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Registered Number: 10395286
England and Wales

 

 

 

FRONTIVE HOLDING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
31/03/2024
£
  31/03/2023
£
Fixed assets      
Tangible fixed assets 3 131,249    189,877 
Investments 4 15,795,205    15,580,544 
15,926,454    15,770,421 
Current assets      
Debtors 564,347    307,143 
Cash at bank and in hand 78,243    110,385 
642,590    417,528 
Creditors: amount falling due within one year (489,198)   (285,568)
Net current assets 153,392    131,960 
 
Total assets less current liabilities 16,079,846    15,902,381 
Creditors: amount falling due after more than one year (4,217,435)   (4,365,527)
Net assets 11,862,411    11,536,854 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 11,862,311    11,536,754 
Shareholders' funds 11,862,411    11,536,854 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 18 December 2024 and were signed on its behalf by:


-------------------------------
G Sato
Director
1
General Information
Frontive Holding Ltd is a private company, limited by shares, registered in England and Wales, registration number 10395286, registration address 3 Nisbett Walk, Sidcup, England, DA14 6BT.

The presentation currency is £ sterling.
1.

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 as modified by the revaluation of certain assets.
Preparation of consolidated financial statements
The financial statements contain information about Frontive Holding Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006from the requirements to prepare consolidated financial statements.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of Services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contact; - the stage of completion of the contract at the end of the reporting period can bemeasuredreliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
The company has established subsidiaries in the UK and invested £447,215 at cost as fair value cannot be reliably determined.

Financial instruments
The company has elected to apply Section 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
The company's policies for its major classes of the financial assets and financial liabilities are set out below.
Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances and intercompany working capital balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instrument are subsequently carried at a amortised cost, using the effective interest rate method.
Impairment of financial assets
Financial assets 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 the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cashflows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss
Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
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. 
Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The directors consider this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Taxation
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023. 
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 20% Straight Line
Computer Equipment 25% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Average number of employees


Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Computer Equipment   Total
  £   £   £
At 01 April 2023 306,315    4,102    310,417 
Additions   3,142    3,142 
Disposals   (342)   (342)
At 31 March 2024 306,315    6,902    313,217 
Depreciation
At 01 April 2023 116,995    3,545    120,540 
Charge for year 61,263    264    61,527 
On disposals   (99)   (99)
At 31 March 2024 178,258    3,710    181,968 
Net book values
Closing balance as at 31 March 2024 128,057    3,192    131,249 
Opening balance as at 01 April 2023 189,320    557    189,877 


4.

Investments

Cost Other investments other than loans   Investments in group undertakings   Loans to group undertakings   Total
  £   £   £   £
At 01 April 2023 13,212,390    447,214    1,920,940    15,580,544 
Additions   530    262,000    262,530 
Transfer to/from tangible fixed assets      
Disposals      
Revaluations (47,869)       (47,869)
At 31 March 2024 13,164,521    447,744    2,182,940    15,795,205 

5.

Share Capital

Authorised
100 Share Capital 1 shares of £1.00 each
Allotted, called up and fully paid
31/03/2024
£
  31/03/2023
£
100 Share Capital 1 shares of £1.00 each 100    100 
100    100 

2