Franklins of Corby Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04571453

FRANKLINS OF CORBY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 March 2025

FRANKLINS OF CORBY LIMITED

STATEMENT OF FINANCIAL POSITION

30 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		161		215

CURRENT ASSETS

Stocks		5,000	6,393
Debtors	7	6,212	7,956
Cash at bank and in hand		4,801	5,445
		--------	--------
		16,013	19,794

CREDITORS: amounts falling due within one year	8	15,262		18,862
		--------		--------
NET CURRENT ASSETS			751		932
			----		-------
TOTAL ASSETS LESS CURRENT LIABILITIES			912		1,147

CREDITORS: amounts falling due after more than one year	9	4,630	5,741
		-------	-------
NET LIABILITIES		( 3,718)	( 4,594)
		-------	-------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 3,818)	( 4,694)
	-------	-------
SHAREHOLDERS DEFICIT	( 3,718)	( 4,594)
	-------	-------

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 30 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 .

FRANKLINS OF CORBY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mr S Murdin

Director

Company registration number: 04571453

FRANKLINS OF CORBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England & Wales. The registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ. The trading address is 66/68 Rockingham Road, Corby, Northamptonshire, NN17 3DN.

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

Going concern

The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors and creditors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts 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 circumstances.

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

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

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	-	4 years

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.

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:

	Equipment	-	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.

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.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 31 March 2024 and 30 March 2025	33,000
	--------
Amortisation
At 31 March 2024 and 30 March 2025	33,000
	--------
Carrying amount
At 30 March 2025	–
	--------
At 30 March 2024	–
	--------

6. TANGIBLE ASSETS

	Plant and machinery
	£
Cost
At 31 March 2024 and 30 March 2025	2,324
	-------
Depreciation
At 31 March 2024	2,109
Charge for the year	54
	-------
At 30 March 2025	2,163
	-------
Carrying amount
At 30 March 2025	161
	-------
At 30 March 2024	215
	-------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	–	1,564
Other debtors	6,212	6,392
	-------	-------
	6,212	7,956
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,111	1,111
Trade creditors	2,381	2,579
Corporation tax	239	–
Social security and other taxes	3,989	5,916
Other creditors	7,542	9,256
	--------	--------
	15,262	18,862
	--------	--------

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

	2025	2024
	£	£
Bank loans and overdrafts	4,630	5,741
	-------	-------

10. OPERATING LEASES

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

	2025	2024
	£	£
Not later than 1 year	12,000	12,000
Later than 1 year and not later than 5 years	48,000	48,000
Later than 5 years	12,000	24,000
	--------	--------
	72,000	84,000
	--------	--------

11. GOING CONCERN

The directors have considered the period to 31 December 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.