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REGISTERED NUMBER: 07118385 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Frewfix Ltd

Frewfix Ltd (Registered number: 07118385)

Contents of the Financial Statements
for the Year Ended 31 January 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Frewfix Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: N Frew





REGISTERED OFFICE: Unit 23
United Downs Industrial Park
St Day
Redruth
Cornwall
TR16 5HY





REGISTERED NUMBER: 07118385 (England and Wales)






Frewfix Ltd (Registered number: 07118385)

Statement of Financial Position
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 499,016 551,927
Investments 5 25,924 25,000
524,940 576,927

CURRENT ASSETS
Stocks 6 166,733 222,644
Debtors 7 429,765 327,544
Cash at bank and in hand 24,904 118,591
621,402 668,779
CREDITORS
Amounts falling due within one year 8 372,211 385,436
NET CURRENT ASSETS 249,191 283,343
TOTAL ASSETS LESS CURRENT
LIABILITIES

774,131

860,270

PROVISIONS FOR LIABILITIES 91,668 101,127
NET ASSETS 682,463 759,143

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 682,363 759,043
SHAREHOLDERS' FUNDS 682,463 759,143

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

Frewfix Ltd (Registered number: 07118385)

Statement of Financial Position - continued
31 January 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 director and authorised for issue on 15 November 2023 and were signed by:





N Frew - Director


Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements
for the Year Ended 31 January 2023


1. STATUTORY INFORMATION

Frewfix Ltd 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.

Turnover
Turnover represents the net invoiced sales for labour and materials, excluding value added tax where relevant.

Revenue is measured at the fair value of the consideration received or receivable, where the company has accrued a right to consideration. Revenue is measured net of any agreed discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2022 93,079 31,273 627,297
Additions - - 36,800
Disposals - - -
At 31 January 2023 93,079 31,273 664,097
DEPRECIATION
At 1 February 2022 - 11,593 248,911
Charge for year - 3,128 62,278
Eliminated on disposal - - -
At 31 January 2023 - 14,721 311,189
NET BOOK VALUE
At 31 January 2023 93,079 16,552 352,908
At 31 January 2022 93,079 19,680 378,386

Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 149,073 11,177 911,899
Additions - 933 37,733
Disposals (22,500 ) - (22,500 )
At 31 January 2023 126,573 12,110 927,132
DEPRECIATION
At 1 February 2022 91,343 8,125 359,972
Charge for year 8,666 2,172 76,244
Eliminated on disposal (8,100 ) - (8,100 )
At 31 January 2023 91,909 10,297 428,116
NET BOOK VALUE
At 31 January 2023 34,664 1,813 499,016
At 31 January 2022 57,730 3,052 551,927

Included in cost of land and buildings is freehold land of £ 93,079 (2022 - £ 93,079 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Loans to
joint
ventures
£   
At 1 February 2022 25,000
New in year 924
At 31 January 2023 25,924

6. STOCKS
2023 2022
£    £   
Stocks 161,733 222,644
Payments on account 5,000 -
166,733 222,644

Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,019 113,932
Other debtors 243,746 213,612
429,765 327,544

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 162,912 228,287
Taxation and social security 200,677 152,525
Other creditors 8,622 4,624
372,211 385,436

Included within Other Creditors is the Directors Loan Account balance of £4,830 owed to the Director. This balance is non interest bearing and repayable upon demand.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There were no advances, credit or guarantees in favour of the Director during the year.

At the balance sheet date the company owed £4,830 to the director, Mr N Frew. This was the balance on his director's current account and is disclosed within other creditors.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2022 - £55,000) were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The controlling party is N Frew.

Mr N Frew is the ultimate controlling party, by virtue of owning 100% of the company's issued share capital.