Company registration number 09942554 (England and Wales)
FRACTURE REALITY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
FRACTURE REALITY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
FRACTURE REALITY LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRACTURE REALITY LTD FOR THE YEAR ENDED 30 JUNE 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fracture Reality Ltd for the year ended 30 June 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Fracture Reality Ltd, as a body, in accordance with the terms of our engagement letter dated 20 February 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Fracture Reality Ltd and state those matters that we have agreed to state to the board of directors of Fracture Reality Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fracture Reality Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Fracture Reality Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fracture Reality Ltd. You consider that Fracture Reality Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fracture Reality Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
1 April 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
FRACTURE REALITY LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,100
19,320
Current assets
Debtors
4
84,922
122,338
Cash at bank and in hand
79,112
304,323
164,034
426,661
Creditors: amounts falling due within one year
5
(61,877)
(70,133)
Net current assets
102,157
356,528
Total assets less current liabilities
110,257
375,848
Provisions for liabilities
-
0
(1,500)
Net assets
110,257
374,348
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
110,255
374,346
Total equity
110,257
374,348

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 1 April 2025 and are signed on its behalf by:
Mr L O Knowles-Lee
Director
Company registration number 09942554 (England and Wales)
FRACTURE REALITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Fracture Reality Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors had a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
33.3% per annum on a straight line basis
Computers
33.3% per annum on a straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

FRACTURE REALITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons employed by the company during the year was 2 (2023 - 3).

FRACTURE REALITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
28,146
51,048
79,194
Depreciation and impairment
At 1 July 2023
17,008
42,866
59,874
Depreciation charged in the year
5,333
5,887
11,220
At 30 June 2024
22,341
48,753
71,094
Carrying amount
At 30 June 2024
5,805
2,295
8,100
At 30 June 2023
11,138
8,182
19,320
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
53,113
116,507
Other debtors
31,809
5,831
84,922
122,338
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
36,079
-
0
Taxation and social security
22,193
59,797
Other creditors
3,605
10,336
61,877
70,133
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
200
200
2
2
2024-06-302023-07-01falsefalsefalse01 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr L O Knowles-LeeDr R C Minson099425542023-07-012024-06-30099425542024-06-30099425542023-06-3009942554core:PlantMachinery2024-06-3009942554core:ComputerEquipment2024-06-3009942554core:PlantMachinery2023-06-3009942554core:ComputerEquipment2023-06-3009942554core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3009942554core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3009942554core:CurrentFinancialInstruments2024-06-3009942554core:CurrentFinancialInstruments2023-06-3009942554core:ShareCapital2024-06-3009942554core:ShareCapital2023-06-3009942554core:RetainedEarningsAccumulatedLosses2024-06-3009942554core:RetainedEarningsAccumulatedLosses2023-06-3009942554core:ShareCapitalOrdinaryShareClass12024-06-3009942554core:ShareCapitalOrdinaryShareClass12023-06-3009942554bus:Director12023-07-012024-06-3009942554core:PlantMachinery2023-07-012024-06-3009942554core:ComputerEquipment2023-07-012024-06-30099425542022-07-012023-06-3009942554core:PlantMachinery2023-06-3009942554core:ComputerEquipment2023-06-30099425542023-06-3009942554core:WithinOneYear2024-06-3009942554core:WithinOneYear2023-06-3009942554bus:OrdinaryShareClass12023-07-012024-06-3009942554bus:OrdinaryShareClass12024-06-3009942554bus:OrdinaryShareClass12023-06-3009942554bus:PrivateLimitedCompanyLtd2023-07-012024-06-3009942554bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009942554bus:FRS1022023-07-012024-06-3009942554bus:AuditExemptWithAccountantsReport2023-07-012024-06-3009942554bus:Director22023-07-012024-06-3009942554bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP