Silverfin false false 31/01/2024 01/02/2023 31/01/2024 J . Trueman 12/02/2020 11 October 2024 The principal activity of the company remains to be that of wholesale and distribution of windows and doors. They also provide consultancy services. 12458188 2024-01-31 12458188 bus:Director1 2024-01-31 12458188 2023-01-31 12458188 core:CurrentFinancialInstruments 2024-01-31 12458188 core:CurrentFinancialInstruments 2023-01-31 12458188 core:ShareCapital 2024-01-31 12458188 core:ShareCapital 2023-01-31 12458188 core:RetainedEarningsAccumulatedLosses 2024-01-31 12458188 core:RetainedEarningsAccumulatedLosses 2023-01-31 12458188 core:ComputerSoftware 2023-01-31 12458188 core:ComputerSoftware 2024-01-31 12458188 bus:OrdinaryShareClass1 2024-01-31 12458188 2023-02-01 2024-01-31 12458188 bus:FilletedAccounts 2023-02-01 2024-01-31 12458188 bus:SmallEntities 2023-02-01 2024-01-31 12458188 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12458188 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12458188 bus:Director1 2023-02-01 2024-01-31 12458188 2022-02-01 2023-01-31 12458188 core:ComputerSoftware 2023-02-01 2024-01-31 12458188 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 12458188 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12458188 (England and Wales)

FRAME LOCKER LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

FRAME LOCKER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

FRAME LOCKER LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
FRAME LOCKER LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
DIRECTOR J . Trueman
REGISTERED OFFICE C/O Pm+M
New Century House Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
United Kingdom
COMPANY NUMBER 12458188 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
FRAME LOCKER LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
FRAME LOCKER LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 104,130 89,520
104,130 89,520
Current assets
Debtors 4 27,337 13,792
Cash at bank and in hand 5 249 2,702
27,586 16,494
Creditors: amounts falling due within one year 6 ( 41,721) ( 164,745)
Net current liabilities (14,135) (148,251)
Total assets less current liabilities 89,995 (58,731)
Provision for liabilities 7 ( 22,474) 0
Net assets/(liabilities) 67,521 ( 58,731)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 67,421 ( 58,831 )
Total shareholder's funds/(deficit) 67,521 ( 58,731)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Frame Locker Limited (registered number: 12458188) were approved and authorised for issue by the Director on 11 October 2024. They were signed on its behalf by:

J . Trueman
Director
FRAME LOCKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
FRAME LOCKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Frame Locker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Pm+M, New Century House Greenbank Technology Park, Challenge Way, Blackburn, BB1 5QB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. The intangible additions are for app development. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software not amortised
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Intangible assets

Computer software Total
£ £
Cost
At 01 February 2023 89,520 89,520
Additions 14,610 14,610
At 31 January 2024 104,130 104,130
Accumulated amortisation
At 01 February 2023 0 0
At 31 January 2024 0 0
Net book value
At 31 January 2024 104,130 104,130
At 31 January 2023 89,520 89,520

No amortisation is currently charged as the assets are still in development.

4. Debtors

2024 2023
£ £
Trade debtors 27,337 0
Other debtors 0 13,792
27,337 13,792

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 249 2,702

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 739 26,822
Amounts owed to director 24,704 136,987
Other taxation and social security 14,744 0
Other creditors 1,534 936
41,721 164,745

7. Provision for liabilities

2024 2023
£ £
Deferred tax 22,474 0

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary Shares shares of £ 1.00 each 100 100