Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-1522024-01-01falseFurnished holiday letting.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11725229 2024-01-01 2024-12-31 11725229 2023-01-01 2023-12-31 11725229 2024-12-31 11725229 2023-12-31 11725229 2023-01-01 11725229 c:Director1 2024-01-01 2024-12-31 11725229 c:Director2 2024-01-01 2024-12-31 11725229 d:MotorVehicles 2024-01-01 2024-12-31 11725229 d:MotorVehicles 2024-12-31 11725229 d:MotorVehicles 2023-12-31 11725229 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11725229 d:FurnitureFittings 2024-01-01 2024-12-31 11725229 d:FurnitureFittings 2024-12-31 11725229 d:FurnitureFittings 2023-12-31 11725229 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11725229 d:OfficeEquipment 2024-01-01 2024-12-31 11725229 d:OfficeEquipment 2024-12-31 11725229 d:OfficeEquipment 2023-12-31 11725229 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11725229 d:ComputerEquipment 2024-01-01 2024-12-31 11725229 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 11725229 d:FreeholdInvestmentProperty 2024-12-31 11725229 d:FreeholdInvestmentProperty 2023-12-31 11725229 d:FreeholdInvestmentProperty 2 2024-01-01 2024-12-31 11725229 d:CurrentFinancialInstruments 2024-12-31 11725229 d:CurrentFinancialInstruments 2023-12-31 11725229 d:Non-currentFinancialInstruments 2024-12-31 11725229 d:Non-currentFinancialInstruments 2023-12-31 11725229 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 11725229 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11725229 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 11725229 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11725229 d:ShareCapital 2024-12-31 11725229 d:ShareCapital 2023-12-31 11725229 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11725229 d:RetainedEarningsAccumulatedLosses 2024-12-31 11725229 d:RetainedEarningsAccumulatedLosses 2023-12-31 11725229 c:FRS102 2024-01-01 2024-12-31 11725229 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11725229 c:FullAccounts 2024-01-01 2024-12-31 11725229 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11725229 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 11725229 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11725229 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 11725229 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 11725229 d:OtherDeferredTax 2024-12-31 11725229 d:OtherDeferredTax 2023-12-31 11725229 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 11725229










FRONTLINE LETTINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
FRONTLINE LETTINGS LIMITED
REGISTERED NUMBER: 11725229

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
40,644
50,891

Investment property
 5 
1,064,933
1,019,933

  
1,105,577
1,070,824

Current assets
  

Debtors: amounts falling due within one year
 6 
45,720
42,685

Cash at bank and in hand
  
1,490
8,702

  
47,210
51,387

Creditors: amounts falling due within one year
 7 
(1,098,311)
(1,049,300)

Net current liabilities
  
 
 
(1,051,101)
 
 
(997,913)

Total assets less current liabilities
  
54,476
72,911

Creditors: amounts falling due after more than one year
 8 
(2,083)
(7,083)

Provisions for liabilities
  

Deferred tax
 9 
(46,164)
(38,791)

Net assets
  
6,229
27,037


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
6,129
26,937

  
6,229
27,037


Page 1

 
FRONTLINE LETTINGS LIMITED
REGISTERED NUMBER: 11725229
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 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 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 income and retained earnings 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 15 May 2025.




P Webber
V J Webber
Director
Director

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

Page 2

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Frontline Lettings Limited is a private company limited by shares, incorporated in England and Wales (registered number: 11725229). Its registered office is Royal Court, Basil Close, Chesterfield, Derbyshire S41 7SL. The principal activity of the Company throughout the year continued to be that of furnished holiday letting.

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 Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
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:

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.

Page 3

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.4

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, as follows.

The depreciation rates are:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
33%
straight line

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost 


At 1 January 2024
24,173
66,818
7,833
98,824


Additions
-
1,734
-
1,734


Disposals
-
(3,966)
-
(3,966)



At 31 December 2024

24,173
64,586
7,833
96,592



Depreciation


At 1 January 2024
12,283
30,609
5,041
47,933


Charge for the year on owned assets
2,973
5,117
1,127
9,217


Disposals
-
(1,202)
-
(1,202)



At 31 December 2024

15,256
34,524
6,168
55,948



Net book value



At 31 December 2024
8,917
30,062
1,665
40,644



At 31 December 2023
11,890
36,209
2,792
50,891

Page 5

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
1,019,933


Surplus on revaluation
45,000



At 31 December 2024
1,064,933

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
1,019,933

1,019,933

Page 6

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
6,500
6,460

Other debtors
35,000
35,000

Prepayments and accrued income
4,220
1,225

45,720
42,685



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,000
5,000

Trade creditors
2,226
1,613

Other taxation and social security
4,457
3,269

Other creditors
1,084,230
1,034,273

Accruals and deferred income
2,398
5,145

1,098,311
1,049,300



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,083
7,083


Page 7

 
FRONTLINE LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
38,791
35,479


Charged to profit or loss
7,373
3,312



At end of year
46,164
38,791

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
45,344
47,306

Revaluation gain
11,250
-

Tax losses carried forward
(10,430)
(8,515)

46,164
38,791


10.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, whilst previous UK GAAP stipulated that the surplus on revaluation of the property should be held in a revaluation reserve, which, being an unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these surpluses, although still not distributable, be charged through the profit and loss account. Consequently the profit and loss account reserve at 31 December 2024 includes a non-distributable amount of £33,750 (2023: nil).

 
Page 8