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Registered number: 03723283









FRENGER INTERNATIONAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
FRENGER INTERNATIONAL LIMITED
REGISTERED NUMBER: 03723283

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,022
4,821

Investments
 5 
1
20

  
1,023
4,841

Current assets
  

Debtors: amounts falling due within one year
 6 
3,203,239
2,569,722

Cash at bank and in hand
 7 
1,507,737
1,574,633

  
4,710,976
4,144,355

Creditors: amounts falling due within one year
 8 
(146,479)
(19,019)

Net current assets
  
 
 
4,564,497
 
 
4,125,336

Total assets less current liabilities
  
4,565,520
4,130,177

  

Net assets
  
4,565,520
4,130,177


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
4,565,420
4,130,077

  
4,565,520
4,130,177


Page 1

 
FRENGER INTERNATIONAL LIMITED
REGISTERED NUMBER: 03723283
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

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 comprehensive income 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 19 January 2025.




B Mermet
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Frenger International Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Wilberforce House, Station Road, London, NW4 4QE.
The company specialises in management consultancy and operates as a holding company of a small group. 

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 company is the parent undertaking of a small group and as such it is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

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 year 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 reporting date can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Depreciation 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 bases:

Fixtures and fittings
-
20%
Straight line
Office equipment
-
33%
Straight line

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 the Statement of comprehensive income.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

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 reporting date in the countries where the Company operates and generates income.


 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost 


At 1 October 2023
88,806
28,764
117,570


Additions
-
648
648



At 30 September 2024

88,806
29,412
118,218



Depreciation


At 1 October 2023
83,985
28,764
112,749


Charge for the year
4,231
216
4,447



At 30 September 2024

88,216
28,980
117,196



Net book value



At 30 September 2024
590
432
1,022



At 30 September 2023
4,821
-
4,821

Page 6

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost and net book value


At 1 October 2023
20


Disposals
(19)



At 30 September 2024
1




Subsidiary undertakings
Name    Class of  Holding Principal
    shares     activity
Frenger Business       
Services Limited  Ordinary  55%      Business services
Freger Consulting Services Limited has been disposed during the year.


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
2,547
52,687

Other debtors
3,200,242
2,506,603

Prepayments and accrued income
450
10,432

3,203,239
2,569,722



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,507,737
1,574,633

1,507,737
1,574,633


Page 7

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,766
9,872

Corporation tax
3,109
-

Other taxation and social security
7,544
3,729

Other creditors
130,000
-

Accruals and deferred income
4,060
5,418

146,479
19,019



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



30 Ordinary A shares of £1 each
30
30
30 Ordinary B shares of £1 each
30
30
20 Ordinary C shares of £1 each
20
20
20 Ordinary D shares of £1 each
20
20

100

100

The Ordinary A, Ordinary B, Ordinary C and Ordinary D shares are separate classes of shares for the purpose of the declaration of dividends. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in respect of any other class of share. In all other respects, the shares rank equally.


10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £101,080 (2023 - £113,870).

Page 8

 
FRENGER INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Related party transactions

Included within other creditors are amounts of £130,000 (2023 - £Nil) due to directors.
 
During the year, the company received management fees amounting to £127,500 (2023 - £140,700) from Frenger Businsess Services Limited, a company in which Frenger International Limited is a shareholder. Included within amounts owed by group undertakings is an amount of £2,547 (2023 - £22,998) due from that company.
 
During the year, the company received management fees amounting to £22,500 (2023 - £30,204) from Frenger Consulting Services Limited, a company in which Frenger International Limited was formerly a shareholder. Included within other debtors is an amount of £242 (2023 - £29,689) due from that company.
 
Included within other debtors is an amount of £3,200,000 (2023 - £2,500,000) due from a company under common control.
 

12.


Controlling party

The ultimate controlling parties are directors by virtue of their majority shareholding in the company.

 
Page 9