Frankham Consultancy Group Limited - Limited company accounts 22.3
Frankham Consultancy Group Limited - Limited company accounts 22.3
| REGISTERED NUMBER: 04409614 (England and Wales) |
| GROUP STRATEGIC REPORT, |
| REPORT OF THE DIRECTORS AND |
| CONSOLIDATED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| FRANKHAM CONSULTANCY GROUP LIMITED |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Operating and Financial Review | 2 |
| Group Strategic Report | 3 |
| Report of the Directors | 5 |
| Report of the Independent Auditors | 7 |
| Consolidated Income Statement | 10 |
| Consolidated Other Comprehensive Income | 11 |
| Consolidated Balance Sheet | 12 |
| Company Balance Sheet | 14 |
| Consolidated Statement of Changes in Equity | 15 |
| Company Statement of Changes in Equity | 16 |
| Consolidated Cash Flow Statement | 17 |
| Notes to the Consolidated Cash Flow Statement | 18 |
| Notes to the Consolidated Financial Statements | 20 |
| FRANKHAM CONSULTANCY GROUP LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 March 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & Statutory Auditors |
| Leonard House |
| 5 - 7 Newman Road |
| Bromley |
| Kent |
| BR1 1RJ |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| OPERATING AND FINANCIAL REVIEW |
| For The Year Ended 31 March 2022 |
| The 2022 financial year was a strong and profitable year for the Frankham Group of companies, both in terms of financial and project delivery performance. We have seen growth in all the Frankham companies and have enjoyed a robust performance during the period. |
| The Group has reported a consolidated Turnover of £16m for 2022 , an increase of 32% on 2021. On this Turnover we generated a profit of £1.25m , an increase of 171% from last year (£464k : 2021). |
| The following is a summary of the results of our Group companies: |
| Frankham Consultancy Group Limited provides the following services: Architectural, Structural and Civil Engineering Consultancy, Project Management, Building and Quantity Surveying, Mechanical and Engineering design, Master Planning and CDM. |
| Turnover in 2022 was £11.5m compared to £9m in 2021, an increase of 28%. Profits before tax rose from £133k in 2021 to £1m in 2022. |
| Frankham Risk Management Services Limited provides the following services: Asbestos Risk, Business Continuity, Commercial performance, Gas and Electrical Risk, Strategic Risk, Water Risk Management and Fire Consultancy, Fire Risk Assessment, and Occupational Health and Safety. |
| Turnover in 2022 was £3.4m in 2022 compared to £2.6m in 2021, an increase of 30%. Profit before tax rose by 192% from £153K in 2021 to £447 in 2022. |
| Frankham Projects Limited provides the following services: Development Consultancy and Management and Town Planning. |
| Turnover in 2022 was £618K compared to £640K in 2021, a reduction of 3%. However, profits before tax rose 25% from £84K in 2021 to £105K in 2022. |
| Lane and Frankham Limited provides the following services: Area Referencing and Property Management, Building Measurement, BIM Ready Surveys, Land Surveys and Site Investigations. |
| Turnover in 2022 was £1.9M compared to £1.36M in 2021, an increase of 40%. Profits before tax rose by 168% from £100K in 2021 to £268K in 2022. |
| Robson Frankham Limited provides the following services: Fire Engineering, Design Analysis, External wall surveys, Fire Safety Site Inspections and Fire Strategies. |
| Turnover in 2022 was £732K compared to £377K in 2021, an increase of 94%. Profits before tax rose by 141% from £118K in 2021 to £285K in 2022. |
| We are budgeting to increase our turnover by 11.5% this current financial year and our monthly management accounts are reflecting this continued growth and we are confident of achieving our forecast numbers. |
| Our Cash position remained strong throughout the year, closing the year at £1.7m (2021: £784K). This is a reflection of our internal strong cash management and continued focus on managing our working capital and debtor book. The Group continues to be in a strong cash position. |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| GROUP STRATEGIC REPORT |
| For The Year Ended 31 March 2022 |
| The directors present their strategic report of the company and the group for the year ended 31 March 2022. |
