Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31true72023-08-01falseAccounting and auditing services7trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04832383 2023-08-01 2024-07-31 04832383 2022-08-01 2023-07-31 04832383 2024-07-31 04832383 2023-07-31 04832383 c:Director1 2023-08-01 2024-07-31 04832383 d:PlantMachinery 2023-08-01 2024-07-31 04832383 d:PlantMachinery 2024-07-31 04832383 d:PlantMachinery 2023-07-31 04832383 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 04832383 d:CurrentFinancialInstruments 2024-07-31 04832383 d:CurrentFinancialInstruments 2023-07-31 04832383 d:Non-currentFinancialInstruments 2024-07-31 04832383 d:Non-currentFinancialInstruments 2023-07-31 04832383 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 04832383 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04832383 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 04832383 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 04832383 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-07-31 04832383 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 04832383 d:ShareCapital 2024-07-31 04832383 d:ShareCapital 2023-07-31 04832383 d:RetainedEarningsAccumulatedLosses 2024-07-31 04832383 d:RetainedEarningsAccumulatedLosses 2023-07-31 04832383 c:FRS102 2023-08-01 2024-07-31 04832383 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04832383 c:FullAccounts 2023-08-01 2024-07-31 04832383 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04832383 2 2023-08-01 2024-07-31 04832383 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 04832383









FRASER RUSSELL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
FRASER RUSSELL LIMITED
REGISTERED NUMBER: 04832383

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 3 
270,785
417,278

  
270,785
417,278

Current assets
  

Debtors: amounts falling due within one year
 4 
482,308
329,708

Cash at bank and in hand
 5 
438,198
571,267

  
920,506
900,975

Creditors: amounts falling due within one year
 6 
(161,911)
(264,215)

Net current assets
  
 
 
758,595
 
 
636,760

Total assets less current liabilities
  
1,029,380
1,054,038

Creditors: amounts falling due after more than one year
 7 
(275,880)
(281,435)

  

Net assets
  
753,500
772,603


Capital and reserves
  

Called up share capital 
  
20,100
20,100

Profit and loss account
  
733,400
752,503

  
753,500
772,603


The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.

Page 1

 
FRASER RUSSELL LIMITED
REGISTERED NUMBER: 04832383
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024




S Zaman
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Fraser Russell Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 04832383. The address of the registered office is 77 Francis Road, Edgbaston Birmingham, West Midlands, B16 8SP. The principal activity of the company in the year was that of Chartered Accountants and Registered Auditors. 
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

Page 3

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
straight line at 2% to 20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
2.11

Creditors

Short-term creditors are measured at the 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.


3.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 August 2023
510,341


Additions
229


Disposals
(127,585)



At 31 July 2024

382,985



Depreciation


At 1 August 2023
93,063


Charge for the year on owned assets
19,137



At 31 July 2024

112,200



Net book value



At 31 July 2024
270,785



At 31 July 2023
417,278


4.


Debtors

2024
2023
£
£


Trade debtors
142,023
152,507
Page 6

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.Debtors (continued)


Other debtors
15,500
1

Prepayments and accrued income
324,785
177,200

482,308
329,708



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
438,198
571,267

438,198
571,267



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,528
6,528

Trade creditors
3,154
2,242

Corporation tax
11
-

Other taxation and social security
33,153
40,450

Other creditors
119,065
214,995

161,911
264,215



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
25,880
31,435

Other creditors
250,000
250,000

275,880
281,435


Page 7

 
FRASER RUSSELL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
6,528
6,528


6,528
6,528



Amounts falling due after more than 5 years

Bank loans
25,880
31,435

25,880
31,435

32,408
37,963


 
Page 8