Company registration number 05579268 (England and Wales)
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,388
14,159
Current assets
Debtors
4
691,279
778,461
Cash at bank and in hand
385,668
536,439
1,076,947
1,314,900
Creditors: amounts falling due within one year
5
(411,838)
(369,465)
Net current assets
665,109
945,435
Total assets less current liabilities
679,497
959,594
Provisions for liabilities
(2,263)
(3,154)
Net assets
677,234
956,440
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
677,134
956,340
Total equity
677,234
956,440
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 14 January 2025 and are signed on its behalf by:
Mr P J Frampton
Director
Company Registration No. 05579268
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Frampton Town Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oriel House, 42 North Bar, Banbury, Oxon, OX16 0TH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20% straight line
Plant and machinery
33.33% straight line
Fixtures, fittings and equipment
33.33% straight line
Computer equipment
33.33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
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.
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
12
14
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
233,777
138,701
372,478
Additions
8,261
8,261
At 31 October 2024
233,777
146,962
380,739
Depreciation and impairment
At 1 November 2023
229,061
129,258
358,319
Depreciation charged in the year
1,240
6,792
8,032
At 31 October 2024
230,301
136,050
366,351
Carrying amount
At 31 October 2024
3,476
10,912
14,388
At 31 October 2023
4,716
9,443
14,159
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
472,241
622,869
Amounts owed by group undertakings
62,272
60,441
Other debtors
156,766
95,151
691,279
778,461
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
86,682
18,230
Taxation and social security
281,232
256,208
Other creditors
43,924
95,027
411,838
369,465
FRAMPTON TOWN PLANNING LIMITED
TRADING AS 'FRAMPTONS'
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
195,417
41,271
7
Parent company
The company is an wholly owned subsidiary of Agenais Limited until 25th October 2024. From 25th October 2024, the company is an wholly owned subsidiary of Agenais Trustees Limited, which was incorporated in the UK on 24th September 2024.