| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2024 |
| for |
| Franklin Ellis (2022) Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 September 2024 |
| for |
| Franklin Ellis (2022) Limited |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Franklin Ellis (2022) Limited |
| Company Information |
| for the Year Ended 30 September 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pinnacle House |
| 1 Pinnacle Way |
| Derby |
| Derbyshire |
| DE24 8ZS |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Balance Sheet |
| 30 September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Work in progress |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Balance Sheet - continued |
| 30 September 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2024 |
| 1. | STATUTORY INFORMATION |
| Franklin Ellis (2022) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Revenue recognition and work in progress |
| In accordance with FRS 102, revenue represents amounts chargeable to clients for professional services provided during the year, net of any sales tax. Services to clients, which at the balance sheet date have not been billed, have been recognised as revenue. Revenue is recognised by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the partnership. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment assets |
| Investments are stated at market value. Any aggregate surplus or deficit arising from changes in market value is recognised in profit or loss. |
| Employee ownership trust |
| Franklin Ellis Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 October 2023 |
| Additions |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 October 2023 | 28,247 |
| Revaluations | 7,095 |
| Impairments | ( |
) | (3,700 | ) |
| At 30 September 2024 | 31,642 |
| NET BOOK VALUE |
| At 30 September 2024 | 31,642 |
| At 30 September 2023 | 28,247 |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| Cost or valuation at 30 September 2024 is represented by: |
| Shares in |
| group | Other |
| undertakings | investments | Totals |
| £ | £ | £ |
| Valuation in 2023 | - | 3,620 | 3,620 |
| Valuation in 2024 | (3,700 | ) | 7,095 | 3,395 |
| Cost | 3,700 | 20,927 | 24,627 |
| - | 31,642 | 31,642 |
| If investments had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 20,927 | 20,927 |
| Fixed asset investments were valued on an open market basis on 30 September 2024 by Janua Henderson Investors . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 91,330 | 61,270 |
| Other creditors |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Franklin Ellis (2022) Limited (Registered number: 14131809) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2024 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Franklin Ellis EOT Limited, being the trustee of Franklin Ellis Employee Ownership Trust. |
| 11. | EMPLOYEE OWNERSHIP TRUST |
| On 7 November 2022, 51% of the share capital of Franklin Ellis (2022) Limited was sold by the directors to Franklin Ellis Employee Ownership Trust. This resulted in the company becoming employee owned with the Employee Ownership Trust now holding 51% and therefore the majority of the share capital. |