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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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FRAXSES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017 |
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FOR |
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FRAXSES LIMITED |
FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31st December 2017 |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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FRAXSES LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31st December 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION |
31st December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 7 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
31st December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31st December 2017 |
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1. | STATUTORY INFORMATION |
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Fraxses Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of services provided under contracts to the extent that there is a right to |
consideration and is recorded at the value of the consideration due. Where a contract has only been partially |
completed at the balance sheet date turnover represents the value of the service provided to date based on a |
proportion of the total expected consideration at completion. |
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Where payments are received from customers in advance of services provided, the amounts are recorded as |
Deferred Income and included as part of Creditors due within one year. |
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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. |
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Intangible assets |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful |
economic life of that asset as follows: |
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Patents and licences - 5% straight line |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position 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. |
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Going concern |
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a |
reasonable expectation that the company has adequate resources to continue in operational existence for the |
foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st December 2017 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st January 2017 |
and 31st December 2017 |
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AMORTISATION |
At 1st January 2017 |
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Amortisation for year |
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At 31st December 2017 |
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NET BOOK VALUE |
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At 31st December 2017 |
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At 31st December 2016 |
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5. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
Additions | 41,732 |
At 31st December 2017 | 41,732 |
NET BOOK VALUE |
At 31st December 2017 | 41,732 |
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6. |
DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1st January 2017 | ( |
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Deficit for the year | ( |
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At 31st December 2017 | ( |
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FRAXSES LIMITED (REGISTERED NUMBER: 08567206) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st December 2017 |
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8. | RELATED PARTY DISCLOSURES |
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Intenda UK Ltd |
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In the year of 2014 the company purchased Intellectual Property amounting to £750,000 from Intenda UK |
Limited, the parent company. The Intellectual Property was purchased on an arm's length basis. No further |
purchases of patents & licences were made during 2017. |
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Included under creditors falling due after more than one year is an amount due to Intenda UK Limited of |
£1,162,307 (2016 - £1,546,793). This loan is interest free, unsecured and no fixed terms for repayment. |
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Within Other Debtors more than one year is £nil owed from Intenda UK Ltd (2016 £481,110). |
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9. | ULTIMATE CONTROLLING PARTY |
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Intenda (Pty) Ltd (incorporated in South Africa) is regarded by the directors as being the company's ultimate |
parent company. |
Intenda (Pty) Ltd group accounts can be viewed at their registered offices at 265 Von Willich |
Avenue, Unit 15 Centuria Park, Centurion, 0157, South Africa. |