Fraser Seaworks Ltd - Filleted accounts

Registered number

11854465

Fraser Seaworks Ltd

Filleted Accounts

31 March 2025

Fraser Seaworks Ltd
Registered number:		11854465
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		31,348			39,184

Current assets
Cash at bank and in hand		22,007			23,463

Creditors: amounts falling due within one year	4	(37,219)			(41,870)

Net current liabilities			(15,212)			(18,407)

Net assets			16,136			20,777

Capital and reserves
Called up share capital			4			4
Profit and loss account			16,132			20,773

Shareholder's funds			16,136			20,777

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr L Fraser
Director
Approved by the board on 12 December 2025

Fraser Seaworks Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

2	Employees		2025		2024
Number				Number

	Average number of persons employed by the company		1		1


3	Tangible fixed assets
					Motor vehicles
£
	Cost
	At 1 April 2024				48,980
	At 31 March 2025				48,980

	Depreciation
	At 1 April 2024				9,796
	Charge for the year				7,836
	At 31 March 2025				17,632

	Net book value
	At 31 March 2025				31,348
	At 31 March 2024				39,184


4	Creditors: amounts falling due within one year		2025		2024
£				£

	Obligations under finance lease and hire purchase contracts		23,388		31,184
	Taxation and social security costs		620		4,248
	Other creditors		13,211		6,438
			37,219		41,870


5	Other information

	Fraser Seaworks Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	270 Dorchester Road
	Weymouth
	DT3 5AR