| REGISTERED NUMBER: |
| FRANHIL DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST OCTOBER 2024 |
| REGISTERED NUMBER: |
| FRANHIL DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31ST OCTOBER 2024 |
| FRANHIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04564924) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| FRANHIL DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST OCTOBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 43-45 Devizes Road |
| SWINDON |
| Wiltshire |
| SN1 4BG |
| BANKERS: |
| 24-30 The Parade |
| SWINDON |
| Wiltshire |
| SN1 1BA |
| FRANHIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04564924) |
| STATEMENT OF FINANCIAL POSITION |
| 31ST OCTOBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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 director and authorised for issue on |
| FRANHIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04564924) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST OCTOBER 2024 |
| 1. | STATUTORY INFORMATION |
| Franhil Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below: |
| Registered number: 04564924 |
| Registered office: 43-45 Devizes Road, Swindon, Wiltshire, SN1 4BG |
| The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In preparing these financial statements, the director has made the following judgements: |
| - Determine the basis of the fair value of the investment property using the director's knowledge of the market and his estimate of the rental multiple. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Financial instruments |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| FRANHIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04564924) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st November 2023 |
| Revaluations | (35,000 | ) |
| At 31st October 2024 |
| NET BOOK VALUE |
| At 31st October 2024 |
| At 31st October 2023 |
| Fair value at 31st October 2024 is represented by: |
| £ |
| Valuation in 2014 | 16,263 |
| Valuation in 2017 | 32,956 |
| Valuation in 2018 | 5,000 |
| Valuation in 2019 | 195,000 |
| Valuation in 2020 | 42,781 |
| Valuation in 2023 | 30,000 |
| Valuation in 2024 | (35,000 | ) |
| Cost | 413,000 |
| 700,000 |
| The above cost is split between a freehold residential property appropriated from trading stock of £118,737 and a commercial property of £294,263. |
| Investment properties were last revalued in the accounts by the directors as at 31 October 2024. The revaluation was on the basis of the estimated open market value of the properties for their existing use, and has been calculated using current rental levels as the prime indicator. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| Included within 'Other Creditors' is a balance that is secured by a mortgage over freehold property known as Jasmine Cottage, High Street, Highworth. |
| FRANHIL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04564924) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST OCTOBER 2024 |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 8. | RESERVES |
| Included within retained earnings is £224,763 (2023: £251,013) which is un-distributable. This |
| amount represents the difference between the fair value at the reporting date and the cost at |
| initial recognition of the investment property, after taking into account any relevant deferred tax |
| liability. |