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FREEFORM FABRICATION INDUSTRIES LIMITED

Unaudited Financial Statements

for the Year Ended 28th February 2023






FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FREEFORM FABRICATION INDUSTRIES LIMITED

Company Information
for the year ended 28th February 2023







DIRECTORS: T Warwick
D Schiller





REGISTERED OFFICE: 12 Pilgrim Street
Birkenhead
Merseyside
CH41 5EH





REGISTERED NUMBER: 10003939 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,625 13,500
Investments 5 756 756
13,381 14,256

CURRENT ASSETS
Debtors 6 749,395 668,948
Cash at bank 71,173 8,687
820,568 677,635
CREDITORS
Amounts falling due within one year 7 212,474 47,695
NET CURRENT ASSETS 608,094 629,940
TOTAL ASSETS LESS CURRENT LIABILITIES 621,475 644,196

CAPITAL AND RESERVES
Called up share capital 959 959
Share premium 861,291 861,291
Retained earnings (240,775 ) (218,054 )
621,475 644,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 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.

FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)

Balance Sheet - continued
28th February 2023


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 23rd November 2023 and were signed on its behalf by:





T Warwick - Director


FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

Freeform Fabrication Industries 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 director has considered the availability of funds to the company for future projects / works and believes access to funds is available to meet the company's requirements. As such the accounts should be prepared on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Patents
Patents are held in the balance sheet at historic cost and are being amortised over a period of 20 years.

The director will assess the value of Patents held in the balance sheet annually to assess whether any impairment provision is required at the end of each financial period.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price.


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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1st March 2022
and 28th February 2023 17,500
AMORTISATION
At 1st March 2022 4,000
Amortisation for year 875
At 28th February 2023 4,875
NET BOOK VALUE
At 28th February 2023 12,625
At 28th February 2022 13,500

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2022
and 28th February 2023 756
NET BOOK VALUE
At 28th February 2023 756
At 28th February 2022 756

FREEFORM FABRICATION INDUSTRIES LIMITED (REGISTERED NUMBER: 10003939)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 734,445 646,245
Other debtors 14,950 22,703
749,395 668,948

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 212,474 47,695