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COMPANY REGISTRATION NUMBER: 06130712
Fearlessly Frank Limited
Filleted Unaudited Financial Statements
29 February 2024
Fearlessly Frank Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Fearlessly Frank Limited
Officers and Professional Advisers
The board of directors
B Little
R G Evans
Registered office
727-729 High Road
London
N12 0BP
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Fearlessly Frank Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Fearlessly Frank Limited
Year ended 29 February 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 29 February 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Fearlessly Frank Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
3,597
4,800
Current assets
Debtors
6
242,932
433,827
Cash at bank and in hand
99,253
128,813
---------
---------
342,185
562,640
Creditors: amounts falling due within one year
7
237,110
350,980
---------
---------
Net current assets
105,075
211,660
---------
---------
Total assets less current liabilities
108,672
216,460
Creditors: amounts falling due after more than one year
8
10,255
21,036
---------
---------
Net assets
98,417
195,424
---------
---------
Capital and reserves
Called up share capital
141
141
Share premium account
299,984
299,984
Profit and loss account
( 201,708)
( 104,701)
---------
---------
Shareholders funds
98,417
195,424
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fearlessly Frank Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
R G Evans
Director
Company registration number: 06130712
Fearlessly Frank Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 727-729 High Road, London, N12 0BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have had to be made by the directors in preparing these financial statements .
Revenue recognition
Turnover represents the amounts received and receivable from clients for the provision of services and is stated after excluding VAT. Turnover is recognised as fair value as services activity progresses on the following basis: - Project fees are recognised over the period of the relevant assignment or agreements; - Retainer fees are spread over the period of the contract on a straight line basis; - Third–party production fees are recognised at the point related costs are incurred. Turnover includes all charges paid to external suppliers where they are retained to perform part or all of the client assignment.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% straight line
Equipment
-
25% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 March 2023
17,041
74,825
91,866
Additions
1,082
1,082
--------
--------
--------
At 29 February 2024
17,041
75,907
92,948
--------
--------
--------
Depreciation
At 1 March 2023
17,041
70,025
87,066
Charge for the year
2,285
2,285
--------
--------
--------
At 29 February 2024
17,041
72,310
89,351
--------
--------
--------
Carrying amount
At 29 February 2024
3,597
3,597
--------
--------
--------
At 28 February 2023
4,800
4,800
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
210,806
360,844
Other debtors
32,126
72,983
---------
---------
242,932
433,827
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,648
10,648
Trade creditors
86,471
116,488
Social security and other taxes
36,486
16,553
Other creditors
103,505
207,291
---------
---------
237,110
350,980
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
10,255
21,036
--------
--------
9. Related party transactions
In the opinion of the directors there is no one controlling party.