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Registered number: 05867956














FRANDEK HOLDINGS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
FRANDEK HOLDINGS LIMITED
REGISTERED NUMBER:05867956

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
135,100
135,100

  
135,100
135,100

Current assets
  

Debtors: amounts falling due within one year
 5 
1,213,181
1,652,519

Cash at bank
 6 
1,921
788

  
1,215,102
1,653,307

Creditors: amounts falling due within one year
 7 
(4,449,275)
(4,887,480)

Net current liabilities
  
 
 
(3,234,173)
 
 
(3,234,173)

Total assets less current liabilities
  
(3,099,073)
(3,099,073)

  

Net liabilities
  
(3,099,073)
(3,099,073)


Capital and reserves
  

Called up share capital 
 8 
200
200

Share premium account
 9 
59,800
59,800

Profit and loss account
 9 
(3,159,073)
(3,159,073)

  
(3,099,073)
(3,099,073)


Page 1

 
FRANDEK HOLDINGS LIMITED
REGISTERED NUMBER:05867956
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 profit and loss account 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 by: 




M H Tillman
Director

Date: 28 February 2025

Page 2

 
FRANDEK HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Frandek Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 05867956. The registered office address is 18 Bristol Gardens, London, W9 2JQ.

The principal activity of the company continued to be that of a holding company.

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 Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006.
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small - sized group. The company has therefore taken advantage of the exemption provided by section 399 of the Companies Act 2006 not to prepare group accounts.

  
2.2

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

 
2.3

Going concern

On the basis of information and enquiries that are pertinent to the company’s circumstances and which the directors believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular the directors believe that adequate cash resources will be available to cover the company’s requirements for working capital for at least twelve months from the date of signing the financial statements.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the holding company is recognised when it is probable the company will receive the rights to the consideration due under the contract.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Page 3

 
FRANDEK HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

 Creditors

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

 
2.10

 Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors, trade and other creditors, and loans with related parties.


3.


Employees

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

4.


Fixed asset investments





Investments in the subsidiary company

£



Cost


At 1 April 2023
135,100



At 31 March 2024
135,100





5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
120,165
293,906

Amounts owed by connected entities
1,074,092
1,340,098

Other debtors
8,000
8,000

Prepayments
10,924
10,515

1,213,181
1,652,519


Page 4

 
FRANDEK HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash

2024
2023
£
£

Cash at bank
1,921
788



7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
14,113
616

Amounts owed to connected entities
965,208
1,071,429

Other creditors
3,464,179
3,812,685

Accruals
5,775
2,750

4,449,275
4,887,480



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary shares of £1.00 each
200
200



9.


Share premium account

The share premium account is a non-distributable reserve which represents the excess of proceeds received over the nominal value of the shares issued.


10.


Commitments under operating leases

At 31 March 2024, the company had future minimum lease payments under non-cancellable operating leases of £137,000 (2023 - £176,000).
 

11.


Transactions with directors

As at the year end, the company owed £3,464,179 (2023 - £3,812,685) to the directors. The loan is secured, interest free and repayable on demand. It is the directors' intention not recall the loan for the foreseeable future until such time that the company is in a position to repay the balance owed. 


12.


Related party transactions

No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35.
Page 5

 
FRANDEK HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Controlling party

The company is under the control of M H Tillman, a director and a majority shareholder of the company.

 
Page 6