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REGISTERED NUMBER: 00837346 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FRANKLIN SILENCERS LIMITED

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FRANKLIN SILENCERS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTORS: Mrs J Bateman
Mr J Bateman
Mr D Bateman





REGISTERED OFFICE: 1 Grafton Place
Grafton Street Industrial Estate
Northampton
Northamptonshire
NN1 2PS





REGISTERED NUMBER: 00837346 (England and Wales)





ACCOUNTANTS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 718,830 795,654

CURRENT ASSETS
Stocks 230,133 392,137
Debtors 5 948,514 884,712
Cash at bank and in hand 17,895 14,900
1,196,542 1,291,749
CREDITORS
Amounts falling due within one year 6 733,960 778,051
NET CURRENT ASSETS 462,582 513,698
TOTAL ASSETS LESS CURRENT LIABILITIES 1,181,412 1,309,352

CREDITORS
Amounts falling due after more than
one year

7

(23,197

)

(33,192

)

PROVISIONS FOR LIABILITIES (69,025 ) (66,250 )
NET ASSETS 1,089,190 1,209,910

CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Revaluation reserve 156,491 156,491
Capital redemption reserve 607 607
Retained earnings 922,092 1,042,812
SHAREHOLDERS' FUNDS 1,089,190 1,209,910

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

BALANCE SHEET - continued
31 March 2023


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 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.

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 27 November 2023 and were signed on its behalf by:





Mr J Bateman - Director


FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023


1. STATUTORY INFORMATION

Franklin Silencers 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. 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
In accordance with the principles of revenue recognition as stated in FRS 102, turnover is calculated by reference to the transfer of the risks and rewards of ownership of the goods and to the stage of completion of the transaction as at the end of the accounting period, including estimates of amounts not yet invoiced.

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.
Freehold property - The shorter of 25 years and the lease
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% 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 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.

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2022 - 40 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022 683,075 2,248,407 53,490 2,984,972
Additions - 22,040 - 22,040
At 31 March 2023 683,075 2,270,447 53,490 3,007,012
DEPRECIATION
At 1 April 2022 233,512 1,916,269 39,537 2,189,318
Charge for year 6,831 88,545 3,488 98,864
At 31 March 2023 240,343 2,004,814 43,025 2,288,182
NET BOOK VALUE
At 31 March 2023 442,732 265,633 10,465 718,830
At 31 March 2022 449,563 332,138 13,953 795,654

Freehold property is included at a valuation by Messrs Hadland, Chartered Surveyors, on 17 March 1989 plus subsequent improvements at cost. This valuation has not been updated in accordance with the transitional provisions of FRS 102.

Tangible fixed assets included at a valuation would have been included on a historical cost basis at:

Cost £476,686 (2022: £476,686)
Depreciation £183,867 (2022: £179,099)
Net book value £292,820 (2022: £297,587)

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 44,314
DEPRECIATION
At 1 April 2022 25,619
Charge for year 4,674
At 31 March 2023 30,293
NET BOOK VALUE
At 31 March 2023 14,021
At 31 March 2022 18,695

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 876,091 858,734
Other debtors 72,423 25,978
948,514 884,712

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 191,725 147,608
Trade creditors 404,064 512,015
Taxation and social security 129,104 109,736
Other creditors 9,067 8,692
733,960 778,051

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,197 33,192

FRANKLIN SILENCERS LIMITED (REGISTERED NUMBER: 00837346)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Discounted debt advance 181,729 137,804

The bank overdraft is secured by a debenture incorporating a fixed and floating charge over the commercial freehold property and all book debts and other debts of the company.

The advance in respect of discounted debt is secured by a legal charge incorporating a fixed and floating charge over the commercial freehold property and all book debts and other debts of the company.

The hire purchase contracts are secured on the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000