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REGISTERED NUMBER: 09996453 (England and Wales)















FRANCE & ASSOCIATES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANCE & ASSOCIATES LTD

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: Mr J France
Mrs R L France





REGISTERED OFFICE: Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS





REGISTERED NUMBER: 09996453 (England and Wales)





ACCOUNTANTS: SMH Sheards
Chartered Accountants
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 23,612 14,136

CURRENT ASSETS
Debtors 5 186,796 137,029
Cash at bank and in hand 119,688 124,888
306,484 261,917
CREDITORS
Amounts falling due within one year 6 (228,506 ) (204,958 )
NET CURRENT ASSETS 77,978 56,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,590

71,095

CREDITORS
Amounts falling due after more than one year 7 (20,833 ) (30,833 )

PROVISIONS FOR LIABILITIES 10 (5,672 ) (3,483 )
NET ASSETS 75,085 36,779

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 75,083 36,777
75,085 36,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

BALANCE SHEET - continued
29 February 2024


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 14 November 2024 and were signed on its behalf by:





Mr J France - Director


FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024


1. STATUTORY INFORMATION

France & Associates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 shown in the accounts is amounts invoiced during the year plus any work in progress, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on reducing balance

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans, finance leases and accruals, are initially recognised at transaction price.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.

FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 42,518
Additions 16,182
At 29 February 2024 58,700
DEPRECIATION
At 1 March 2023 28,382
Charge for year 6,706
At 29 February 2024 35,088
NET BOOK VALUE
At 29 February 2024 23,612
At 28 February 2023 14,136

FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 162,673 119,391
Other debtors 24,123 17,638
186,796 137,029

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 49,250 18,776
Taxation and social security 107,245 84,338
Other creditors 62,011 91,844
228,506 204,958

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,833 30,833

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,681 7,598
Between one and five years 2,768 5,699
13,449 13,297

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 30,833 40,833

Secured debts represents assistance received under the Bounce Back loan scheme which was granted by the Government.

FRANCE & ASSOCIATES LTD (REGISTERED NUMBER: 09996453)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,672 3,483

Deferred
tax
£   
Balance at 1 March 2023 3,483
Charge to Income Statement during year 2,189
Balance at 29 February 2024 5,672

11. RELATED PARTY DISCLOSURES

Loans owing to the directors on an interest free basis of £56,623 (2023: £90,784) were outstanding at the year end.