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Registered Number: 07379562
England and Wales

 

 

 

FRANKLYN SHAW ASSOCIATES LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Report to the directors on the preparation of the unaudited statutory accounts of Franklyn Shaw Associates limited for the year ended 31 August 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Franklyn Shaw Associates limited for the year ended 31 August 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of Franklyn Shaw Associates limited, as a body, in accordance with the terms of our engagement letter dated 29 May 2025. Our work has been undertaken solely to prepare for your approval the accounts of Franklyn Shaw Associates limited and state those matters that we have agreed to state to the Board of Directors of Franklyn Shaw Associates limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Franklyn Shaw Associates limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Franklyn Shaw Associates limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Franklyn Shaw Associates limited. You consider that Franklyn Shaw Associates limited 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 accounts of Franklyn Shaw Associates limited. 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 accounts
31 August 2024.



....................................................
London Tax Accountant Limited
47 Fairlands Avenue
Buckhurst Hill
Essex
IG9 5TF
29 May 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 98,177    115,475 
98,177    115,475 
Current assets      
Stocks 346,000    346,452 
Debtors 504,244    545,867 
Cash at bank and in hand 10,279    17,678 
860,523    909,997 
Creditors: amount falling due within one year (436,237)   (569,293)
Net current assets 424,286    340,704 
 
Total assets less current liabilities 522,463    456,179 
Creditors: amount falling due after more than one year (409,754)   (352,487)
Net assets 112,709    103,692 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 112,707    103,690 
Shareholders' funds 112,709    103,692 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 May 2025 and were signed by:


-------------------------------
BRITTAIN Stephen Laurence
Director
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General Information
Franklyn Shaw Associates limited is a private company, limited by shares, registered in England and Wales, registration number 07379562, registration address Eastway Enterprise Centre, 7 Paynes Park, Hitchin, Hertfordshire, SG5 1EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:



Plant and Machinery 15 Reducing Balance
Fixtures and Fittings 15 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 10 (2023 : 20).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 September 2023 280,458    56,600    337,058 
Additions    
Disposals    
At 31 August 2024 280,458    56,600    337,058 
Depreciation
At 01 September 2023 183,274    38,283    221,557 
Charge for year 14,577    2,747    17,324 
On disposals    
At 31 August 2024 197,851    41,030    238,881 
Net book values
Closing balance as at 31 August 2024 82,607    15,570    98,177 
Opening balance as at 01 September 2023 97,158    18,317    115,475 


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