FRAYSLEA LIMITED |
Registered number: |
13440370 |
Balance Sheet |
as at 30 June 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
911 |
|
|
- |
Investments |
4 |
|
|
295,315 |
|
|
295,315 |
|
|
|
|
296,226 |
|
|
295,315 |
|
Current assets |
Debtors |
5 |
|
898 |
|
|
81 |
Cash at bank and in hand |
|
|
1,240 |
|
|
4,474 |
|
|
|
2,138 |
|
|
4,555 |
|
Creditors: amounts falling due within one year |
6 |
|
(135,601) |
|
|
(140,256) |
|
Net current liabilities |
|
|
|
(133,463) |
|
|
(135,701) |
|
Total assets less current liabilities |
|
|
|
162,763 |
|
|
159,614 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(158,532) |
|
|
(156,021) |
|
|
|
Net assets |
|
|
|
4,231 |
|
|
3,593 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
Profit and loss account |
|
|
|
3,231 |
|
|
2,593 |
|
Shareholder's funds |
|
|
|
4,231 |
|
|
3,593 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Nadesan Mylvaganam |
Director |
Approved by the board on 16 March 2025 |
|
FRAYSLEA LIMITED |
Notes to the Accounts |
for the year ended 30 June 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover derives from rental income. Rental income is recognised on an accruals basis. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings, tools and equipment |
over 5 years straight line basis. |
|
|
Investments |
|
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The profit or loss on revaluation is recognised in profit or loss and is subsequently transferred within equity to the "investment property reserve" together with the associated deferred tax. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
Additions |
1,139 |
|
At 30 June 2024 |
1,139 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the year |
228 |
|
At 30 June 2024 |
228 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2024 |
911 |
|
|
4 |
Investment Property |
|
Other |
investments |
£ |
|
Cost |
|
At 1 July 2023 |
295,315 |
|
|
At 30 June 2024 |
295,315 |
|
|
The company's investment property was subject to revaluation at open market value at the period end, carried out by the director. |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
898 |
|
81 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
170 |
|
511 |
|
Other creditors |
135,431 |
|
139,745 |
|
|
|
|
|
|
135,601 |
|
140,256 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Bank loans |
158,532 |
|
156,021 |
|
|
|
|
|
|
|
|
|
|
8 |
Loans |
2024 |
|
2023 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
158,532 |
|
156,021 |
|
|
|
|
|
|
|
|
|
|
The bank loan is secured by first legal charge over the investment property of the company. |
|
|
9 |
Related party transactions |
|
|
Other creditors include an amount of £134,636 (2023: £139,070) due to the director of the company and it is repayable on demand. |
|
|
10 |
Other information |
|
|
FRAYSLEA LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
6 Milton Close |
|
Hayes |
|
Middlesex |
|
UB4 0DE |