| REGISTERED NUMBER: |
| FRANK ALLART & COMPANY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| REGISTERED NUMBER: |
| FRANK ALLART & COMPANY LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Share capital | 10 |
| Revaluation reserve |
| 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. |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| BALANCE SHEET - continued |
| 30 NOVEMBER 2024 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Frank Allart & Company Limited is a |
| Registered number: |
| Registered office: |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company's financial statements are individual entity financial statements. |
| The company's financial statements are presented in Sterling and all values are rounded to the nearest pound. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| The freehold property purchased during the year at a cost of £2,262,924 is currently in the process of being refurbished before being occupied by the company. Therefore, no depreciation has been charged on the freehold property. |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method, The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
| Taxation |
| Taxation for the period 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. |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| 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 benefit pension scheme for employees who joined the scheme prior to 1 March 2004. For all other employees the company operates a defined contribution pension scheme. Contributions to defined contribution plans are expensed in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| Revaluations |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for period |
| Revaluation adjustments | ( |
) | ( |
) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 31 December 2023 |
| Included in cost or valuation of land and buildings is freehold land of £ 31,353 (2023 - £ 31,353 ) which is not depreciated. |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 November 2024 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2014 | 328,128 | - | 328,128 |
| Valuation in 2024 | 600,000 | - | 600,000 |
| Cost | 3,066,149 | 2,912,181 | 5,978,330 |
| 3,994,277 | 2,912,181 | 6,906,458 |
| If leasehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2024 | 2023 |
| £ | £ |
| Cost | 771,872 | 771,872 |
| Aggregate depreciation | 178,816 | 172,638 |
| Value of land in freehold land and buildings | 31,353 | 31,353 |
| Leasehold land and buildings were valued on an open market basis on 22 February 2024 by Harrislamb, Property Consultants . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 8) |
| Finance leases |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 8) |
| Finance leases |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,528,033 | - |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2024 | 2023 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| Bank loans |
| Amounts falling due between one and two years: |
| Bank loans - 1-2 years |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 1,528,033 | - |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Finance leases | 141,027 | 176,283 |
| The bank loans are secured by a legal charge over the freehold property, leasehold property, a fixed charge over book and other debts and a fixed floating charge over all assets and undertakings both present and future. Finance leases are secured upon the assets to which they relate. |
| FRANK ALLART & COMPANY LIMITED (REGISTERED NUMBER: 00398726) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2024 TO 30 NOVEMBER 2024 |
| 10. | SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 500,000 | 500,000 |
| 11. | CONTINGENT LIABILITIES |
| The bank holds a composite unlimited multi-lateral guarantee given by Nicanjo Holdings Limited. |
| 12. | CONTROLLING PARTY |
| The company is under the ultimate control of the Board of Directors of Nicanjo Holdings Limited. |
| 13. | FINAL SALARY PENSION SCHEME COMMITMENTS |
| The assets of the final salary pension scheme are held separately from those of the company in and independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £111,694 (2023: £123,754). |