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REGISTERED NUMBER: 05927033 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FRANKLINHEARN LIMITED

FRANKLINHEARN LIMITED (REGISTERED NUMBER: 05927033)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FRANKLINHEARN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J M Hearn





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1HU





REGISTERED NUMBER: 05927033 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

FRANKLINHEARN LIMITED (REGISTERED NUMBER: 05927033)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 30,552 33,710

CURRENT ASSETS
Debtors 5 12,275 24,578
Cash at bank 41,168 110,822
53,443 135,400
CREDITORS
Amounts falling due within one year 6 (29,232 ) (53,236 )
NET CURRENT ASSETS 24,211 82,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,763

115,874

CAPITAL AND RESERVES
Called up share capital 7 20 20
Capital redemption reserve 20 20
Retained earnings 54,723 115,834
SHAREHOLDERS' FUNDS 54,763 115,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 October 2024 and were signed by:





J M Hearn - Director


FRANKLINHEARN LIMITED (REGISTERED NUMBER: 05927033)

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

1. STATUTORY INFORMATION

Franklinhearn 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


FRANKLINHEARN LIMITED (REGISTERED NUMBER: 05927033)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 8,314 651 53,990 43,765 106,720
Additions - - - 6,900 6,900
At 31 March 2024 8,314 651 53,990 50,665 113,620
DEPRECIATION
At 1 April 2023 1,896 452 31,213 39,449 73,010
Charge for year 963 30 5,694 3,371 10,058
At 31 March 2024 2,859 482 36,907 42,820 83,068
NET BOOK VALUE
At 31 March 2024 5,455 169 17,083 7,845 30,552
At 31 March 2023 6,418 199 22,777 4,316 33,710

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,062 24,578
Other debtors 1,213 -
12,275 24,578

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 27,407 50,217
Other creditors 1,825 3,019
29,232 53,236

FRANKLINHEARN LIMITED (REGISTERED NUMBER: 05927033)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 2024 2023
Value £ £

2 Ordinary A £1 2 2
7 Ordinary B £1 7 8
9 Ordinary C £1 9 10
2 Ordinary D £1 2 -
20 20

On 31 March 2024 1 Ordinary B share of £1 each and 1 Ordinary C share of £1 each were redesignated as 2 Ordinary D shares of 1 each.

8. ULTIMATE CONTROLLING PARTY

The controlling party is J M Hearn.