Frame & Swift Property Limited 15023220 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is the letting of property. Digita Accounts Production Advanced 6.30.9574.0 true true 15023220 2023-09-01 2024-08-31 15023220 2024-08-31 15023220 core:RetainedEarningsAccumulatedLosses 2024-08-31 15023220 core:ShareCapital 2024-08-31 15023220 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 15023220 bus:SmallEntities 2023-09-01 2024-08-31 15023220 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 15023220 bus:FullAccounts 2023-09-01 2024-08-31 15023220 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 15023220 bus:RegisteredOffice 2023-09-01 2024-08-31 15023220 bus:Director1 2023-09-01 2024-08-31 15023220 bus:Director2 2023-09-01 2024-08-31 15023220 bus:Director3 2023-09-01 2024-08-31 15023220 bus:Director4 2023-09-01 2024-08-31 15023220 bus:Director5 2023-09-01 2024-08-31 15023220 bus:Director6 2023-09-01 2024-08-31 15023220 bus:Director7 2023-09-01 2024-08-31 15023220 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 15023220 countries:England 2023-09-01 2024-08-31 15023220 2023-07-24 2023-08-31 15023220 2023-08-31 15023220 core:RetainedEarningsAccumulatedLosses 2023-08-31 15023220 core:ShareCapital 2023-08-31 15023220 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 15023220

Frame & Swift Property Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Frame & Swift Property Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Frame & Swift Property Limited

(Registration number: 15023220)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

19,208

-

Current assets

 

Debtors

57,250

175

Cash at bank and in hand

 

9,075

-

 

66,325

175

Creditors: Amounts falling due within one year

(88,681)

-

Net current (liabilities)/assets

 

(22,356)

175

Net (liabilities)/assets

 

(3,148)

175

Capital and reserves

 

Called up share capital

175

175

Profit and loss account

(3,323)

-

Total equity

 

(3,148)

175

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Frame & Swift Property Limited

(Registration number: 15023220)
Abridged Balance Sheet as at 31 August 2024

Approved and authorised by the Board on 16 April 2025 and signed on its behalf by:
 

Mr R G Anderton

Director

Mr J Watson

Director

Mr J B Place

Director

Mrs A J Wolfe

Director

Ms R J Tennant

Director

Mr M D Rook

Director

Mr S D Galloway

Director

 

Frame & Swift Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Veterinary Centre
Carleton
Penrith
Cumbria
CA11 8TZ

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. Of the company's liabilities at 31 August 2024 £86,180 in total is owed to Frame & Swift Limited and Frame Swift and Partners LLP. The directors of Frame & Swift Property Limited are all directors of Frame & Swift Liimited and designated members of Frame Swift and Partners LLP. Frame & Swift Limited and Frame Swift and Partners LLP have no other directors or designated members.

The directors have agreed to not demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

The directors have considered a period of 12 months from the date of approval of the financial statements and consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Frame & Swift Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

4

Investment properties

2024
£

Additions

19,208

At 31 August 2024

19,208

Neither the construction of the new veterinary surgery building, nor the purchase of the land has taken place as of the balance sheet date. Therefore, the fair value of the investment property is presumed to be equal to the amount of expenditure that has been capitalised in the accounts.

There has been no valuation of investment property by an independent valuer.