Registration number: 01325773

Frenstar Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Frenstar Limited

Company Information

Director

Mr R F McIntyre

Company secretary

Mr M Kinoulty

Registered office

Office 7 35-37 Ludgate Hill London EC4M 7JN

Auditors

McKeague Morgan & Company Chartered Accountants & Statutory Auditors27 College Gardens Belfast BT9 6BS

Frenstar Limited

(Registration number: 01325773)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	21,410	27,898
Current assets
Stocks	6	508,881	479,786
Debtors	7	2,941,719	2,764,161
Cash at bank and in hand		495,476	822,284
		3,946,076	4,066,231
Creditors: Amounts falling due within one year	8	(1,757,889)	(2,120,984)
Net current assets		2,188,187	1,945,247
Net assets		2,209,597	1,973,145
Capital and reserves
Called up share capital		134	134
Profit and loss account		2,209,463	1,973,011
Total equity		2,209,597	1,973,145

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 30 July 2026
 

.........................................

Mr R F McIntyre
Director

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Office 7
35-37 Ludgate Hill
London
EC4M 7JN
England

The principal place of business is:
Unit 6
Westbank Business Park
1 West Bank Drive
Belfast
Co Antrim
BT3 9LA
Northern Ireland

These financial statements were authorised for issue by the director on 30 July 2026.

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.

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 July 2026 was Mr Darren McKeown, who signed for and on behalf of McKeague Morgan & Company.

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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
Fixtures and fittings	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 6).

4	Auditors' remuneration

	2025 £	2024 £
Audit of the financial statements	5,150	4,250

 

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

5	Tangible assets

	Fixtures and fittings  £	Total £
Cost or valuation
At 1 November 2024	65,207	65,207
Additions	2,105	2,105
At 31 October 2025	67,312	67,312
Depreciation
At 1 November 2024	37,309	37,309
Charge for the year	8,593	8,593
At 31 October 2025	45,902	45,902
Carrying amount
At 31 October 2025	21,410	21,410
At 31 October 2024	27,898	27,898

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	508,881	479,786

7

Debtors

	Note	2025 £	2024 £
Trade debtors		418,287	891,853
Amounts owed by group undertakings	10	1,401,287	-
Prepayments and accrued income		25,127	16,629
Other debtors		1,097,018	1,855,679
		2,941,719	2,764,161

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

8

Creditors

	Note	2025 £	2024 £
Due within one year
Trade creditors		134,635	72,279
Amounts owed to group undertakings	10	1,332,422	1,690,756
Taxation and social security		30,507	100,983
Accruals and deferred income		260,325	256,966
		1,757,889	2,120,984

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	134	134	134	134

10	Related party transactions

The company is exempt from disclosing related party transactions with group companies as they are all wholly owned within the Moneygran Holdings Limited group.

Summary of transactions with other related parties

During the year, the company entered into transactions with related party companies which are not members of the group. Mr R F McIntyre is a shareholder and director with each related party. The company paid costs to these related parties totalling £7,700 (2024 - £Nil).

Frenstar Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

10	Related party transactions (continued)

Loans to related parties

2025	Other related parties £
At start of period	690,794
At end of period	690,794

2024	Other related parties £
At start of period	-
Advanced	695,000
Repaid	(4,206)
At end of period	690,794

Terms of loans to related parties

Loans with related parties are interest-free and repayable on demand.

11	Parent and ultimate parent undertaking

The company's immediate parent is Moneygran Holdings Limited, incorporated in N Ireland.

 The ultimate controlling party is Mr R F McIntyre.

The parent of the largest group in which these financial statements are consolidated is Moneygran Holdings Limited, incorporated in Northern Ireland.

The address of Moneygran Holdings Limited is:
14 Drumagarner Road
Kilrea
Coleraine
Northern Ireland
BT51 5TB