Henson Franklyn Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07534266

Henson Franklyn Limited

Filleted Unaudited Financial Statements

For the year ended

31 March 2025

Henson Franklyn Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	5	7,500	123,770
Tangible assets	6	263,188	296,280
		----------	----------
		270,688	420,050

Current assets

Stocks		64,158	66,395
Debtors	7	1,318,195	945,731
Cash at bank and in hand		683,765	709,660
		-------------	-------------
		2,066,118	1,721,786

Creditors: amounts falling due within one year	8	1,681,621	1,344,436
		-------------	-------------
Net current assets		384,497	377,350
		----------	----------
Total assets less current liabilities		655,185	797,400

Creditors: amounts falling due after more than one year	9	104,095	214,432

Provisions

Taxation including deferred tax	35,758	42,614
	----------	----------
Net assets	515,332	540,354
	----------	----------

Capital and reserves

Called up share capital	2,525	2,525
Profit and loss account	512,807	537,829
	----------	----------
Shareholders funds	515,332	540,354
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Henson Franklyn Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 1 December 2025 , and are signed on behalf of the board by:

T J Henson
Director

Company registration number: 07534266

Henson Franklyn Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Firs Stables, Torksey, Lincoln, LN1 2ED.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date. Software development relates to a project which is ongoing at the year end.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	10% straight line
Product Development	-	33% straight line
Software development	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	10% reducing balance
Plant & Machinery	-	20% straight line
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 28 (2024: 25 ).

5. Intangible assets

	Goodwill	Development costs	Software development	Total
	£	£	£	£
Cost
At 1 April 2024	500,000	26,350	123,770	650,120
Additions	–	–	7,500	7,500
Other movements	–	–	( 13,611)	( 13,611)
	----------	---------	----------	----------
At 31 March 2025	500,000	26,350	117,659	644,009
	----------	---------	----------	----------
Amortisation
At 1 April 2024	500,000	26,350	–	526,350
Charge for the year	–	–	123,770	123,770
Other movements	–	–	( 13,611)	( 13,611)
	----------	---------	----------	----------
At 31 March 2025	500,000	26,350	110,159	636,509
	----------	---------	----------	----------
Carrying amount
At 31 March 2025	–	–	7,500	7,500
	----------	---------	----------	----------
At 31 March 2024	–	–	123,770	123,770
	----------	---------	----------	----------

6. Tangible assets

	Leasehold property	Plant and machinery	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	215,869	467,444	3,297	686,610
Additions	6,146	20,363	–	26,509
	----------	----------	-------	----------
At 31 March 2025	222,015	487,807	3,297	713,119
	----------	----------	-------	----------
Depreciation
At 1 April 2024	109,644	277,923	2,763	390,330
Charge for the year	10,777	48,687	137	59,601
	----------	----------	-------	----------
At 31 March 2025	120,421	326,610	2,900	449,931
	----------	----------	-------	----------
Carrying amount
At 31 March 2025	101,594	161,197	397	263,188
	----------	----------	-------	----------
At 31 March 2024	106,225	189,521	534	296,280
	----------	----------	-------	----------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,117,289	808,373
Other debtors	200,906	137,358
	-------------	----------
	1,318,195	945,731
	-------------	----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	111,737	111,406
Trade creditors	679,074	406,262
Corporation tax	96,460	58,639
Social security and other taxes	139,281	136,198
Other creditors	655,069	631,931
	-------------	-------------
	1,681,621	1,344,436
	-------------	-------------

The bank borrowing is secured on the assets of the company.

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

	2025	2024
	£	£
Bank loans and overdrafts	104,095	214,432
	----------	----------

The bank borrowing is secured on the assets of the company.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	184,775	165,978
Later than 1 year and not later than 5 years	362,300	482,633
	----------	----------
	547,075	648,611
	----------	----------

11. Directors' advances, credits and guarantees

Director T J Henson was owed £98 by the company as at the 2025 year end (£5,271 owed to the company at the 2024 year end). The amount fluctuates throughout the year and is repayable on demand and no interest is charged. Director T J Henson has personally guaranteed the company's borrowings from NatWest Bank.

12. Related party transactions

The Company also carried out transactions with TJH (Events) Limited during the year. T J Henson is a director and shareholder of this Company. The Company made purchases of £130,573 (2024: £129,719). There was £Nil outstanding at the year end. All of the above transactions were completed on a normal commercial basis.

13. Controlling party

The company's ultimate parent company is Bodyclose Holdings Limited , a company registered in England and Wales. Copies of the financial statements of Bodyclose Holdings Limited are available from Bodyclose Holdings Limited, The Firs Stables, Sand Lane, Torksey, Lincoln LN1 2ED.