FRP Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06045584 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

FRP HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J H Garey

H J Garey

SECRETARY:

H J Garey

REGISTERED OFFICE:

23 Bull Plain

Hertford

Hertfordshire

SG14 1DX

REGISTERED NUMBER:

06045584 (England and Wales)

ACCOUNTANTS:

Wortons

Chartered Accountants

23 Bull Plain

Hertford

Hertfordshire

SG14 1DX

FIXED ASSETS

Investments

4

1,824,927

1,824,927

CURRENT ASSETS

Debtors

5

765,499

404,987

Cash at bank

3,913

116

769,412

405,103

CREDITORS

Amounts falling due within one year

6

73,992

81,550

NET CURRENT ASSETS

695,420

323,553

TOTAL ASSETS LESS CURRENT LIABILITIES

2,520,347

2,148,480

CREDITORS

Amounts falling due after more than one year

7

1,917,220

1,545,353

NET ASSETS

603,127

603,127

CAPITAL AND RESERVES

Called up share capital

300

300

Share premium

602,733

602,733

Retained earnings

94

94

SHAREHOLDERS' FUNDS

603,127

603,127

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 10 July 2019 and were signed on its behalf by:

J H Garey - Director

1.	STATUTORY INFORMATION

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

Preparation of consolidated financial statements

The financial statements contain information about FRP Holdings Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 399 of the Companies Act 2006 not to prepare consolidated financial statements as it is a small

company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

Taxation for the year 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 balance sheet date.

Deferred tax

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

sheet 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 year 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

1,824,927

NET BOOK VALUE

At 31 December 2018

1,824,927

At 31 December 2017

1,824,927

5.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

583,814

263,868

Amounts falling due after more than one year:

Other debtors

181,685

141,119

Aggregate amounts

765,499

404,987

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

57,000

69,000

Other creditors

9,897

9,811

Accrued expenses

7,095

2,739

73,992

81,550

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loan repayable in 2020

57,000

69,000

Bank loan repayable between

2021 and 2023

171,000

207,000

Bank loan over 5 years

repayable by instalments

1,689,220

1,269,353

1,917,220

1,545,353

2018

2017

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loan over 5 years

repayable by instalments

1,689,220

1,269,353

1,689,220

1,269,353

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

1,974,220

1,614,353

The bank loan is secured by a fixed and floating charge over the assets of the company. The loan is also secured

by a charge on the freehold and leasehold property and a fixed and floating charge over the assets of the

subsidiary, Findon Road Properties Limited.

9.	RELATED PARTY DISCLOSURES