Company No: 00618001 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.03.2025		31.03.2024
		£		£
Fixed assets
Tangible assets	3	213,454		214,330
Investments	4	4,000		4,000
		217,454		218,330
Current assets
Debtors	5	679,558		748,071
Cash at bank and in hand		17,415		8,338
		696,973		756,409
Creditors: amounts falling due within one year	6	( 90,279)		( 76,339)
Net current assets		606,694		680,070
Total assets less current liabilities		824,148		898,400
Creditors: amounts falling due after more than one year	7	( 596,263)		( 624,687)
Provision for liabilities		( 38,135)		( 38,135)
Net assets		189,750		235,578
Capital and reserves
Called-up share capital		3,100		3,100
Capital redemption reserve		1,900		1,900
Profit and loss account		184,750		230,578
Total shareholders' funds		189,750		235,578

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of J L Frampton & Sons (Spetisbury) Limited (registered number: 00618001) were approved and authorised for issue by the Board of Directors on 11 December 2025. They were signed on its behalf by:

Mrs M S Frampton Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

J L Frampton & Sons (Spetisbury) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Old Library Chambers, 21 Chipper Lane, Salisbury, Wiltshire, SP1 1BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Revenue is recognised when the rental of equipment is invoiced to third parties.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 % reducing balance
Plant and machinery	20 % reducing balance
Vehicles	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the Statement of Income and Retained Earnings.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

The company's investment relates to its capital account balance in the J L Frampton & Sons trading partnership, in which it is an active partner. The investment is stated at cost. The company's working capital and current account balances in the partnership are shown within debtors. The company's share of the partnership's profit for the year is shown within investment income.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	Year ended 31.03.2025		Period from 31.12.2022 to 31.03.2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 April 2024	110,886		560,243		0		671,129
Additions	0		11,000		37,000		48,000
At 31 March 2025	110,886		571,243		37,000		719,129
Accumulated depreciation
At 01 April 2024	107,482		349,317		0		456,799
Charge for the financial year	340		42,369		6,167		48,876
At 31 March 2025	107,822		391,686		6,167		505,675
Net book value
At 31 March 2025	3,064		179,557		30,833		213,454
At 31 March 2024	3,404		210,926		0		214,330
Leased assets included above:
Net book value
At 31 March 2025	0		76,371		30,833		107,204
At 31 March 2024	0		95,464		0		95,464

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	4,000		4,000
At 31 March 2025	4,000		4,000
Carrying value at 31 March 2025	4,000		4,000
Carrying value at 31 March 2024	4,000		4,000

5. Debtors

	31.03.2025		31.03.2024
	£		£
VAT recoverable	0		2,585
Corporation tax	3,494		3,494
Other debtors	676,064		741,992
	679,558		748,071

6. Creditors: amounts falling due within one year

	31.03.2025		31.03.2024
	£		£
Bank loans	44,505		43,189
Trade creditors	3,212		1,142
Accruals	5,527		5,263
Other taxation and social security	6,582		0
Obligations under finance leases and hire purchase contracts	30,453		26,745
	90,279		76,339

7. Creditors: amounts falling due after more than one year

	31.03.2025		31.03.2024
	£		£
Bank loans	564,018		574,172
Obligations under finance leases and hire purchase contracts	32,245		50,515
	596,263		624,687