| REVIEW OF BUSINESS |
| Frankham Consultancy Group provides a full range of surveying, design, engineering and consultancy services to the built environment. We provide the majority of the core professional disciplines together with a number of specialist services to support all aspects of developing, constructing, upgrading and maintaining property assets over a very diverse client base in both the public and private sectors. |
| We consider our key performance indicators to be turnover, profitability and cash reserves. 2021/22 was a successful year for the business exceeding our expectations. When setting our business plan before the start of the year, Covid uncertainty was still prevalent but there were positive signs that we would be able to continue to work and grow following a Covid restricted year in 20/21. Our business plan included growth but took into account that uncertainty. The year grew stronger as it went on with both existing and new clients providing a strong demand for our services. We exceeded our business plan and achieved a very positive year with consolidated turnover up nearly £4m , an increase of over 30% on the previous year, with a greater improvement in profitability to £1.25m an increase of 171% on the previous Covid affected year. |
| One key aspect during the year was our success in securing the Southern Civils Examinations Contract with Network Rail which mobilised in the second half of the year and increased revenue not included in the business plan. The majority of Group teams achieved strong results as did all our specialist subsidiaries. It was the first full year of trading for our new Fire Engineering Subsidiary Robson Frankham which experienced exceptionally high demand and a very strong first year. |
| The Group continues to be seen as a market leader in many of the areas we work. One key growth area has been in fire related consultancy following the tragic fire at Grenfell. Many businesses have avoided work in this area due to perceived risk, but we see our skilled professional as a key part of the solution with our specialist services employed to inspect and report on issues, design and manage the remediation solutions as well as carrying out the regulatory requirements such as Fire Risk Assessments. |
| Moving into 22/23, the Group are planning to achieve further growth in turnover of 11.5% with a further improvement in profitability. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal limiting factor on our sector has been the availability of skilled resources. However, we have managed this effectively and have grown our direct staff by 8.5% across the year together with a larger increase in our supply chain. |
| RESERVES |
| Retained reserves of £2,281,339 at the year end indicated an increase of 38% compared with the previous year. |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| GROUP STRATEGIC REPORT |
| For The Year Ended 31 March 2022 |
| CASH FLOW AND LIQUIDITY |
| Cashflow was in line with expectations, with a net increase in cash of £956,454. The group has maintained its liquidity in line with expectations resulting in the net current assets ratio being 1.46 as at the year end. |
| ON BEHALF OF THE BOARD: |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| REPORT OF THE DIRECTORS |
| For The Year Ended 31 March 2022 |
| The directors present their report with the financial statements of the company and the group for the year ended 31 March 2022. |
| DIVIDENDS |
| A dividend of £334,000 was paid on the Ordinary £1 shares throughout the year to 31st March 2022. |
| DIRECTORS |
| The directors during the year under review were: |
| S J Frankham |
| R J Chitty |
| GOING CONCERN |
| In the light of current events regarding the COVID-19 pandemic, the directors have considered and have satisfied themselves that the company will continue to be a going concern for the foreseeable future. This is in addition to the steps taken in note 2. |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| REPORT OF THE DIRECTORS |
| For The Year Ended 31 March 2022 |
| AUDITORS |
| The auditors, Crane & Partners, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| FRANKHAM CONSULTANCY GROUP LIMITED |
| Opinion |
