18 April 2023 v2024.60.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP148129572023-04-182024-04-30148129572024-04-3014812957core:WithinOneYear2024-04-3014812957core:ShareCapital2024-04-3014812957core:RetainedEarningsAccumulatedLosses2024-04-3014812957bus:Director12023-04-182024-04-3014812957bus:RegisteredOffice2023-04-182024-04-3014812957core:OfficeEquipment2023-04-182024-04-3014812957core:MotorVehicles2023-04-182024-04-3014812957core:PlantMachinery2023-04-182024-04-3014812957core:PlantMachinery2024-04-301481295712023-04-182024-04-301481295712023-04-182024-04-3014812957countries:EnglandWales2023-04-182024-04-3014812957bus:AuditExemptWithAccountantsReport2023-04-182024-04-3014812957bus:PrivateLimitedCompanyLtd2023-04-182024-04-3014812957bus:SmallEntities2023-04-182024-04-3014812957bus:FullAccounts2023-04-182024-04-30
Company registration number:
14812957
FRF Property Ltd
Unaudited Filleted Financial Statements for the period ended
30 April 2024
FRF Property Ltd
Statement of Financial Position
30 April 2024
30 Apr 2024
Note£
Fixed assets  
Tangible assets 5
14,465
 
Current assets  
Debtors 6
51,000
 
Cash at bank and in hand
25,732
 
76,732
 
Creditors: amounts falling due within one year 7
(48,115
)
Net current assets
28,617
 
Total assets less current liabilities 43,082  
Capital and reserves  
Called up share capital
1
 
Profit and loss account
43,081
 
Shareholders funds
43,082
 
For the period ending
30 April 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
26 November 2024
, and are signed on behalf of the board by:
W Russell Flint
Director
Company registration number:
14812957
FRF Property Ltd
Notes to the Financial Statements
Period ended
30 April 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
2 School Hill
,
Horsham
,
West Sussex
,
RH12 3QN
, United Kingdom.
The company was incorporated on 18 April 2023 as FRF Property Ltd.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

The financial statements have been prepared on a going concern basis.
The Directors have carefully reviewed the future prospects of the company and it’s future cash flows. Having assessed this, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from the signing of these financial statements.
For this reason, the Directors continue to adopt the going concern basis for the preparation of the Financial Statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% Straight Line
Motor vehicles
20% Reducing Balance
Plant and machinery
25% Straight Line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the period was
2
.

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
18 April 2023
-  
Additions
15,243
 
At
30 April 2024
15,243
 
Depreciation  
At
18 April 2023
-  
Charge
778
 
At
30 April 2024
778
 
Carrying amount  
At
30 April 2024
14,465
 

6 Debtors

30 Apr 2024
£
Trade debtors
51,000
 

7 Creditors: amounts falling due within one year

30 Apr 2024
£
Trade creditors
6,826
 
Taxation and social security
12,727
 
Other creditors
28,562
 
48,115
 

8 Share capital

On incorporation, 1 ordinary share of £1 was issued at par. This amount was paid in full.

9 Events after the end of the reporting period

In November 2024, a share for share exchange was completed in which a new holding company, FRF Holding Group Ltd, was established and interposed between the shareholders and FRF Property Ltd. Under the arrangement, the shareholders of the Company exchanged their shares in FRF Property Ltd for shares in FRF Holding Group Ltd on a one for one basis. The transaction resulted in FRF Holding Group Ltd becoming the immediate parent of the Company, with no changes in the beneficial ownership or control.

11 Controlling party

The immediate and ultimate controlling party of the company is FRF Holding Group Ltd.