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REGISTERED NUMBER: 07118385 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Frewfix Ltd

Frewfix Ltd (Registered number: 07118385)

Contents of the Financial Statements
for the Year Ended 31 January 2024










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 2024







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 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 466,259 499,016
Investments 5 25,924 25,924
492,183 524,940

CURRENT ASSETS
Stocks 6 130,073 166,733
Debtors 7 377,710 429,765
Cash at bank and in hand 446 24,904
508,229 621,402
CREDITORS
Amounts falling due within one year 8 324,929 372,211
NET CURRENT ASSETS 183,300 249,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

675,483

774,131

PROVISIONS FOR LIABILITIES 86,039 91,668
NET ASSETS 589,444 682,463

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 589,344 682,363
SHAREHOLDERS' FUNDS 589,444 682,463

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

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

Frewfix Ltd (Registered number: 07118385)

Statement of Financial Position - continued
31 January 2024


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 31 October 2024 and were signed by:





N Frew - Director


Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements
for the Year Ended 31 January 2024


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 2024


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 12 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 February 2023 93,079 31,273 664,097
Additions - - 44,749
Disposals - - (5,646 )
At 31 January 2024 93,079 31,273 703,200
DEPRECIATION
At 1 February 2023 - 14,721 311,189
Charge for year - 3,128 58,632
Eliminated on disposal - - 1,129
At 31 January 2024 - 17,849 370,950
NET BOOK VALUE
At 31 January 2024 93,079 13,424 332,250
At 31 January 2023 93,079 16,552 352,908

Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 126,573 12,110 927,132
Additions 14,950 2,059 61,758
Disposals (58,790 ) - (64,436 )
At 31 January 2024 82,733 14,169 924,454
DEPRECIATION
At 1 February 2023 91,909 10,297 428,116
Charge for year 6,456 2,189 70,405
Eliminated on disposal (41,455 ) - (40,326 )
At 31 January 2024 56,910 12,486 458,195
NET BOOK VALUE
At 31 January 2024 25,823 1,683 466,259
At 31 January 2023 34,664 1,813 499,016

Included in cost of land and buildings is freehold land of £ 93,079 (2023 - £ 93,079 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Loans to
joint
ventures
£   
At 1 February 2023
and 31 January 2024 25,924

6. STOCKS
2024 2023
£    £   
Stocks 130,073 161,733
Payments on account - 5,000
130,073 166,733

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,998 186,019
Other debtors 322,712 243,746
377,710 429,765

Frewfix Ltd (Registered number: 07118385)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 53,390 162,912
Taxation and social security 263,883 200,677
Other creditors 7,656 8,622
324,929 372,211

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
N Frew
Balance outstanding at start of year - -
Amounts advanced 41,033 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 41,033 -

During the year the Directors received a net advance of £41,033 as a temporary loan.

The main conditions regarding advances and credits were that sums were to be repaid to the company as soon as possible and any overdrawn balance at a month end in excess of £10,000 each would incur interest at the official rate of interest. The official rate of interest during the period was 2.25% throughout the period.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £27,750 (2023 - £50,000) 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.