Registration number:
Frame & Swift Property Limited
for the Year Ended 31 August 2024
Frame & Swift Property Limited
Contents
Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Frame & Swift Property Limited
(Registration number: 15023220)
Abridged Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
- |
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Net current (liabilities)/assets |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
- |
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Total equity |
( |
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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.
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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
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
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investment properties |
2024 |
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Additions |
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At 31 August 2024 |
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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.