Fraser Ross Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03728871 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Fraser Ross Limited

T/A

Brayshaw Morey

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R A Clephane

SECRETARY:

Mrs S M Clephane

REGISTERED OFFICE:

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

REGISTERED NUMBER:

03728871 (England and Wales)

ACCOUNTANTS:

Brayshaw Morey

Certified Public Accountants

Fraser Ross House

24 Broad Street

Stamford

Lincolnshire

PE9 1PJ

BANKERS:

Barclays Bank plc

46-49 Broad Street

Stamford

Lincolnshire

PE9 1PZ

SOLICITORS:

Garner's Solicitors

1 Oxford Road

Stamford

Lincolnshire

PE91BT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

3,143

4,074

3,143

4,074

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

7

240,629

290,990

Cash at bank and in hand

61,391

30,036

312,020

331,026

CREDITORS

Amounts falling due within one year

8

164,612

187,706

NET CURRENT ASSETS

147,408

143,320

TOTAL ASSETS LESS CURRENT LIABILITIES

150,551

147,394

CREDITORS

Amounts falling due after more than one year

9

(25,833

)

(35,833

)

PROVISIONS FOR LIABILITIES

(319

)

(434

)

NET ASSETS

124,399

111,127

CAPITAL AND RESERVES

Called up share capital

10

101

101

Capital redemption reserve

11

2

2

Retained earnings

11

124,296

111,024

SHAREHOLDERS' FUNDS

124,399

111,127

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 November 2023 and were signed by:

Mr R A Clephane - Director

1.	STATUTORY INFORMATION

Fraser Ross 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings & equipment

-

33% on reducing balance

Computer equipment

-

33% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

125,058

AMORTISATION

At 1 April 2022

and 31 March 2023

125,058

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

6.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Computer

& equipment

equipment

Totals

£

£

£

COST

At 1 April 2022

44,825

33,457

78,282

Additions

-

616

616

At 31 March 2023

44,825

34,073

78,898

DEPRECIATION

At 1 April 2022

44,033

30,175

74,208

Charge for year

261

1,286

1,547

At 31 March 2023

44,294

31,461

75,755

NET BOOK VALUE

At 31 March 2023

531

2,612

3,143

At 31 March 2022

792

3,282

4,074

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

11,108

26,958

Amounts owed by participating interests

75,840

66,640

Other debtors

153,681

197,392

240,629

290,990

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

29,541

39,245

Trade creditors

17,757

16,884

Taxation and social security

81,773

88,166

Other creditors

35,541

43,411

164,612

187,706

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

25,833

35,833

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary A

£1

100

100

1

Ordinary 'B'

£1

1

1

101

101

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2022

111,024

2

111,026

Profit for the year

108,272

108,272

Dividends

(95,000

)

(95,000

)

At 31 March 2023

124,296

2

124,298