incorporated in Sweden.

The ultimate controlling party is Berndt Ivarsson. 

12.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the period ended 30 April 2024 was unqualified.

The audit report was signed on 24 September 2024 by Ria Burridge FCCA (Senior statutory auditor) on behalf of Bishop Fleming Bath Limited.

 
Page 10