Company registration number 11193470 (England and Wales)
RETRO FRANK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
RETRO FRANK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RETRO FRANK LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,878
2,775
Current assets
Stocks
12,750
13,500
Debtors
4
512
177
Cash at bank and in hand
903
272
14,165
13,949
Creditors: amounts falling due within one year
5
(4,863)
(4,599)
Net current assets
9,302
9,350
Total assets less current liabilities
11,180
12,125
Creditors: amounts falling due after more than one year
6
(10,056)
(10,398)
Net assets
1,124
1,727
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
1,123
1,726
Total equity
1,124
1,727

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

For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 26 September 2024
Mr A M Houghton
Director
Company registration number 11193470 (England and Wales)
RETRO FRANK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

Retro Frank Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

1.2
Going concern

The company is reliant upon truebank finance. The financial statements have been prepared on a going concern basis on the assumption that this finance will continue to be made available to the company. The director has no reason to believe that such financial support will not continue for the foreseeable future.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Straight line
Computer Equipment
20% Straight line
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
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.

RETRO FRANK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 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 and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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

Basic financial liabilities

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

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2023
2022
Number
Number
Total
1
1
RETRO FRANK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 and 31 August 2023
4,482
Depreciation and impairment
At 1 September 2022
1,707
Depreciation charged in the year
897
At 31 August 2023
2,604
Carrying amount
At 31 August 2023
1,878
At 31 August 2022
2,775
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
512
177

Other debtors represents an interest-free loan to the director.

 

5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,100
3,100
Other creditors
1,763
1,499
4,863
4,599
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
10,056
10,398
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
2023-08-312022-09-01false26 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr A M Houghtonfalsefalse111934702022-09-012023-08-31111934702023-08-31111934702022-08-3111193470core:OtherPropertyPlantEquipment2023-08-3111193470core:OtherPropertyPlantEquipment2022-08-3111193470core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3111193470core:CurrentFinancialInstrumentscore:WithinOneYear2022-08-3111193470core:Non-currentFinancialInstrumentscore:AfterOneYear2023-08-3111193470core:Non-currentFinancialInstrumentscore:AfterOneYear2022-08-3111193470core:CurrentFinancialInstruments2023-08-3111193470core:CurrentFinancialInstruments2022-08-3111193470core:ShareCapital2023-08-3111193470core:ShareCapital2022-08-3111193470core:RetainedEarningsAccumulatedLosses2023-08-3111193470core:RetainedEarningsAccumulatedLosses2022-08-3111193470bus:Director12022-09-012023-08-3111193470core:FurnitureFittings2022-09-012023-08-3111193470core:ComputerEquipment2022-09-012023-08-31111934702021-09-012022-08-3111193470core:OtherPropertyPlantEquipment2022-08-3111193470core:OtherPropertyPlantEquipment2022-09-012023-08-3111193470core:WithinOneYear2023-08-3111193470core:WithinOneYear2022-08-3111193470core:Non-currentFinancialInstruments2023-08-3111193470core:Non-currentFinancialInstruments2022-08-3111193470bus:PrivateLimitedCompanyLtd2022-09-012023-08-3111193470bus:SmallCompaniesRegimeForAccounts2022-09-012023-08-3111193470bus:FRS1022022-09-012023-08-3111193470bus:AuditExemptWithAccountantsReport2022-09-012023-08-3111193470bus:FullAccounts2022-09-012023-08-31xbrli:purexbrli:sharesiso4217:GBP