| We have audited the financial statements of Frankham Consultancy Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2022 and of the group's profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Annual Report, but does not include the financial statements and our Report of the Auditors thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| FRANKHAM CONSULTANCY GROUP LIMITED |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the parent company financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so. |
| REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
| FRANKHAM CONSULTANCY GROUP LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| Based on our understanding of the group and parent company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to those laws which have a direct impact on the preparation of the financial statements, such as the Companies Act 2006 and tax legislation. |
| We evaluated management's opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to manipulate financial results and potential management bias towards accounting estimates. |
| Audit procedures included discussions with management, challenging assumptions made by management in their significant accounting estimates, and identifying and testing journal entries posted with unusual account combinations. |
| There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material fraud is higher than the risk of not detecting one resulting from error, as fraud may be deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Chartered Accountants & Statutory Auditors |
| Leonard House |
| 5 - 7 Newman Road |
| Bromley |
| Kent |
| BR1 1RJ |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED INCOME STATEMENT |
| For The Year Ended 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ |
| TURNOVER | 16,051,121 | 12,171,641 |
| Cost of sales | 9,186,101 | 7,194,439 |
| GROSS PROFIT | 6,865,020 | 4,977,202 |
| Administrative expenses | 5,175,443 | 4,680,624 |
| 1,689,577 | 296,578 |
| Other operating income | 9,031 | 339,574 |
| OPERATING PROFIT | 4 | 1,698,608 | 636,152 |
| Interest receivable and similar income | 720 | 47 |
| 1,699,328 | 636,199 |
| Interest payable and similar expenses | 5 | 49,230 | 74,301 |
| PROFIT BEFORE TAXATION | 1,650,098 | 561,898 |
| Tax on profit | 6 | 392,556 | 98,235 |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 962,830 | 339,903 |
| Non-controlling interests | 294,712 | 123,760 |
| 1,257,542 | 463,663 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED OTHER COMPREHENSIVE INCOME |
| For The Year Ended 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 1,257,542 | 463,663 |
| OTHER COMPREHENSIVE INCOME |
| Purchase of own shares | - | (47,640 | ) |
| Income tax relating to other comprehensive income |
- |
- |
| OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX |
- |
(47,640 |
) |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,257,542 |
416,023 |
| Total comprehensive income attributable to: |
| Owners of the parent | 1,200,330 | 386,335 |
| Non-controlling interests | 57,212 | 29,688 |
| 1,257,542 | 416,023 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED BALANCE SHEET |
| 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 | 185,122 | 369,608 |
| Tangible assets | 11 | 523,381 | 702,179 |
| Investments | 12 | - | - |
| 708,503 | 1,071,787 |
| CURRENT ASSETS |
| Debtors | 13 | 4,995,846 | 4,747,770 |
| Cash at bank | 1,740,271 | 783,817 |
| 6,736,117 | 5,531,587 |
| CREDITORS |
| Amounts falling due within one year | 14 | 4,616,038 | 4,457,815 |
| NET CURRENT ASSETS | 2,120,079 | 1,073,772 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
2,828,582 |
2,145,559 |
| CREDITORS |
| Amounts falling due after more than one year |
15 |
(72,088 |
) |
(137,624 |
) |
| PROVISIONS FOR LIABILITIES | 17 | (74,120 | ) | (11,603 | ) |
| NET ASSETS | 2,682,374 | 1,996,332 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED BALANCE SHEET - continued |
| 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 18 | 97,265 | 97,265 |
| Capital redemption reserve | 19 | 2,735 | 2,735 |
| Retained earnings | 19 | 2,281,339 | 1,652,509 |
| SHAREHOLDERS' FUNDS | 2,381,339 | 1,752,509 |
| NON-CONTROLLING INTERESTS | 20 | 301,035 | 243,823 |
| TOTAL EQUITY | 2,682,374 | 1,996,332 |
