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Registered number: 4965241
Fromoco Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Branagans Accountancy Services Ltd
352 Herringthorpe Valley Rd
Rotherham
S60 4LA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 4965241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,638 5,471
5,638 5,471
CURRENT ASSETS
Stocks 5 165 165
Debtors 6 14,983 -
Cash at bank and in hand 16,119 28,075
31,267 28,240
Creditors: Amounts Falling Due Within One Year 7 (13,228 ) (33,267 )
NET CURRENT ASSETS (LIABILITIES) 18,039 (5,027 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,677 444
Creditors: Amounts Falling Due After More Than One Year 8 (23,649 ) -
NET ASSETS 28 444
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account 18 434
SHAREHOLDERS' FUNDS 28 444
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Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Catherine Hammond
Director
25/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fromoco Limited Registered number 4965241 is a limited by shares company incorporated in England & Wales. The Registered Office is 10 Olivers Way, Catcliffe, Rotherham, S60 5UD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 8 8
8 8
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 16,214 14,699 790 31,703
Additions - 1,249 - 1,249
As at 30 April 2024 16,214 15,948 790 32,952
Depreciation
As at 1 May 2023 15,487 10,299 446 26,232
Provided during the period 182 848 52 1,082
As at 30 April 2024 15,669 11,147 498 27,314
Net Book Value
As at 30 April 2024 545 4,801 292 5,638
As at 1 May 2023 727 4,400 344 5,471
5. Stocks
2024 2023
£ £
Stock 165 165
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,140 -
Prepayments and accrued income 1,579 -
Corporation tax recoverable assets 2,801 -
VAT 163 -
Amounts owed by associates 8,300 -
14,983 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 373 -
Bank loans and overdrafts 4,641 32,426
Corporation tax 3,135 -
Other taxes and social security 56 -
Other creditors 3,770 -
Accruals and deferred income 1,172 684
Director's loan account 81 157
13,228 33,267
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,649 -
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
10. Ultimate Controlling Party
The company's ultimate controlling party is Catherine Hammond by virtue of his ownership of 100% of the issued share capital in the company.
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