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Moses Frank Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Registration number: 07368224

 

Moses Frank Limited

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Moses Frank Limited

(Registration number: 07368224)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,731

7,641

Current assets

 

Debtors

5

2,971

5,436

Cash at bank and in hand

 

27,644

50,383

 

30,615

55,819

Creditors: Amounts falling due within one year

6

(3,425)

(10,645)

Net current assets

 

27,190

45,174

Total assets less current liabilities

 

32,921

52,815

Provisions for liabilities

(1,089)

(1,452)

Net assets

 

31,832

51,363

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

31,732

51,263

Shareholders' funds

 

31,832

51,363

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Moses Frank Limited

(Registration number: 07368224)
Statement of financial position as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 7 October 2024 and signed on its behalf by:
 

.........................................

Mr PDD Haines
Director

 

Moses Frank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the Board on 7 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Moses Frank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% Reducing balance

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Moses Frank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

26,346

26,346

At 31 March 2024

26,346

26,346

Depreciation

At 1 April 2023

18,705

18,705

Charge for the year

1,910

1,910

At 31 March 2024

20,615

20,615

Carrying amount

At 31 March 2024

5,731

5,731

At 31 March 2023

7,641

7,641

 

Moses Frank Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

343

98

Other debtors

 

521

472

Accrued income

 

-

4,866

Income tax asset

2,107

-

 

2,971

5,436

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,678

9,151

Accruals and deferred income

1,450

1,400

Other creditors

297

94

3,425

10,645

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100