Framewerks Picture Framing Ltd

Registered number

07036134

Filleted Accounts

31 March 2026

Framewerks Picture Framing Ltd
Registered number:		07036134
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	4		1			1

Current assets
Stocks		18,728			18,728
Debtors	5	18,652			4,561
Cash at bank and in hand		50			50
		37,430			23,339

Creditors: amounts falling due within one year	6	(16,665)			2,042

Net current assets			20,765			25,381

Total assets less current liabilities			20,766			25,382

Creditors: amounts falling due after more than one year	7		(8,005)			(14,398)



Net assets			12,761			10,984

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			11,761			9,984

Shareholders' funds			12,761			10,984

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Mrs. S. Fricker
Director
Approved by the board on 30 September 2026

Framewerks Picture Framing Ltd
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Plant and machinery	20% Straight line
	Fixtures, fittings, tools and equipment	20% Straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees		2026		2025
Number				Number

	Average number of persons employed by the company		2		2


3	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 April 2025				18,000
	At 31 March 2026				18,000

	Amortisation
	At 1 April 2025				18,000
	At 31 March 2026				18,000

	Net book value
	At 31 March 2026				-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.


4	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2025				18,168
	At 31 March 2026				18,168

	Depreciation
	At 1 April 2025				18,167
	At 31 March 2026				18,167

	Net book value
	At 31 March 2026				1
	At 31 March 2025				1


5	Debtors		2026		2025
£				£

	Trade debtors		17,639		3,548
	Other debtors		1,013		1,013
			18,652		4,561


6	Creditors: amounts falling due within one year		2026		2025
£				£

	Bank loans and overdrafts		10,870		10,280
	Trade creditors		12,539		10,142
	Taxation and social security costs		6,533		1,416
	Other creditors		(13,277)		(23,880)
			16,665		(2,042)


7	Creditors: amounts falling due after one year		2026		2025
£				£

	Bank loans		8,005		14,398


8	Controlling party

	The company is ultimately controlled by Mr. D. Fricker & Mrs. S. Fricker who each hold 50% of the shareholdings


9	Other information

	Framewerks Picture Framing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit C3
	The Seedbed Centre
	Colchester
	Essex
	CO4 9HT