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REGISTERED NUMBER: 12060596 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

THE FRISCO PROPERTY COMPANY LTD

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)






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


THE FRISCO PROPERTY COMPANY LTD

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTOR: H C Ball





REGISTERED OFFICE: Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL





REGISTERED NUMBER: 12060596 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 21,370 15,264
23,370 19,264

CURRENT ASSETS
Stocks 19,944 18,620
Debtors 6 13,253 20,055
Cash at bank and in hand 19,328 33,604
52,525 72,279
CREDITORS
Amounts falling due within one year 7 146,575 191,673
NET CURRENT LIABILITIES (94,050 ) (119,394 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(70,680

)

(100,130

)

CREDITORS
Amounts falling due after more than one
year

8

16,847

33,259
NET LIABILITIES (87,527 ) (133,389 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (87,627 ) (133,489 )
SHAREHOLDERS' FUNDS (87,527 ) (133,389 )

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 director acknowledges his 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.

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

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 director and authorised for issue on 28 April 2025 and were signed by:





H C Ball - Director


THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

The Frisco Property Company Ltd 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.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

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 2020, 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.
Short leasehold - Over period of lease
Fixtures and fittings - 33% on cost

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

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 10,000
AMORTISATION
At 1 July 2023 6,000
Amortisation for year 2,000
At 30 June 2024 8,000
NET BOOK VALUE
At 30 June 2024 2,000
At 30 June 2023 4,000

5. TANGIBLE FIXED ASSETS
Fixtures
Short Catering and
leasehold equipment fittings Totals
£    £    £    £   
COST
At 1 July 2023 12,210 9,683 75,000 96,893
Additions - 4,091 5,858 9,949
At 30 June 2024 12,210 13,774 80,858 106,842
DEPRECIATION
At 1 July 2023 3,053 3,576 75,000 81,629
Charge for year 1,221 1,917 705 3,843
At 30 June 2024 4,274 5,493 75,705 85,472
NET BOOK VALUE
At 30 June 2024 7,936 8,281 5,153 21,370
At 30 June 2023 9,157 6,107 - 15,264

THE FRISCO PROPERTY COMPANY LTD (REGISTERED NUMBER: 12060596)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2,000
Prepayments 13,253 18,055
13,253 20,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans (see note 9) 15,898 47,162
Trade creditors 38,201 65,044
Social security and other taxes 8,204 7,051
VAT 29,654 32,466
Other creditors 50,785 34,715
Directors' current accounts 35 35
Accrued expenses 3,798 5,200
146,575 191,673

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 9) 16,847 33,259

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Other loans 6,329 37,593
Bounce back loan 9,569 9,569
15,898 47,162

Amounts falling due between two and five years:
Other loans - 6,544
Bounce back loan 16,847 26,715
16,847 33,259

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100