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REGISTERED NUMBER: 11355795 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Frome Area Building Supplies Limited

Frome Area Building Supplies Limited (Registered number: 11355795)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frome Area Building Supplies Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: R J Cousins
A P Fussell





SECRETARY: R J Cousins





REGISTERED OFFICE: County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ





REGISTERED NUMBER: 11355795 (England and Wales)

Frome Area Building Supplies Limited (Registered number: 11355795)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 366,834 -
Tangible assets 5 978,709 849,564
Investments 6 - 701,476
1,345,543 1,551,040

CURRENT ASSETS
Stocks 678,710 745,428
Debtors 7 433,394 473,460
Prepayments and accrued income 39,018 35,311
Cash at bank and in hand 53,760 66,949
1,204,882 1,321,148
CREDITORS
Amounts falling due within one year 8 791,823 1,090,127
NET CURRENT ASSETS 413,059 231,021
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,758,602

1,782,061

CREDITORS
Amounts falling due after more than one
year

9

(362,277

)

(532,772

)

PROVISIONS FOR LIABILITIES (3,307 ) (3,307 )

ACCRUALS AND DEFERRED INCOME (23,229 ) (18,892 )
NET ASSETS 1,369,789 1,227,090

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,369,689 1,226,990
1,369,789 1,227,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Frome Area Building Supplies Limited (Registered number: 11355795)

Balance Sheet - continued
30 June 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





A P Fussell - Director


Frome Area Building Supplies Limited (Registered number: 11355795)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Frome Area Building Supplies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Frome Area Building Supplies Limited (Registered number: 11355795)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 398,834
At 30 June 2024 398,834
AMORTISATION
Amortisation for year 32,000
At 30 June 2024 32,000
NET BOOK VALUE
At 30 June 2024 366,834

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 July 2023 - 16,185 245,348
Additions 211,897 - 20,995
Disposals - - (3,785 )
At 30 June 2024 211,897 16,185 262,558
DEPRECIATION
At 1 July 2023 - 7,898 83,998
Charge for year - 1,658 19,711
Eliminated on disposal - - (2,221 )
At 30 June 2024 - 9,556 101,488
NET BOOK VALUE
At 30 June 2024 211,897 6,629 161,070
At 30 June 2023 - 8,287 161,350

Frome Area Building Supplies Limited (Registered number: 11355795)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2023 173,729 638,099 40,934 1,114,295
Additions 32,436 - 1,677 267,005
Disposals - (3,367 ) - (7,152 )
At 30 June 2024 206,165 634,732 42,611 1,374,148
DEPRECIATION
At 1 July 2023 57,470 88,450 26,915 264,731
Charge for year 14,402 88,079 10,526 134,376
Eliminated on disposal - (1,447 ) - (3,668 )
At 30 June 2024 71,872 175,082 37,441 395,439
NET BOOK VALUE
At 30 June 2024 134,293 459,650 5,170 978,709
At 30 June 2023 116,259 549,649 14,019 849,564

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 701,476
Disposals (701,476 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 701,476

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 362,065 380,748
Other debtors 40,656 92,712
VAT 30,673 -
433,394 473,460

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 79,426 72,620
Hire purchase contracts 132,196 135,023
Trade creditors 405,844 454,996
Tax 36,498 2,159
Social security and other taxes 16,459 -
VAT - 83,112
Other creditors 121,400 342,217
791,823 1,090,127

Frome Area Building Supplies Limited (Registered number: 11355795)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 86,871 79,426
Bank loans - 2-5 years 38,558 125,429
Hire purchase contracts 236,848 327,917
362,277 532,772