Fresche Solutions Limited - Accounts to registrar (filleted) - small 22.3

Fresche Solutions Limited - Accounts to registrar (filleted) - small 22.3

FRESCHE SOLUTIONS LIMITED - Company Information

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REGISTERED NUMBER: 01795263 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

FRESCHE SOLUTIONS LIMITED
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FRESCHE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: R Madan Mohan
F A Preston
S M Woodard



REGISTERED OFFICE: Narrow Quay House
Narrow Quay
Bristol
BS1 4QA



REGISTERED NUMBER: 01795263 (England and Wales)



SENIOR STATUTORY AUDITOR: John David Lee BA FCA



AUDITORS: Xeinadin Audit Limited
8th Floor Becket House
36 Old Jewry
London
EC2R 8DD
Page 1
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 734
Investments 5 28,825 28,825
28,825 29,559

CURRENT ASSETS
Debtors 6 4,429,293 4,685,188
Cash at bank 170,899 100,619
4,600,192 4,785,807
CREDITORS
Amounts falling due within one year 7 992,793 941,042
NET CURRENT ASSETS 3,607,399 3,844,765
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,636,224
3,874,324

CREDITORS
Amounts falling due after more than one year 8 46,113 70,564
NET ASSETS 3,590,111 3,803,760

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 3,565,111 3,778,760
3,590,111 3,803,760

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 and authorised for issue on 22 December 2022 and were signed on its behalf by:





S M Woodard - Director


The notes form part of these financial statements

Page 2
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Fresche Solutions 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using effective interest method.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Page 3 continued...
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021
and 31 March 2022 7,121
DEPRECIATION
At 1 April 2021 6,387
Charge for year 734
At 31 March 2022 7,121
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 734

5. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2021
and 31 March 2022 28,825
NET BOOK VALUE
At 31 March 2022 28,825
At 31 March 2021 28,825

Page 4 continued...
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 140,537 201,587
Amounts owed by group undertakings 4,241,974 4,472,331
Other debtors 46,782 11,270
4,429,293 4,685,188

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 12,814 31,331
Amounts owed to group undertakings 319,972 328,228
Taxation and social security 1,060 11,725
Other creditors 658,947 569,758
992,793 941,042

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 46,113 70,564

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John David Lee BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. RELATED PARTIES

At 31 March 2022, the amounts due from and to other group companies were as follows:

2022 2021
£ £
Amounts due from/(to) other group companies

Fresche Solutions Inc 162,947 1,091,227
Fresche Solutions USA Corporation 4,079,027 3,381,104

Total 4,241,974 4,472,331
Amounts due to other group companies

Looksoftware PTY 319,972 328,228
No interest is charged on group company balances.


Page 5 continued...
FRESCHE SOLUTIONS LIMITED (REGISTERED NUMBER: 01795263)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


10. RELATED PARTIES - continued

The controlling party is Modernization Holdings Inc, a company registered in America.

The ultimate controlling party is American Pacific Group, a company registered in America.

The company's accounts are consolidated with the group accounts of Modernization Holdings Inc. The registered address for this company is 129 Orange Street, Wilmington, DE 19801,USA and the trading address is 995 Wellington, Suite 200, Montreal, QC H3C 1V3, Canada.

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