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REGISTERED NUMBER: SC072939 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Fruin Motors (Holdings) Limited

Fruin Motors (Holdings) Limited (Registered number: SC072939)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fruin Motors (Holdings) Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: R Prow
J Niven
P A McAllister
A J McKinlay Niven





REGISTERED OFFICE: 2 Albert Street
Helensburgh
G84 7SG





REGISTERED NUMBER: SC072939 (Scotland)





ACCOUNTANTS: KPP Glasgow South Ltd
Chartered Certified Accountants
Unit 3 , 37 Rosyth Road
Morris Park
Glasgow
G5 0YE

Fruin Motors (Holdings) Limited (Registered number: SC072939)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 81,729 81,729
Investment property 5 588,649 588,649
670,378 670,378

CURRENT ASSETS
Debtors 6 737,729 737,729
Cash at bank 274,199 284,992
1,011,928 1,022,721
CREDITORS
Amounts falling due within one year 7 362,722 387,628
NET CURRENT ASSETS 649,206 635,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,319,584

1,305,471

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Revaluation reserve 10 127,955 127,955
Retained earnings 1,091,629 1,077,516
SHAREHOLDERS' FUNDS 1,319,584 1,305,471

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

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

The directors acknowledge their 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.

Fruin Motors (Holdings) Limited (Registered number: SC072939)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by:





R Prow - Director


Fruin Motors (Holdings) Limited (Registered number: SC072939)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Fruin Motors (Holdings) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Preparation of consolidated financial statements
The financial statements contain information about Fruin Motor (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group.The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Investment property
Investment property is shown as the most recent valuation.Any aggregate surplus or deficit arising from changes in the market value is transferred to a revaluation reserve.

No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).Such properties are held for their investment potential and not for consumption within the business.This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view.Investment properties are stated at their market value at the balance sheet date.

Investments
Investments are included at cost less amounts written off.profits or losses arising from disposals of fixed assets investments are treated as part of the result from ordinary activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS

31.10.23 31.10.22
£    £   
Shares in group undertakings 75,000 75,000
Other investments not loans 6,729 6,729
81,729 81,729

Fruin Motors (Holdings) Limited (Registered number: SC072939)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 75,000
NET BOOK VALUE
At 31 October 2023 75,000
At 31 October 2022 75,000

Investments (neither listed nor unlisted) were as follows:
31.10.23 31.10.22
£    £   
Other investments not loans 6,729 6,729

The cost of shares in group undertakings includes £75,000 in respect of the shares held in Alexander Rankine Limited.The investment property owned by Alexander Rankine Limited is included in the Balance Sheet of that company at market value.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 588,649
NET BOOK VALUE
At 31 October 2023 588,649
At 31 October 2022 588,649

The directors have confirmed that as at 31st October 2016,there has been no change to the value of the investment property.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2011 127,955
Valuation in 2014 430,694
Valuation in 2018 30,000
588,649

Fruin Motors (Holdings) Limited (Registered number: SC072939)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 550,408 550,408
Aggregate depreciation (119,714 ) (119,714 )

Investment properties were valued on an open market basis on 14 June 2011 by Allied Scotland,Chartered Surveyors .

6. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Sundry debtors 11,756 11,756
Directors loan account-R.Prow 25,099 25,099
Directors loan account-J.Niven 5,752 5,752
Loan due from related party 688,337 688,337
Prepayments and accrued income 209 209
731,153 731,153

Amounts falling due after more than one year:
Tax 6,576 6,576

Aggregate amounts 737,729 737,729

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other creditors 2,183 2,183
Associated company - Alexander Rankine
Ltd

289,103

229,103
RM Prow Motors-Pension Scheme (112,095 ) (43,206 )
Tax 3,596 3,596
Social security and other taxes 54,255 74,255
VAT 100,560 97,898
Accruals & deferred income 25,120 23,799
362,722 387,628

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   

Fruin Motors (Holdings) Limited (Registered number: SC072939)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100,000 Ordinary £1 100,000 100,000

The company is under the control of the directors who own 76% of the issued share capital.

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 127,955

11. RELATED PARTY DISCLOSURES

Alexander Rankine Limited
Subsidiary company.

As at 31st October 2023,the inter-company loan amount due to the related company was as follows :

2023 2022
£(289,103) £(229,103)



Proven Properties (Scotland) Limited
A company in which the directors are shareholders.

As at 31st October 2023,the inter-company loan amount due from the associated company was as follows :

2023 2022
£688,337 £688,337