REGISTERED NUMBER: 04955211 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FRANKS & CO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R B Franks

A F Welford

SECRETARY:

D Hartley

REGISTERED OFFICE:

15 Jessops Riverside

Brightside Lane

Sheffield

South Yorkshire

S9 2RX

REGISTERED NUMBER:

04955211 (England and Wales)

ACCOUNTANTS:

Marriott Gibbs Rees Wallis Limited

Chartered Certified Accountants

First Floor

Unit 4, Broadfield Court

Sheffield

South Yorkshire

S8 0XF

FIXED ASSETS

Intangible assets

4

100,000

124,923

Tangible assets

5

807

1,163

Investments

6

40,570

40,570

141,377

166,656

CURRENT ASSETS

Debtors

7

245,780

239,552

Cash at bank and in hand

35,830

34,855

281,610

274,407

CREDITORS

Amounts falling due within one year

8

253,311

222,329

NET CURRENT ASSETS

28,299

52,078

TOTAL ASSETS LESS CURRENT LIABILITIES

169,676

218,734

CREDITORS

Amounts falling due after more than one year

9

163,969

202,064

NET ASSETS

5,707

16,670

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Retained earnings

(94,293

)

(83,330

)

5,707

16,670

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

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

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by:

R B Franks - Director

1.	STATUTORY INFORMATION

Franks & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents amounts receivable for services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 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.

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 contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

1,111,000

56,945

1,167,945

AMORTISATION

At 1 January 2024

986,507

56,515

1,043,022

Charge for year

24,493

430

24,923

At 31 December 2024

1,011,000

56,945

1,067,945

NET BOOK VALUE

At 31 December 2024

100,000

-

100,000

At 31 December 2023

124,493

430

124,923

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

137,900

Additions

735

At 31 December 2024

138,635

DEPRECIATION

At 1 January 2024

136,737

Charge for year

1,091

At 31 December 2024

137,828

NET BOOK VALUE

At 31 December 2024

807

At 31 December 2023

1,163

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

40,570

NET BOOK VALUE

At 31 December 2024

40,570

At 31 December 2023

40,570

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Franks & Co (Mancunium) Limited

Registered office: England & Wales

Nature of business: European Patent and Trade Mark Attorneys

%

Class of shares:

holding

Ordinary

75.80

2024

2023

£

£

Aggregate capital and reserves

431

(8,621

)

Profit for the year

9,052

8,088

Franks & Co (South) Limited

Registered office: England & Wales

Nature of business: European Patent and Trade Mark Attorneys

%

Class of shares:

holding

Ordinary

100.00

2024

2023

£

£

Aggregate capital and reserves

(106,729

)

(96,181

)

Loss for the year

(10,548

)

(31,437

)

Franks & Co Europe BV

Registered office: Belgium

Nature of business: European Patent and Trade Mark Attorneys

%

Class of shares:

holding

Ordinary

100.00

2024

2023

£

£

Aggregate capital and reserves

16,263

18,532

Loss for the year

(1,366

)

(173

)

Separate company financial statements are required to be prepared by law. Consolidated financial statements for the group are not required due to the size of the group.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as

restated

£

£

Trade debtors

151,103

137,450

Amounts owed by group undertakings

-

44,538

Amounts recoverable on contract

27,498

32,679

Other debtors

67,179

24,885

245,780

239,552

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

as

restated

£

£

Bank loans and overdrafts

37,450

23,645

Trade creditors

96,647

114,371

Corporation tax

-

36

Social security and other taxes

17,690

11,866

VAT

23,247

25,852

Other creditors

44,232

13,102

Directors' current accounts

30,000

30,000

Accruals and deferred income

4,045

3,457

253,311

222,329

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

as

restated

£

£

Bank loans - 1-2 years

28,799

100,873

Bank loans - 2-5 years

45,979

-

Directors' loan accounts

89,191

101,191

163,969

202,064

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

as

restated

£

£

Within one year

73,332

79,332

Between one and five years

293,329

293,329

In more than five years

85,555

158,887

452,216

531,548

11.	RELATED PARTY DISCLOSURES

Dr R B Franks has guaranteed the company bank borrowings to the sum of £200,000.

Franks & Co (Mancunium) Limited

(75.8% subsidiary of Franks & Co Limited)

An interest free loan has been provided from the company which is repayable on demand.

Included with other operating income is a management charge to Franks and Co (Mancunium) Limited amounting to £nil (2023 - £2,784).

During the year the company supplied other services to Franks & Co (Mancunium) Limited amounting to £nil (2023 - £2,360).

The amount owed to/[from] the company at the balance sheet date was £13,769 (2023 - [£906]).

During the year the company was supplied other services by Franks & Co (Mancunium) Limited amounting to £nil (2023 - £8,482).

The amount owned by the company at the balance sheet date was £nil (2023 - £2,275).