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REGISTERED NUMBER: 02089987 (England and Wales)















FRANCIS FINANCE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






FRANCIS FINANCE LIMITED (REGISTERED NUMBER: 02089987)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


FRANCIS FINANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr G.R. Belton
Mrs. L.F. Belton



SECRETARY: Mr G.R. Belton



REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



REGISTERED NUMBER: 02089987 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: Lloyds TSB Bank plc
112 High Street
Bromsgrove
Worcestershire
B61 8EZ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FRANCIS FINANCE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Francis Finance Limited for the year ended 31 January 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Francis Finance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Francis Finance Limited and state those matters that we have agreed to state to the Board of Directors of Francis Finance Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Francis Finance Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Francis Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Francis Finance Limited. You consider that Francis Finance Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Francis Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


16 October 2024

FRANCIS FINANCE LIMITED (REGISTERED NUMBER: 02089987)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,743 15,948

CURRENT ASSETS
Debtors 5 48,019 28,283

CREDITORS
Amounts falling due within one year 6 41,513 38,743
NET CURRENT ASSETS/(LIABILITIES) 6,506 (10,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,249

5,488

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 8,241 5,480
SHAREHOLDERS' FUNDS 8,249 5,488

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 16 October 2024 and were signed on its behalf by:



Mr G.R. Belton - Director


FRANCIS FINANCE LIMITED (REGISTERED NUMBER: 02089987)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Francis Finance Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 24,250 32,302 319 56,871
Disposals - (32,302 ) - (32,302 )
At 31 January 2024 24,250 - 319 24,569
DEPRECIATION
At 1 February 2023 21,983 18,675 265 40,923
Charge for year 567 - 11 578
Eliminated on disposal - (18,675 ) - (18,675 )
At 31 January 2024 22,550 - 276 22,826
NET BOOK VALUE
At 31 January 2024 1,700 - 43 1,743
At 31 January 2023 2,267 13,627 54 15,948

FRANCIS FINANCE LIMITED (REGISTERED NUMBER: 02089987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2023 32,302
Disposals (32,302 )
At 31 January 2024 -
DEPRECIATION
At 1 February 2023 18,675
Eliminated on disposal (18,675 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 13,627

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 48,019 28,283

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 941 5,796
Hire purchase contracts - 2,042
Taxation and social security 4,379 3,697
Other creditors 36,193 27,208
41,513 38,743

FRANCIS FINANCE LIMITED (REGISTERED NUMBER: 02089987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr G.R. Belton
Balance outstanding at start of year 26,921 23,083
Amounts advanced 44,663 8,956
Amounts repaid (24,505 ) (5,118 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,079 26,921