Fripura Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07535443 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Fripura Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P N Wilbraham

AJ Clay

D M Wilbraham

S B Wilbraham

R M Glover

R E Rudd

REGISTERED OFFICE:

Roland House

Princes Dock Street

Hull

HU1 2LD

REGISTERED NUMBER:

07535443 (England and Wales)

ACCOUNTANTS:

Try Lunn & Co

Chartered Accountants

Roland House

Princes Dock Street

HULL HU1 2LD

FIXED ASSETS

Intangible assets

4

73,875

82,779

Tangible assets

5

-

92

Investments

6

80

80

73,955

82,951

CURRENT ASSETS

Stocks

28,165

28,164

Debtors

7

303,232

293,224

Cash at bank and in hand

5,598

898

336,995

322,286

CREDITORS

Amounts falling due within one year

8

1,114,179

1,048,862

NET CURRENT LIABILITIES

(777,184

)

(726,576

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(703,229

)

(643,625

)

CREDITORS

Amounts falling due after more than one year

9

442,355

356,252

NET LIABILITIES

(1,145,584

)

(999,877

)

CAPITAL AND RESERVES

Called up share capital

11

21

21

Share premium

1,659,370

1,659,370

Retained earnings

(2,804,975

)

(2,659,268

)

SHAREHOLDERS' FUNDS

(1,145,584

)

(999,877

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 and authorised for issue on 17 December 2021 and were signed on its behalf by:

P N Wilbraham - Director

1.	STATUTORY INFORMATION

Fripura 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

Going concern

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.

The company has largely been financed by way of loans advanced by and shares issued to Wilbraham Securities LLP. The directors have assessed the company's working capital requirements for the foreseeable future and consider that the facilities made available by Wilbraham Securities LLP and forecasted to be made available will be adequate to meet the working capital requirements for the foreseeable future.

Turnover

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

Other intangible fixed assets

Other intangible fixed assets are included at cost and amortised in equal annual instalments over their estimated useful life.

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

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

125,073

AMORTISATION

At 1 January 2020

42,294

Charge for year

8,904

At 31 December 2020

51,198

NET BOOK VALUE

At 31 December 2020

73,875

At 31 December 2019

82,779

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

10,241

DEPRECIATION

At 1 January 2020

10,149

Charge for year

92

At 31 December 2020

10,241

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

92

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

80

NET BOOK VALUE

At 31 December 2020

80

At 31 December 2019

80

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

68,064

67,841

Amounts owed by group undertakings

215,857

210,221

Other debtors

19,311

15,162

303,232

293,224

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Loan

108,333

106,000

Trade creditors

161,842

186,673

Taxation and social security

2,533

1,941

Other creditors

841,472

754,249

1,114,180

1,048,863

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Loan

442,355

356,252

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Loan

530,688

462,252

The loan facility of up to an amount of £850,000 is secured by a debenture over specified items of equipment.

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

2,098

Ordinary

1p

21

21

12.	RELATED PARTY DISCLOSURES

At 31 December 2020 £530,688 (2019: £462,252) was owed by the company to Wilbraham Securities LLP. The loan is secured by a debenture over equipment used in Fripura Limited's research and development activities. Interest is chargeable on the loan at 12.5% per annum and the accrued amount of interest payable is £728,326. £106,000 of the loan is repayable on demand and up to £424,688 is not repayable until after 31 December 2021.

During the period the company made no costs (2019:£30,301) on behalf of its subsidiary company Fripura Sales Limited and made no recharges to Fripura Sales Limited (2019: £47,591). At the balance sheet date £197,781 (2019 £203,899) was owed to the company by Fripura Sales Limited.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr PN Wilbraham