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Registered number: 14193264
Fratelli Games Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14193264
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,812 2,416
1,812 2,416
CURRENT ASSETS
Stocks 5 17,162 15,772
Debtors 6 - 1,902
Cash at bank and in hand 966 200
18,128 17,874
Creditors: Amounts Falling Due Within One Year 7 (30,581 ) (26,578 )
NET CURRENT ASSETS (LIABILITIES) (12,453 ) (8,704 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,641 ) (6,288 )
NET LIABILITIES (10,641 ) (6,288 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (10,642 ) (6,289 )
SHAREHOLDERS' FUNDS (10,641) (6,288)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Phillips
Director
24 February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fratelli Games Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14193264 . The registered office is 23 Hardcastle Drive, Kingston Bagpuize, Abingdon, OX13 5GS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 3,222
As at 30 June 2024 3,222
Depreciation
As at 1 July 2023 806
Provided during the period 604
As at 30 June 2024 1,410
...CONTINUED
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Page 4
Net Book Value
As at 30 June 2024 1,812
As at 1 July 2023 2,416
5. Stocks
2024 2023
£ £
Stock 17,162 15,772
6. Debtors
2024 2023
£ £
Due within one year
VAT - 1,902
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 150 -
Other loans 14,500 18,500
VAT 1 -
Accruals and deferred income 790 750
Director's loan account 623 311
Amounts owed to associates 14,517 7,017
30,581 26,578
8. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Other loans 14,500 18,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Disclosures
At the 30 June 2024, Fratelli Games Ltd owed Hardcastle Limited, a company under common control, £14,517 (2023 - £7,017). The loan is interest free and repayable on demand.
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