Fransept Limited - Period Ending 2022-10-31
Fransept Limited - Period Ending 2022-10-31
Registration number:
Fransept Limited
for the Year Ended 31 October 2022
Fransept Limited
(Registration number: 03391759)
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Fransept Limited
(Registration number: 03391759)
Company Information
Director |
Mrs V Keough |
Company secretary |
Mrs V Keough |
Registered office |
|
Accountants |
|
Fransept Limited
(Registration number: 03391759)
Balance Sheet as at 31 October 2022
Note |
2022 |
2021 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Total equity |
|
|
For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Fransept Limited
(Registration number: 03391759)
Balance Sheet as at 31 October 2022
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Fransept Limited
(Registration number: 03391759)
Notes to the Financial Statements for the Year Ended 31 October 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
10% - 25% straight line basis |
Motor vehicles |
20% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fransept Limited
(Registration number: 03391759)
Notes to the Financial Statements for the Year Ended 31 October 2022
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Fransept Limited
(Registration number: 03391759)
Notes to the Financial Statements for the Year Ended 31 October 2022
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
At 1 November 2021 |
|
|
At 31 October 2022 |
|
|
Depreciation |
||
At 1 November 2021 |
|
|
Charge for the year |
|
|
At 31 October 2022 |
|
|
Carrying amount |
||
At 31 October 2022 |
|
|
At 31 October 2021 |
|
|
Debtors |
2022 |
2021 |
|
Trade debtors |
|
|
Other debtors |
|
|
Total current trade and other debtors |
|
|
Creditors |
2022 |
2021 |
|
Due within one year |
||
Trade creditors |
|
|
Other creditors |
|
|
Accrued expenses |
|
|
|
|
Fransept Limited
(Registration number: 03391759)
Notes to the Financial Statements for the Year Ended 31 October 2022
Note |
2022 |
2021 |
|
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2022 |
2021 |
|
Non-current loans and borrowings |
||
Other borrowings |
|
|
Exceptional item |
The exceptional item relates to the loan to HK4 Group Limited. This loan was previously written off in 2018 as at that time it was deemed irrecoverable. The director now considers that the loan is recoverable and therefore the amount due from HK4 Group Limited has been reinstated as a debtor in the balance sheet.