Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05677094 2023-04-01 2024-03-31 05677094 2022-04-01 2023-03-31 05677094 2024-03-31 05677094 2023-03-31 05677094 c:Director1 2023-04-01 2024-03-31 05677094 c:Director2 2023-04-01 2024-03-31 05677094 d:Buildings 2023-04-01 2024-03-31 05677094 d:Buildings 2024-03-31 05677094 d:Buildings 2023-03-31 05677094 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05677094 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 05677094 d:Buildings d:ShortLeaseholdAssets 2024-03-31 05677094 d:Buildings d:ShortLeaseholdAssets 2023-03-31 05677094 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05677094 d:CurrentFinancialInstruments 2024-03-31 05677094 d:CurrentFinancialInstruments 2023-03-31 05677094 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05677094 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05677094 d:ShareCapital 2024-03-31 05677094 d:ShareCapital 2023-03-31 05677094 d:RetainedEarningsAccumulatedLosses 2024-03-31 05677094 d:RetainedEarningsAccumulatedLosses 2023-03-31 05677094 c:FRS102 2023-04-01 2024-03-31 05677094 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05677094 c:FullAccounts 2023-04-01 2024-03-31 05677094 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05677094 2 2023-04-01 2024-03-31 05677094 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 05677094










FRANKSTON (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FRANKSTON (UK) LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRANKSTON (UK) LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Frankston (UK) Limited for the year ended 31 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Frankston (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 28th July 2015Our work has been undertaken solely to prepare for your approval the financial statements of Frankston (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Frankston (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frankston (UK) Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Frankston (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frankston (UK) Limited. You consider that Frankston (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Frankston (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MWS
 
Chartered Accountants
  
Kingsridge House
601 London Road
Westcliff On Sea
Essex
SS0 9PE
9 January 2025
Page 1

 
FRANKSTON (UK) LIMITED
REGISTERED NUMBER: 05677094

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
675,744
675,889

  
675,744
675,889

Current assets
  

Debtors: amounts falling due within one year
 5 
228,761
190,333

Cash at bank and in hand
 6 
159,346
152,304

  
388,107
342,637

Creditors: amounts falling due within one year
 7 
(594,678)
(591,587)

Net current liabilities
  
 
 
(206,571)
 
 
(248,950)

Total assets less current liabilities
  
469,173
426,939

  

Net assets
  
469,173
426,939


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
469,171
426,937

  
469,173
426,939


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 January 2025.




M Hamond
C Adamson
Director
Director

Page 2

 
FRANKSTON (UK) LIMITED
REGISTERED NUMBER: 05677094

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
FRANKSTON (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company, limited by shares and incorporated in Engalnd and Wales. Its registered office is Kingsridge House, 601 London Road, Westcliff-on-Sea, Essex, SS0 9PE. Its registered number is 05677094.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

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 contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
FRANKSTON (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
not depreciated
Short-term leasehold property
-
over the life of the lease

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
FRANKSTON (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property
Short-term leasehold property
Total

£
£
£



Cost or valuation


At 1 April 2023
675,175
2,469
677,644



At 31 March 2024

675,175
2,469
677,644



Depreciation


At 1 April 2023
-
1,755
1,755


Charge for the year on owned assets
-
145
145



At 31 March 2024

-
1,900
1,900



Net book value



At 31 March 2024
675,175
569
675,744



At 31 March 2023
675,175
714
675,889


5.


Debtors

2024
2023
£
£


Trade debtors
225,774
187,744

Prepayments and accrued income
2,987
2,589

228,761
190,333



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
159,346
152,304

159,346
152,304


Page 6

 
FRANKSTON (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
127,795
127,559

Corporation tax
23,401
18,913

Other creditors
443,482
445,115

594,678
591,587



8.


Related party transactions

During the year the company had related party transactions with the directors, M Hamond and C Adamson as follows:
Dividends £29,600 (2023: £27,200)


Page 7