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 2024

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

54,391

3,143

54,391

3,143

CURRENT ASSETS

Stocks

-

10,000

Debtors

7

258,806

240,629

Cash at bank and in hand

18,429

61,391

277,235

312,020

CREDITORS

Amounts falling due within one year

8

164,077

164,612

NET CURRENT ASSETS

113,158

147,408

TOTAL ASSETS LESS CURRENT LIABILITIES

167,549

150,551

CREDITORS

Amounts falling due after more than one year

9

(55,670

)

(25,833

)

PROVISIONS FOR LIABILITIES

-

(319

)

NET ASSETS

111,879

124,399

CAPITAL AND RESERVES

Called up share capital

10

101

101

Capital redemption reserve

11

2

2

Retained earnings

11

111,776

124,296

SHAREHOLDERS' FUNDS

111,879

124,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 9 May 2024 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures, fittings & equipment

-

33% on reducing balance

Motor vehicles

-

25% 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

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 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 6 (2023 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2023

and 31 March 2024

125,058

AMORTISATION

At 1 April 2023

and 31 March 2024

125,058

NET BOOK VALUE

At 31 March 2024

-

At 31 March 2023

-

6.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Motor

Computer

& equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2023

44,825

-

34,073

78,898

Additions

6,849

59,500

142

66,491

At 31 March 2024

51,674

59,500

34,215

145,389

DEPRECIATION

At 1 April 2023

44,294

-

31,461

75,755

Charge for year

2,435

11,900

908

15,243

At 31 March 2024

46,729

11,900

32,369

90,998

NET BOOK VALUE

At 31 March 2024

4,945

47,600

1,846

54,391

At 31 March 2023

531

-

2,612

3,143

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

59,500

At 31 March 2024

59,500

DEPRECIATION

Charge for year

11,900

At 31 March 2024

11,900

NET BOOK VALUE

At 31 March 2024

47,600

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24

31.3.23

£

£

Trade debtors

11,462

11,108

Amounts owed by participating interests

96,865

75,840

Other debtors

150,479

153,681

258,806

240,629

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.24

31.3.23

£

£

Bank loans and overdrafts

37,440

29,541

Hire purchase contracts

8,663

-

Trade creditors

16,554

17,757

Taxation and social security

66,804

81,773

Other creditors

34,616

35,541

164,077

164,612

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.24

31.3.23

£

£

Bank loans

15,833

25,833

Hire purchase contracts

39,837

-

55,670

25,833

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.24

31.3.23

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 2023

124,296

2

124,298

Profit for the year

92,480

92,480

Dividends

(105,000

)

(105,000

)

At 31 March 2024

111,776

2

111,778