Frames by Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08189153 (England and Wales)

FRAMES BY DESIGN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2017 TO 31 OCTOBER 2018

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr D Feather

Mrs G Feather

REGISTERED OFFICE:

15 & 17 Church Street

Stourbridge

West Midlands

DY8 1LU

BUSINESS ADDRESS:

Cross House

Mamble

Kidderminster

Worcestershire

DY14 9JL

REGISTERED NUMBER:

08189153 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of

Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report

of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Frames by Design Limited for the period ended 31 October 2018 which comprise the Income Statement, Statement of

Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Frames by Design Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Frames by Design Limited and state those matters that we have agreed to state to the Board of Directors of Frames by Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frames by Design Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Frames by Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frames by Design Limited. You consider that Frames by Design Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Frames by Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

14 February 2019

FIXED ASSETS

Intangible assets

4

-

13,000

Tangible assets

5

-

6,716

-

19,716

CURRENT ASSETS

Debtors

6

11,439

-

Cash at bank and in hand

7,723

20,864

19,162

20,864

CREDITORS

Amounts falling due within one year

7

8,464

23,913

NET CURRENT ASSETS/(LIABILITIES)

10,698

(3,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,698

16,667

PROVISIONS FOR LIABILITIES

1,276

1,276

NET ASSETS

9,422

15,391

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

9,420

15,389

SHAREHOLDERS' FUNDS

9,422

15,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 14 February 2019 and were signed on its behalf by:

Mr D Feather - Director

1.	STATUTORY INFORMATION

Frames by Design Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net sales of goods/services, excluding value added tax

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is not currently being amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

13,000

Disposals

(13,000

)

At 31 October 2018

-

NET BOOK VALUE

At 31 October 2018

-

At 31 August 2017

13,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 September 2017

10,153

476

10,629

Disposals

(10,153

)

(476

)

(10,629

)

At 31 October 2018

-

-

-

DEPRECIATION

At 1 September 2017

3,592

321

3,913

Eliminated on disposal

(3,592

)

(321

)

(3,913

)

At 31 October 2018

-

-

-

NET BOOK VALUE

At 31 October 2018

-

-

-

At 31 August 2017

6,561

155

6,716

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

11,439

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

766

Taxation and social security

6,148

13,936

Other creditors

2,316

9,211

8,464

23,913

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 October 2018 and the year ended

31 August 2017:

2018

2017

£

£

Mr D Feather

Balance outstanding at start of period

-

-

Amounts advanced

11,439

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

11,439

-

9.	ULTIMATE CONTROLLING PARTY

The control of the company is exercised by Mr. D. & Mrs. G. Feather by virtue of their shareholdings.