| The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2022 and were signed on its behalf by: |
| S J Frankham - Director |
| R J Chitty - Director |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| COMPANY BALANCE SHEET |
| 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 10 |
| Tangible assets | 11 |
| Investments | 12 |
| CURRENT ASSETS |
| Debtors | 13 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 14 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
15 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 17 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 18 |
| Capital redemption reserve | 19 |
| Retained earnings | 19 |
| SHAREHOLDERS' FUNDS |
| Company's profit for the financial year | 889,468 | 132,750 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
| For The Year Ended 31 March 2022 |
| Called up | Capital |
| share | Retained | redemption |
| capital | earnings | reserve |
| £ | £ | £ |
| Balance at 1 April 2020 | 99,250 | 1,446,231 | 750 |
| Changes in equity |
| Issue of share capital | (1,985 | ) | - | - |
| Dividends | - | (84,000 | ) | - |
| Total comprehensive income | - | 290,278 | 1,985 |
| Balance at 31 March 2021 | 97,265 | 1,652,509 | 2,735 |
| Changes in equity |
| Dividends | - | (334,000 | ) | - |
| Total comprehensive income | - | 962,830 | - |
| Balance at 31 March 2022 | 97,265 | 2,281,339 | 2,735 |
| Non-controlling | Total |
| Total | interests | equity |
| £ | £ | £ |
| Balance at 1 April 2020 | 1,546,231 | 214,135 | 1,760,366 |
| Changes in equity |
| Issue of share capital | (1,985 | ) | - | (1,985 | ) |
| Dividends | (84,000 | ) | - | (84,000 | ) |
| Total comprehensive income | 292,263 | 29,688 | 321,951 |
| Balance at 31 March 2021 | 1,752,509 | 243,823 | 1,996,332 |
| Changes in equity |
| Dividends | (334,000 | ) | - | (334,000 | ) |
| Total comprehensive income | 962,830 | 57,212 | 1,020,042 |
| Balance at 31 March 2022 | 2,381,339 | 301,035 | 2,682,374 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| COMPANY STATEMENT OF CHANGES IN EQUITY |
| For The Year Ended 31 March 2022 |
| Called up | Capital |
| share | Retained | redemption | Total |
| capital | earnings | reserve | equity |
| £ | £ | £ | £ |
| Balance at 1 April 2020 |
| Changes in equity |
| Issue of share capital | ( |
) | - | - | ( |
) |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 31 March 2021 |
| Changes in equity |
| Dividends | - | ( |
) | - | ( |
) |
| Total comprehensive income | - |
| Balance at 31 March 2022 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| CONSOLIDATED CASH FLOW STATEMENT |
| For The Year Ended 31 March 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 1,734,082 | 2,155,638 |
| Interest paid | (49,230 | ) | (74,301 | ) |
| Tax paid | (81,990 | ) | (133,003 | ) |
| Net cash from operating activities | 1,602,862 | 1,948,334 |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | - | (208,299 | ) |
| Purchase of tangible fixed assets | (106,487 | ) | (66,022 | ) |
| Sale of tangible fixed assets | - | 11,997 |
| Interest received | 720 | 47 |
| Net cash from investing activities | (105,767 | ) | (262,277 | ) |
| Cash flows from financing activities |
| Capital repayments in year | (83,891 | ) | (151,198 | ) |
| Amount introduced by directors | 114,750 | 98,500 |
| Purchase of own shares | - | (49,625 | ) |
| Equity dividends paid | (334,000 | ) | (84,000 | ) |
| Dividends paid to minority interests | (237,500 | ) | (98,000 | ) |
| Net cash from financing activities | (540,641 | ) | (284,323 | ) |
| Increase in cash and cash equivalents | 956,454 | 1,401,734 |
| Cash and cash equivalents at beginning of year |
2 |
783,817 |
(617,917 |
) |
| Cash and cash equivalents at end of year |
2 |
1,740,271 |
783,817 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| For The Year Ended 31 March 2022 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Profit before taxation | 1,650,098 | 561,898 |
| Depreciation charges | 469,772 | 391,433 |
| Loss on disposal of fixed assets | - | 454 |
| Finance costs | 49,230 | 74,301 |
| Finance income | (720 | ) | (47 | ) |
| 2,168,380 | 1,028,039 |
| (Increase)/decrease in trade and other debtors | (248,077 | ) | 787,608 |
| (Decrease)/increase in trade and other creditors | (186,221 | ) | 339,991 |
