Registered number
12453610
FREHEM LTD
Filleted Accounts
29 February 2024
FREHEM LTD
Registered number: 12453610
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Stocks 36,125 36,125
Debtors 4 3,325 -
Investments held as current assets 5 7,500 7,500
Cash at bank and in hand 8 29
46,958 43,654
Creditors: amounts falling due within one year 7 (13,209) (9,404)
Net current assets 33,749 34,250
Total assets less current liabilities 33,749 34,250
Creditors: amounts falling due after more than one year 8 (43,381) (47,747)
Net liabilities (9,632) (13,497)
Capital and reserves
Called up share capital 100 100
Profit and loss account (9,732) (13,597)
Shareholders' funds (9,632) (13,497)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H. V. JOSHI
Director
Approved by the board on 30 November 2024
FREHEM LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Stock 2024 2023
£ £
Stock as at year end 36,125 36,125
36,125 36,125
4 Debtors 2024 2023
£ £
Other debtors 3,325 -
5 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 7,500 7,500
6 Government grants
Since the outbreak of Covid-19, the Company has been able to utilise the Corona Job Retention scheme (CJRS), the Government's support measure for organisations throughout the pandemic. It offers grants of up to 80% of wages, up to a maximum of £2,500 per month plus national insurance and auto-enrolled pension contributions, to cover the salary costs of those employees that have been furloughed.
The company received government grants of £8,750 (2021: £Nil) under this scheme for the period for all applicable employees.
7 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 1,829
Other creditors 13,209 7,575
13,209 9,404
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 43,381 47,747
The Bank Loan is Bounce Back Loan repayable over six years, with 2.5% interest rate.
9 Other information
FREHEM LTD is a private company limited by shares and incorporated in England. Its registered office is:
C/O Thakur-Chabert Suite 410
1 Harefield Road,
Uxbridge
England
UB8 1EX
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