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

REGISTERED NUMBER: 04929027 (England and Wales)

Unaudited Financial Statements

for the Period

7 February 2018 to 5 February 2019

for

Franks Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Freedman

H A Sheldon

M G Sheldon

M Sheldon

S Sheldon

SECRETARY:

S D Freedman

REGISTERED OFFICE:

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

REGISTERED NUMBER:

04929027 (England and Wales)

ACCOUNTANTS:

CAAS

Chartered Accountants

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Investment property

4

1,374,000

1,374,000

CURRENT ASSETS

Debtors

5

31,736

365

Cash at bank

44,531

59,359

76,267

59,724

CREDITORS

Amounts falling due within one year

6

36,429

29,359

NET CURRENT ASSETS

39,838

30,365

TOTAL ASSETS LESS CURRENT LIABILITIES

1,413,838

1,404,365

PROVISIONS FOR LIABILITIES

7

111,304

142,879

NET ASSETS

1,302,534

1,261,486

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Non-distributable reserve

714,183

682,608

Retained earnings

568,351

558,878

1,302,534

1,261,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 February 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 February 2019 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 applicable to companies subject to the small companies regime.

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 5 November 2019 and were signed on its behalf by:

S D Freedman - Director

1.	STATUTORY INFORMATION

Franks 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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, and in accordance with the accounting policies set out below.

Turnover

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

tax and other sales taxes. Turnover is recognised over the period of rental.

Investment property

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", investment properties are included

at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the

rate expected to apply when the property is sold.

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 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 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.

Trade debtors

Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are

written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and

the amount can be reliably estimated. Provisions are not recognised for future operating losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2018 - 5 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 7 February 2018

and 5 February 2019

1,374,000

NET BOOK VALUE

At 5 February 2019

1,374,000

At 6 February 2018

1,374,000

Fair value at 5 February 2019 is represented by:

£

Valuation in 2011

501,487

Valuation in 2018

324,000

Cost

548,513

1,374,000

In the opinion of the directors, the market value of the property at the balance sheet date was £1,374,000 on an

open market basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.2.19

6.2.18

as restated

£

£

Trade debtors

300

365

Amounts owed by associates

30,000

-

Directors' current accounts

1,436

-

31,736

365

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.2.19

6.2.18

as restated

£

£

Tax

9,404

7,310

Social security and other taxes

1,739

583

Other creditors

8,813

8,813

Accruals and deferred income

16,473

12,653

36,429

29,359

7.	PROVISIONS FOR LIABILITIES

5.2.19

6.2.18

as restated

£

£

Deferred tax

111,304

142,879

Deferred

tax

£

Balance at 7 February 2018

142,879

Provided during period

(31,575

)

Balance at 5 February 2019

111,304

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 5 February 2019 and the year

ended 6 February 2018:

5.2.19

6.2.18

as restated

£

£

Directors

Balance outstanding at start of period

-

-

Amounts advanced

15,612

-

Amounts repaid

(14,176

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

1,436

-