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REGISTERED NUMBER: 04564924 (England and Wales)















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: Mr F A Crick



SECRETARY: Mrs H M Crick



REGISTERED OFFICE: 43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



REGISTERED NUMBER: 04564924 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Nat West Bank Plc
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 4 700,000 735,000

CURRENT ASSETS
Debtors 5 2,039 1,518
Cash at bank 21,399 23,040
23,438 24,558
CREDITORS
Amounts falling due within one year 6 320,371 318,913
NET CURRENT LIABILITIES (296,933 ) (294,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

403,067

440,645

PROVISIONS FOR LIABILITIES 62,237 70,987
NET ASSETS 340,830 369,658

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 340,730 369,558
SHAREHOLDERS' FUNDS 340,830 369,658

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st June 2025 and were signed by:





Mr F A Crick - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 735,000
Revaluations (35,000 )
At 31st October 2024 700,000
NET BOOK VALUE
At 31st October 2024 700,000
At 31st October 2023 735,000

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 2,039 1,518

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 627 2,089
Other creditors 319,744 316,824
320,371 318,913

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: £    £   
100 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.