Francis Trading Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03389903 (England and Wales)

Francis Trading Holdings Limited

Unaudited Financial Statements

for the Year Ended

31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P J Swindell

Mrs S J Robinson

M A Swindell

SECRETARY:

Mrs P J Swindell

REGISTERED OFFICE:

Unit 9B,

Thorpe Close,

Banbury,

Oxfordshire

OX16 8SW

REGISTERED NUMBER:

03389903 (England and Wales)

ACCOUNTANTS:

Moffat Gilbert

Unit 12

Shottery Brook Office Park

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NR

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

1,031,246

1,066,741

Investments

6

1,000

1,032,246

1,067,741

CURRENT ASSETS

Debtors

7

104,442

99,489

Cash at bank

704,971

712,596

809,413

812,085

CREDITORS

Amounts falling due within one year

8

30,890

35,627

NET CURRENT ASSETS

778,523

776,458

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,810,769

1,844,199

PROVISIONS FOR LIABILITIES

52,837

58,360

NET ASSETS

1,757,932

1,785,839

CAPITAL AND RESERVES

Called up share capital

9

1,000

Non-distributable reserve

10

461,492

460,766

Retained earnings

10

1,295,440

1,324,073

SHAREHOLDERS' FUNDS

1,757,932

1,785,839

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

M A Swindell - Director

1.	STATUTORY INFORMATION

Francis Trading Holdings 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Francis Trading Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, was 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.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance and over the remaining term of the leases

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

The rates of depreciation on the property have been reviewed according to the various components of the building. The rate of depreciation on the main building is at the rate of 2% straight line per annum and the directors are confident that the roof should also be depreciated at this rate. Other major components have been included within the other asset categories to depreciate them at an increased rate in accordance with their estimated life span.

Taxation

Taxation for the year 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.

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.

Operating leases

Leases which do not pass the risks and rewards of ownership to the company are charged to the profit and loss account as incurred, with due regard to the accruals concept.

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

COST

At 1 January 2024

and 31 December 2024

30,000

3,718

33,718

AMORTISATION

At 1 January 2024

and 31 December 2024

30,000

3,718

33,718

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Tooling

machinery

£

COST OR VALUATION

At 1 January 2024

985,000

26,905

390,772

Additions

-

760

At 31 December 2024

985,000

26,905

391,532

DEPRECIATION

At 1 January 2024

37,800

26,905

314,203

Charge for year

12,600

-

15,466

At 31 December 2024

50,400

26,905

329,669

NET BOOK VALUE

At 31 December 2024

934,600

-

61,863

At 31 December 2023

947,200

-

76,569

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 January 2024

33,914

45,813

20,549

1,502,953

Additions

-

1,200

1,960

At 31 December 2024

33,914

45,813

21,749

1,504,913

DEPRECIATION

At 1 January 2024

29,642

8,399

19,263

436,212

Charge for year

869

7,483

1,037

37,455

At 31 December 2024

30,511

15,882

20,300

473,667

NET BOOK VALUE

At 31 December 2024

3,403

29,931

1,449

1,031,246

At 31 December 2023

4,272

37,414

1,286

1,066,741

Cost or valuation at 31 December 2024 is represented by:

Freehold

Plant and

property

Tooling

machinery

£

Valuation in 2015

171,192

-

Valuation in 2020

145,000

-

Cost

668,808

26,905

391,532

985,000

26,905

391,532

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

Valuation in 2015

-

171,192

Valuation in 2020

-

145,000

Cost

33,914

45,813

21,749

1,188,721

33,914

45,813

21,749

1,504,913

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

Cost

668,808

Aggregate depreciation

225,410

215,234

Value of land in freehold land and buildings

160,000

Freehold land and buildings were valued on an open market basis on 31 December 2020 by Messrs Bankier Sloan .

The value of the land held within the revalued freehold property cost of £985,000 is considered to be £355,000 and therefore this element has not been depreciated.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

1,000

NET BOOK VALUE

At 31 December 2024

1,000

At 31 December 2023

1,000

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

Swindell Painting Limited

Registered office: Unit 9B Thorpe Close Banbury Oxfordshire

Nature of business: Supply and finishing of metal components

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

£

Aggregate capital and reserves

44,269

58,498

(Loss)/profit for the year

(18,831

)

23,335

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

1,200

1,229

Amounts owed by group undertakings

86,897

71,897

Other debtors

-

10,000

Tax

-

4,521

Prepayments

144

130

Interest receivable

16,201

11,712

104,442

99,489

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

230

6,976

Tax

180

-

Social security and other taxes

2,076

2,306

VAT

11,802

2,794

Other creditors

1,099

1,085

Directors' current accounts

606

2,635

Accrued expenses

14,897

19,831

30,890

35,627

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

1,000

Ordinary

£1

1,000

10.

RESERVES

Retained

Non-distributable

earnings

reserve

Totals

£

At 1 January 2024

1,324,073

460,766

1,784,839

Deficit for the year

(27,907

)

(27,907

)

Release of surplus depreciation on
revaluation of freehold property

2,424

(2,424

)

-

Deferred tax movement on
revaluation

(3,150

)

3,150

-

At 31 December 2024

1,295,440

461,492

1,756,932

The non-distributable reserve wholly relates to the surplus on revaluation of the freehold property.

11.	RELATED PARTY DISCLOSURES

The company provided management services to its subsidiary undertaking, Swindell Painting Limited, during the year in the amount of £73,800 (2023 £126,000). The net balance owed to the company by the subsidiary company, Swindell Painting Limited, as at 31st December 2024 was in the amount of £86,897 (2023 £71,897).

12.	ULTIMATE CONTROLLING PARTY

Mr M A and Mrs P J Swindell are the joint ultimate controlling parties of the company.