| REGISTERED NUMBER: |
| Frameworks Holdings Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| REGISTERED NUMBER: |
| Frameworks Holdings Ltd |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Frameworks Holdings Ltd |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets |
| Capital and reserves |
| Called up share capital |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Frameworks Holdings Ltd is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. |
| Going concern |
| The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is calculated on the following basis: |
| Improvements to property - to be depreciated to the earliest of break date/lease end or useful life (maximum ten years) from the date of purchase. |
| Fixtures and fittings - to be depreciated to the earliest of break date/lease end or useful life (no longer than three years) from the date of purchase. |
| Computer equipment - to be depreciated to the earliest of break date/lease end or useful life (no longer than three years) from the date of purchase. |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | Accounting policies - continued |
| Financial instruments |
| Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full. |
| Financial assets and liabilities - classified as basic financial instruments |
| (i) Cash and cash equivalents |
| Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
| (ii) Trade and other receivables |
| Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
| At the end of each reporting period, the company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement. |
| (iii) Equity investments |
| Equity investments comprise ordinary shares, not publicly traded in active markets for which a reliable fair value cannot be measured reliably. Equity investments are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss. |
| (iv) Trade and other payables and loans and borrowings |
| Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid. |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Capitalised |
| lease costs |
| £ |
| Cost |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| Amortisation |
| Amortisation for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | Tangible fixed assets |
| Fixtures |
| Improvements | and | Computer |
| to property | fittings | equipment | Totals |
| £ | £ | £ | £ |
| Cost |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2024 |
| Depreciation |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| At 31 December 2023 |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 5. | Tangible fixed assets - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows: |
| Fixtures |
| and |
| fittings |
| £ |
| Cost |
| Additions |
| At 31 December 2024 |
| Depreciation |
| Charge for year |
| At 31 December 2024 |
| Net book value |
| At 31 December 2024 |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Furniture financing |
| Frameworks Holdings Ltd (Registered number: 10221591) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 9. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |