1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,346 1,230 116 1,346 116 xbrli:pure xbrli:shares iso4217:GBP 11441029 2023-07-01 2024-06-30 11441029 2024-06-30 11441029 2023-06-30 11441029 2022-07-01 2023-06-30 11441029 2023-06-30 11441029 2022-06-30 11441029 bus:Director1 2023-07-01 2024-06-30 11441029 core:AfterOneYear 2024-06-30 11441029 core:AfterOneYear 2023-06-30 11441029 core:WithinOneYear 2024-06-30 11441029 core:WithinOneYear 2023-06-30 11441029 core:ShareCapital 2024-06-30 11441029 core:ShareCapital 2023-06-30 11441029 core:RetainedEarningsAccumulatedLosses 2024-06-30 11441029 core:RetainedEarningsAccumulatedLosses 2023-06-30 11441029 bus:Director1 2023-06-30 11441029 bus:Director1 2022-06-30 11441029 bus:SmallEntities 2023-07-01 2024-06-30 11441029 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 11441029 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11441029 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11441029 bus:FullAccounts 2023-07-01 2024-06-30 11441029 core:ComputerEquipment 2023-07-01 2024-06-30 11441029 core:ComputerEquipment 2024-06-30 11441029 core:ComputerEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 11441029
Bradley Franks Limited
Filleted Unaudited Financial Statements
30 June 2024
Bradley Franks Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
116
Current assets
Debtors
6
347
2,421
Cash at bank and in hand
9,451
8,898
-------
--------
9,798
11,319
Creditors: amounts falling due within one year
7
2,835
986
-------
--------
Net current assets
6,963
10,333
-------
--------
Total assets less current liabilities
6,963
10,449
Creditors: amounts falling due after more than one year
8
4,277
6,302
-------
--------
Net assets
2,686
4,147
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,586
4,047
-------
-------
Shareholder funds
2,686
4,147
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Bradley Franks Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mr B Franks
Director
Company registration number: 11441029
Bradley Franks Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Bullbridge View, Worsley, M28 3YB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Changes in formats
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds.
In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
Changes in accounting estimates
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds. In the transition to section 1A of FRS from old UK GAAP, the Company has made no measurement and recognition adjustments.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 July 2023 and 30 June 2024
1,346
-------
Depreciation
At 1 July 2023
1,230
Charge for the year
116
-------
At 30 June 2024
1,346
-------
Carrying amount
At 30 June 2024
-------
At 30 June 2023
116
-------
6. Debtors
2024
2023
£
£
Other debtors
347
2,421
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,562
Corporation tax
1,273
986
-------
----
2,835
986
-------
----
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,179
6,302
Other creditors
98
-------
-------
4,277
6,302
-------
-------
9. Financial instruments
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions: (a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and (b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments. To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares.
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr B Franks
( 98)
1,951
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-------