| Cash generated from operations | 1,734,082 | 2,155,638 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 March 2022 |
| 31.3.22 | 1.4.21 |
| £ | £ |
| Cash and cash equivalents | 1,740,271 | 783,817 |
| Year ended 31 March 2021 |
| 31.3.21 | 1.4.20 |
| as restated |
| £ | £ |
| Cash and cash equivalents | 783,817 | 37,402 |
| Bank overdrafts | - | (655,319 | ) |
| 783,817 | (617,917 | ) |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT |
| For The Year Ended 31 March 2022 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.4.21 | Cash flow | At 31.3.22 |
| £ | £ | £ |
| Net cash |
| Cash at bank | 783,817 | 956,454 | 1,740,271 |
| 783,817 | 956,454 | 1,740,271 |
| Debt |
| Finance leases | (221,515 | ) | 83,891 | (137,624 | ) |
| (221,515 | ) | 83,891 | (137,624 | ) |
| Total | 562,302 | 1,040,345 | 1,602,647 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
| For The Year Ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Frankham Consultancy Group Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
| Goodwill |
| Acquired goodwill is written off in equal instalments over its estimated useful economic life. |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The pension costs charged in the financial statements represent the contributions payable by the company during the year in accordance with FRS 17. |
| Revenue recognition |
| Amounts recoverable on long term contracts, which are included in debtors as accrued income, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. |
| Excess progress payments are included in creditors as deferred income. |
| Going concern |
| The financial statements have been prepared on a going concern basis, which is dependant on the continued support of the ultimate parent undertaking and its directors who have indicated their willingness to support the company for the foreseeable future. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Wages and salaries | 8,225,615 | 7,309,269 |
| Other pension costs | 242,875 | 177,498 |
| 8,468,490 | 7,486,767 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 3. | EMPLOYEES AND DIRECTORS - continued |
| The average number of employees during the year was as follows: |
| 2022 | 2021 |
| as restated |
| The average number of employees by undertakings that were proportionately consolidated during the year was 153 (2021 - 144 ) . |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Directors' remuneration | 169,315 | 120,540 |
| Directors' pension contributions to money purchase schemes | 50,304 | 24,972 |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Hire of plant and machinery | 90,181 | 133,128 |
| Other operating leases | 299,604 | 344,796 |
| Depreciation - owned assets | 240,957 | 158,320 |
| Depreciation - assets on hire purchase contracts | 44,328 | 68,704 |
| Loss on disposal of fixed assets | - | 454 |
| Goodwill amortisation | 163,656 | 143,580 |
| Computer software amortisation | 20,830 | 20,830 |
| Auditors' remuneration | 32,770 | 24,935 |
| 5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Bank interest | 10,820 | 26,736 |
| Other interest paid | 38,410 | 47,565 |
| 49,230 | 74,301 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 6. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Current tax: |
| UK corporation tax | 330,039 | 106,483 |
| Deferred tax | 62,517 | (8,248 | ) |
| Tax on profit | 392,556 | 98,235 |
| UK corporation tax was charged at 19 %) in 2021. |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Profit before tax | 1,650,098 | 561,898 |
| Profit multiplied by the standard rate of corporation tax in the UK of 19 % (2021 - 19 %) |
313,519 |
106,761 |
| Effects of: |
| Expenses not deductible for tax purposes | 5,040 | 195 |
| Depreciation in excess of capital allowances | 41,823 | 63,440 |
| Utilisation of tax losses | (46,607 | ) | (41,588 | ) |
| Deferred tax | 62,517 | (8,248 | ) |
| Amounts written off investments | 16,264 | (22,325 | ) |
| Total tax charge | 392,556 | 98,235 |
| Tax effects relating to effects of other comprehensive income |
| There were no tax effects for the year ended 31 March 2022. |
| 2021 |
| Gross | Tax | Net |
| £ | £ | £ |
