REGISTERED NUMBER: 06737173 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FRANKS & CO (SOUTH) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R B Franks

SECRETARY:

D Hartley

REGISTERED OFFICE:

15 Jessops Riverside

Brightside Lane

Sheffield

South Yorkshire

S9 2RX

REGISTERED NUMBER:

06737173 (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

61,913

74,504

Tangible assets

5

-

-

61,913

74,504

CURRENT ASSETS

Debtors

6

-

87

CREDITORS

Amounts falling due within one year

7

161,312

157,324

NET CURRENT LIABILITIES

(161,312

)

(157,237

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(99,399

)

(82,733

)

CREDITORS

Amounts falling due after more than one year

8

7,330

13,448

NET LIABILITIES

(106,729

)

(96,181

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(107,729

)

(97,181

)

(106,729

)

(96,181

)

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 director acknowledges her 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 director and authorised for issue on 1 September 2025 and were signed by:

R B Franks - Director

1.	STATUTORY INFORMATION

Franks & Co (South) 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

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 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.

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

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.

Going concern

The financial statements have been prepared on a going concern basis, on the understanding that the company will continue to receive the support of the director as required.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

251,819

AMORTISATION

At 1 January 2024

177,315

Charge for year

12,591

At 31 December 2024

189,906

NET BOOK VALUE

At 31 December 2024

61,913

At 31 December 2023

74,504

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

17,288

DEPRECIATION

At 1 January 2024

and 31 December 2024

17,288

NET BOOK VALUE

At 31 December 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

-

87

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,122

5,971

Trade creditors

37,097

40,638

Amounts owed to group undertakings

48,028

35,548

Other creditors

69,159

75,159

Accruals and deferred income

906

8

161,312

157,324

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

6,122

6,122

Bank loans - 2-5 years

1,208

7,326

7,330

13,448

9.	RELATED PARTY DISCLOSURES

J Banford

(Director - resigned 30 December 2022)

Included in other creditors is an interest free loan to J Banford which is repayable on demand.

The amount owed to J Banford at the balance sheet date is £69,159 (2023: £75,159).

10.	ULTIMATE CONTROLLING PARTY

The ultimate holding company is Franks & Co Limited.

The ultimate controlling party is Dr R B Franks, the majority shareholder in the holding company.