Registration number: SC488715

Frank Green Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 6

Frank Green Limited

(Registration number: SC488715)
Statement of Financial Position as at 30 June 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	36,743	1,553
Current assets
Stocks	5	1,145,314	1,119,758
Debtors	6	150,307	287,943
Cash at bank and in hand		362,246	144,263
		1,657,867	1,551,964
Creditors: Amounts falling due within one year	7	(2,430,493)	(706,481)
Net current (liabilities)/assets		(772,626)	845,483
Net (liabilities)/assets		(735,883)	847,036
Capital and reserves
Called up share capital		1	1
Retained earnings		(735,884)	847,035
Shareholders' (deficit)/funds		(735,883)	847,036

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2025
 

......................................... Mr B Young Director

Frank Green Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
73 Union Street
Greenock
PA16 8BG
Scotland

These financial statements were authorised for issue by the director on 24 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The Board of directors of Frank Green Enterprises Pty Ltd, Frank Green Limited's parent entity, have proivided a letter of support. This reflects the financial support for the subsidiary.This covers a period of at least 12 months from the date of signing the financial statements.

Frank Green Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Audit report

The Independent Auditor's Report was qualified. We were not appointed as auditor of the company until after 30 June 2023 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 30 June 2023, which are included in the balance sheet at £1,119,758, by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount was necessary.

Furthermore, upon review of Frank Green Limited’s liabilities position at 30th June 2023, we were unable to obtain sufficient audit evidence to ensure that the accruals balance was not understated by a material amount, consequently we could not determine whether adjustments to the accruals opening balance might have been necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion..

The name of the Senior Statutory Auditor who signed the audit report on 24 September 2025 was Suzanne Lomax BA FCA, who signed for and on behalf of Beever and Struthers.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect theamounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstaces. Significant judgement There are no significant judgements made within the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

- Determination of recoverability of stock requires judgement. Management assesses stock items individually to determine whether they are held at the lower of cost and net realisable value. This involves estimates of future sales values, expected demand, and the condition and age of items. A write-down occurs where the estimated recoverable amount is lower than the carrying value.

- Trade receivables are recognised at transaction price less any provision. Provisions are made when the company makes an estimate for the recoverability of trade receivables and there is objective evidence that the company will not be able to collect all amounts due, considering the ageing of customer balances, historical collection rates and forward-looking factors.

Frank Green Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue at fullfillment of an order, when the risks and rewards of ownership transfer to the customer.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax assets are recognised on carried forward tax losses to the extent there are sufficient estimated future taxable profits and/or taxable temporary differences against which the tax losses can be utilised.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	25% Straight Line

Stocks

The cost of finished goods and work in progress comprises direct materials and, includes landed costs. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Frank Green Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 3).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2023	5,854	5,854
Additions	37,793	37,793
At 30 June 2024	43,647	43,647
Depreciation
At 1 July 2023	4,301	4,301
Charge for the year	2,603	2,603
At 30 June 2024	6,904	6,904
Carrying amount
At 30 June 2024	36,743	36,743
At 30 June 2023	1,553	1,553

5

Stocks

	2024 £	2023 £
Stock for Resale	1,145,314	1,119,758

6

Debtors

Current	2024 £	2023 £
Trade debtors	14,010	85,239
Prepayments	7,540	92,011
Other debtors	128,757	110,693
	150,307	287,943

Frank Green Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Trade creditors		28,574	229,439
Amounts owed to group undertakings		2,088,793	292,691
Taxation and social security		60,842	158,279
Accruals and deferred income		185,823	4,000
Other creditors		66,461	22,072
		2,430,493	706,481