| Purchase of own shares | (47,640 | ) | - | (47,640 | ) |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 7. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 8. | DIVIDENDS |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Ordinary shares of £1 each |
| Interim | 334,000 | 84,000 |
| 9. | PRIOR YEAR ADJUSTMENT |
| The accounts have been restated to incorporate the impact of a missclassification of specific intercompany transactions. This has resulted in both sales and cost of sales being increased by £1,172,689. There has been no change in reported profit. |
| 10. | INTANGIBLE FIXED ASSETS |
| Group |
| Computer |
| Goodwill | software | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 | 2,984,538 | 208,299 | 3,192,837 |
| AMORTISATION |
| At 1 April 2021 | 2,802,399 | 20,830 | 2,823,229 |
| Amortisation for year | 163,656 | 20,830 | 184,486 |
| At 31 March 2022 | 2,966,055 | 41,660 | 3,007,715 |
| NET BOOK VALUE |
| At 31 March 2022 | 18,483 | 166,639 | 185,122 |
| At 31 March 2021 | 182,139 | 187,469 | 369,608 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 10. | INTANGIBLE FIXED ASSETS - continued |
| Company |
| Computer |
| Goodwill | software | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| AMORTISATION |
| At 1 April 2021 |
| Amortisation for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 11. | TANGIBLE FIXED ASSETS |
| Group |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2021 | 2,724,733 | 11,618 | 43,258 | 2,779,609 |
| Additions | 104,975 | - | 1,512 | 106,487 |
| Disposals | (13,926 | ) | (11,618 | ) | (5,172 | ) | (30,716 | ) |
| At 31 March 2022 | 2,815,782 | - | 39,598 | 2,855,380 |
| DEPRECIATION |
| At 1 April 2021 | 2,033,552 | 11,618 | 32,260 | 2,077,430 |
| Charge for year | 253,485 | - | 31,800 | 285,285 |
| Eliminated on disposal | (13,926 | ) | (11,618 | ) | (5,172 | ) | (30,716 | ) |
| At 31 March 2022 | 2,273,111 | - | 58,888 | 2,331,999 |
| NET BOOK VALUE |
| At 31 March 2022 | 542,671 | - | (19,290 | ) | 523,381 |
| At 31 March 2021 | 691,181 | - | 10,998 | 702,179 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 11. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2021 | 318,334 |
| Transfer to ownership | (50,169 | ) |
| At 31 March 2022 | 268,165 |
| DEPRECIATION |
| At 1 April 2021 | 108,466 |
| Charge for year | 44,328 |
| Transfer to ownership | (21,096 | ) |
| At 31 March 2022 | 131,698 |
| NET BOOK VALUE |
| At 31 March 2022 | 136,467 |
| At 31 March 2021 | 209,868 |
| Company |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 11. | TANGIBLE FIXED ASSETS - continued |
| Company |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 April 2021 |
| Transfer to ownership | (50,169 | ) |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| Transfer to ownership | (21,096 | ) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 12. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| PROVISIONS |
| At 1 April 2021 | 1,302,226 |
| Provision for year | 69,452 |
| At 31 March 2022 | 1,371,678 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 12. | FIXED ASSET INVESTMENTS - continued |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiaries |
| Registered office: Irene House, 7b five Arches Business Park, Maidstone Road, Sidcup DA14 5AE |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Registered office: Irene House, 7b five Arches Business Park, Maidstone Road, Sidcup DA14 5AE |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| Registered office: Irene House, 7b five Arches Business Park, Maidstone Road, Sidcup DA14 5AE |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 12. | FIXED ASSET INVESTMENTS - continued |
| Camsoft Limited |
| Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE |
| Nature of business: Building development |
| % |
| Class of shares: | holding |
| Ordinary | 75.00 |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves | (44,720 | ) | (69,044 | ) |
| Profit for the year | 24,324 | 25,407 |
| This entity is 100% owned by Frankham Risk Management Services Limited. |
| Robson Frankham Limited |
| Registered office: Irene House, 7b Five Arches Business Park, Maidstone Road, Sidcup, DA14 5AE |
| Nature of business: Building development |
| % |
| Class of shares: | holding |
| Ordinary | 37.50 |
| 2022 | 2021 |
| £ | £ |
| Aggregate capital and reserves | 131,574 | 51,243 |
| Profit for the year | 230,331 | 96,243 |
