Franks Holdings Limited - Accounts to registrar (filleted) - small 18.2
Franks Holdings Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 5 February 2020 |
| for |
| Franks Holdings Limited |
| Franks Holdings Limited (Registered number: 04929027) |
| Contents of the Financial Statements |
| for the Year Ended 5 February 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Franks Holdings Limited |
| Company Information |
| for the Year Ended 5 February 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Suite 203, Second Floor |
| China House |
| 401 Edgware Road |
| London |
| NW2 6GY |
| Franks Holdings Limited (Registered number: 04929027) |
| Balance Sheet |
| 5 February 2020 |
| 5.2.20 | 5.2.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve |
| Retained earnings |
| 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. |
| Franks Holdings Limited (Registered number: 04929027) |
| Balance Sheet - continued |
| 5 February 2020 |
| 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 and authorised for issue on |
| Franks Holdings Limited (Registered number: 04929027) |
| Notes to the Financial Statements |
| for the Year Ended 5 February 2020 |
| 1. | STATUTORY INFORMATION |
| Franks Holdings Limited is a |
| 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 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. |
| 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. |
| Franks Holdings Limited (Registered number: 04929027) |
| Notes to the Financial Statements - continued |
| for the Year Ended 5 February 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 6 February 2019 |
| and 5 February 2020 |
| NET BOOK VALUE |
| At 5 February 2020 |
| At 5 February 2019 |
| Fair value at 5 February 2020 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 |
| 5.2.20 | 5.2.19 |
| £ | £ |
| Trade debtors |
| Amounts owed by associates |
| Directors' current accounts | 2,396 | 1,436 |
| VAT |
| Franks Holdings Limited (Registered number: 04929027) |
| Notes to the Financial Statements - continued |
| for the Year Ended 5 February 2020 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 5.2.20 | 5.2.19 |
| £ | £ |
| Tax |
| Social security and other taxes |
| Other creditors |
| Deferred income |
| Accruals |
| 7. | PROVISIONS FOR LIABILITIES |
| 5.2.20 | 5.2.19 |
| £ | £ |
| Deferred tax | 111,304 | 111,304 |
| Deferred |
| tax |
| £ |
| Balance at 6 February 2019 |
| Balance at 5 February 2020 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the year ended 5 February 2020 and the period ended 5 February 2019: |
| 5.2.20 | 5.2.19 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Franks Holdings Limited (Registered number: 04929027) |
| Notes to the Financial Statements - continued |
| for the Year Ended 5 February 2020 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |