Registered number
05317279
Malcolm Franke & Co Ltd
Filleted Accounts
31 December 2024
Malcolm Franke & Co Ltd
Registered number: 05317279
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 2,778 3,185
Current assets
Debtors 5 36,610 23,667
Bank current account 19,480 39,816
Bank deposit account 2 2
56,092 63,485
Creditors: amounts falling due within one year 6 (39,348) (48,781)
Net current assets 16,744 14,704
Total assets less current liabilities 19,522 17,889
Provisions for liabilities (528) (796)
Net assets 18,994 17,093
Capital and reserves
Called up share capital 100 100
Profit and loss account 18,894 16,993
Shareholders' funds 18,994 17,093
The director is 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 director acknowledges his 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.
M D Franke
Director
Date: 3 January 2025
Malcolm Franke & Co Ltd
Notes to the Accounts
for the year ended 31 December 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 tax.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Storage unit 10% of reducing balance
Office furniture 25% of reducing balance
IT equipment 50% of reducing balance
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 16,475
At 31 December 2024 16,475
Amortisation
At 1 January 2024 16,475
At 31 December 2024 16,475
Net book value
At 31 December 2024 -
Goodwill was written off in full in the year of acquisition to match the taxation treatment.
4 Tangible fixed assets
Storage unit Office furniture IT equipment Total
£ £ £ £
Cost
At 1 January 2024 4,242 1,581 1,382 7,205
At 31 December 2024 4,242 1,581 1,382 7,205
Depreciation
At 1 January 2024 1,459 1,291 1,270 4,020
Charge for the year 279 72 56 407
At 31 December 2024 1,738 1,363 1,326 4,427
Net book value
At 31 December 2024 2,504 218 56 2,778
At 31 December 2023 2,783 290 112 3,185
5 Debtors 2024 2023
£ £
Trade debtors 25,668 7,204
Accrued fee income 10,692 16,213
Other debtors and prepayments 250 250
36,610 23,667
6 Creditors: amounts falling due within one year 2024 2023
£ £
Director's loan 23,591 16,652
Corporation tax 8,219 13,427
PAYE and VAT 6,661 9,931
Other creditors and accruals 877 8,771
39,348 48,781
7 Other information
Malcolm Franke & Co Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Campania, Links Road
South Milton
Kingsbridge
Devon
TQ7 3JR
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