| This entity is 50% owned by Frankham Risk Management Services Limited. |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2022 | 2021 | 2022 | 2021 |
| as restated | as restated |
| £ | £ | £ | £ |
| Trade debtors | 3,149,694 | 3,113,264 |
| Amounts owed by group undertakings | 198,974 | - |
| Other debtors | 38,751 | 54,621 |
| Prepayments and accrued income | 1,608,427 | 1,579,885 |
| 4,995,846 | 4,747,770 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2022 | 2021 | 2022 | 2021 |
| as restated | as restated |
| £ | £ | £ | £ |
| Hire purchase contracts (see note 16) | 65,536 | 83,891 |
| Trade creditors | 828,662 | 1,173,536 |
| Amounts owed to group undertakings | - | 166,716 |
| Corporation tax | 379,589 | 131,540 |
| Social security and other taxes | 235,395 | 204,381 |
| VAT | 944,965 | 1,134,072 | 748,373 | 906,665 |
| Other creditors | 61,043 | 69,888 |
| Directors' current accounts | 237,500 | 122,750 | - | - |
| Accruals and deferred income | 1,863,348 | 1,371,041 |
| 4,616,038 | 4,457,815 |
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| Group | Company |
| 2022 | 2021 | 2022 | 2021 |
| as restated | as restated |
| £ | £ | £ | £ |
| Hire purchase contracts (see note 16) | 72,088 | 137,624 |
| 16. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Hire purchase contracts |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Net obligations repayable: |
| Within one year | 65,536 | 83,891 |
| Between one and five years | 72,088 | 137,624 |
| 137,624 | 221,515 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 16. | LEASING AGREEMENTS - continued |
| Company |
| Hire purchase contracts |
| 2022 | 2021 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Group |
| Non-cancellable | operating leases |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Within one year | 107,755 | 107,755 |
| Between one and five years | 53,878 | 161,633 |
| 161,633 | 269,388 |
| Company |
| Non-cancellable | operating leases |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| 17. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 2022 | 2021 | 2022 | 2021 |
| as restated | as restated |
| £ | £ | £ | £ |
| Deferred tax | 74,120 | 11,603 | 69,227 | 6,710 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 17. | PROVISIONS FOR LIABILITIES - continued |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2021 | 11,603 |
| Provided during year | 62,517 |
| Balance at 31 March 2022 | 74,120 |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2021 |
| Provided during year |
| Balance at 31 March 2022 |
| 18. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | as restated |
| £ | £ |
| Ordinary | £1 | 97,265 | 97,265 |
| 19. | RESERVES |
| Group |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2021 | 1,652,509 | 2,735 | 1,655,244 |
| Profit for the year | 962,830 | 962,830 |
| Dividends | (334,000 | ) | (334,000 | ) |
| At 31 March 2022 | 2,281,339 | 2,735 | 2,284,074 |
| FRANKHAM CONSULTANCY GROUP LIMITED (REGISTERED NUMBER: 04409614) |
| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 March 2022 |
| 19. | RESERVES - continued |
| Company |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2021 | 1,089,715 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 March 2022 | 1,645,183 |
| 20. | NON-CONTROLLING INTERESTS |
| The minority interests in the subsidiary companies are as follows: |
Company name |
% holding of Minority Interest |
Number of shares |
Value of shares |
| Frankham Risk Management Limited | 25% | 250 | Ord £1 |
| Camsoft Limited | 25% | - | Ord £1 |
| Frankham Projects Limited | 25% | 25 | Ord £1 |
| Lane and Frankham Limited | 25% | 25 | Ord £1 |
| Robson Frankham Limited | 62.5% | 500 | Ord £1 |
| All minority interest shares rank pari passu with the shares held by the parent company, with full voting and distribution rights attached to them. |
| 21. | ULTIMATE PARENT COMPANY |
| Frankham Holdings Limited is regarded by the directors as being the company's ultimate parent company. |
| 22. | RELATED PARTY DISCLOSURES |
| Details on related parties transactions can be found in the consolidated financial statements for the parent company, Frankham Holdings Limited. |
| 23. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is S J Frankham. |