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Registered number: 08313126
Fry Enterprises Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
HTS Accounts Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08313126
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,272 1,966
2,272 1,966
CURRENT ASSETS
Debtors 6 613,756 658,382
Cash at bank and in hand 4,526 17,189
618,282 675,571
Creditors: Amounts Falling Due Within One Year 7 (202,843 ) (247,530 )
NET CURRENT ASSETS (LIABILITIES) 415,439 428,041
TOTAL ASSETS LESS CURRENT LIABILITIES 417,711 430,007
NET ASSETS 417,711 430,007
CAPITAL AND RESERVES
Called up share capital 8 104 104
Profit and Loss Account 417,607 429,903
SHAREHOLDERS' FUNDS 417,711 430,007
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Fry
Director
11/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fry Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08313126 . The registered office is 52 Bracken Road, Ferndown, Dorset, BH22 9PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 29,500
As at 31 March 2024 29,500
Amortisation
As at 1 April 2023 29,500
As at 31 March 2024 29,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 9,202
Additions 1,713
As at 31 March 2024 10,915
Depreciation
As at 1 April 2023 7,236
Provided during the period 1,407
As at 31 March 2024 8,643
Net Book Value
As at 31 March 2024 2,272
As at 1 April 2023 1,966
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 463,264 488,072
Prepayments and accrued income 353 386
Other debtors 33,661 48,845
Deposits 1,260 1,260
Corporation tax recoverable assets 2,208 -
Deferred tax current asset - 374
Director's loan account 65,655 42,490
Amounts owed by associates 47,355 76,955
613,756 658,382
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 123,050 143,146
Corporation tax 35,239 52,052
Other taxes and social security 2,787 3,404
VAT 9,822 15,864
Other creditors 30,274 30,633
Accruals and deferred income 1,671 2,431
202,843 247,530
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 104 104
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Mark Fry 42,490 65,655 (42,490 ) - 65,655
The above loan is unsecured and repayable on demand.
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