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Company No: 03078830 (England and Wales)

FRASER JOHN LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

FRASER JOHN LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

FRASER JOHN LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
FRASER JOHN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS Mr. N. Seager
Mrs. P. Seager
SECRETARY Mrs. P. Seager
REGISTERED OFFICE Century House
Wargrave Road
Henley-On-Thames
England
RG9 2LT
United Kingdom
COMPANY NUMBER 03078830 (England and Wales)
ACCOUNTANT Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
FRASER JOHN LIMITED

BALANCE SHEET

As at 30 September 2024
FRASER JOHN LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 109,893 942
Investment property 5 3,146,884 3,085,141
3,256,777 3,086,083
Current assets
Debtors 6 1,236,977 1,207,428
Investments 7 27,825 25,377
Cash at bank and in hand 47,802 32,674
1,312,604 1,265,479
Creditors: amounts falling due within one year 8 ( 681,743) ( 515,174)
Net current assets 630,861 750,305
Total assets less current liabilities 3,887,638 3,836,388
Provision for liabilities ( 170,736) ( 160,736)
Net assets 3,716,902 3,675,652
Capital and reserves
Called-up share capital 9 8,970 8,970
Fair value reserve 670,752 637,706
Capital redemption reserve 1,030 1,030
Profit and loss account 3,036,150 3,027,946
Total shareholders' funds 3,716,902 3,675,652

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Fraser John Limited (registered number: 03078830) were approved and authorised for issue by the Board of Directors on 05 June 2025. They were signed on its behalf by:

Mr. N. Seager
Director
FRASER JOHN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
FRASER JOHN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fraser John Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Wargrave Road, Henley-On-Thames, England, RG9 2LT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental income and services provided in the normal course of business, and is shown net of VAT.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Trademarks, patents and licences 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life.

Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 5 years straight line
Computer equipment 4 - 6 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Goodwill Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 October 2023 1 3 4
At 30 September 2024 1 3 4
Accumulated amortisation
At 01 October 2023 1 3 4
At 30 September 2024 1 3 4
Net book value
At 30 September 2024 0 0 0
At 30 September 2023 0 0 0

4. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 October 2023 0 20,317 20,317
Additions 130,106 3,236 133,342
Disposals 0 ( 1,071) ( 1,071)
At 30 September 2024 130,106 22,482 152,588
Accumulated depreciation
At 01 October 2023 0 19,375 19,375
Charge for the financial year 23,553 718 24,271
Disposals 0 ( 951) ( 951)
At 30 September 2024 23,553 19,142 42,695
Net book value
At 30 September 2024 106,553 3,340 109,893
At 30 September 2023 0 942 942

5. Investment property

Investment property
£
Valuation
As at 01 October 2023 3,085,141
Additions 21,743
Fair value movement 40,000
As at 30 September 2024 3,146,884

Valuation

The valuations of investment properties were made as at 30 September 2024 by the directors, on a fair value basis. No depreciation is provided in respect of these properties.

Historic cost

On a historical cost basis, the investment properties would have been included at an original cost of:

2024 2023
£ £
Historic cost 3,050,462 3,028,719

6. Debtors

2024 2023
£ £
Trade debtors 21,275 18,023
Amounts owed by Group undertakings 1,215,469 1,187,481
Prepayments 233 359
Other debtors 0 1,565
1,236,977 1,207,428

7. Current asset investments

2024 2023
£ £
Listed investments – at fair value 27,647 25,199
Other investments – at cost less impairment 178 178
27,825 25,377

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 453 1,116
Amounts owed to directors 484,047 350,016
Accruals 59,098 42,162
Other taxation and social security 7,668 8,556
Other creditors 130,477 113,324
681,743 515,174

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
8,766 Ordinary A shares of £ 1.00 each 8,766 8,766
200 Ordinary B shares of £ 1.00 each 200 200
1 Ordinary C share of £ 1.00 1 1
1 Ordinary D share of £ 1.00 1 1
1 Ordinary F share of £ 1.00 1 1
1 Ordinary G share of £ 1.00 1 1
8,970 8,970