Company Registration No. 09575325 (England and Wales)
Frontier Computer Corp Limited
Unaudited accounts
for the period from 1 June 2023 to 31 December 2023
Frontier Computer Corp Limited
Unaudited accounts
Contents
Frontier Computer Corp Limited
Company Information
for the period from 1 June 2023 to 31 December 2023
Company Number
09575325 (England and Wales)
Registered Office
380A New Hythe Lane
Larkfield
Maidstone
Kent
MR20 6RZ
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
Frontier Computer Corp Limited
Statement of financial position
as at 31 December 2023
Tangible assets
5,537
7,383
Inventories
263,026
209,983
Cash at bank and in hand
110,019
159,060
Creditors: amounts falling due within one year
(428,076)
(347,731)
Net current assets
366,196
355,556
Net assets
371,733
362,939
Called up share capital
50
50
Capital redemption reserve
(68,900)
(68,900)
Profit and loss account
440,583
431,789
Shareholders' funds
371,733
362,939
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2024 and were signed on its behalf by
Richard Koenders
Director
Company Registration No. 09575325
Frontier Computer Corp Limited
Notes to the Accounts
for the period from 1 June 2023 to 31 December 2023
Frontier Computer Corp Limited is a private company, limited by shares, registered in England and Wales, registration number 09575325. The registered office is 380A New Hythe Lane, Larkfield, Maidstone, Kent, MR20 6RZ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Frontier Computer Corp Limited
Notes to the Accounts
for the period from 1 June 2023 to 31 December 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
9,475
5,186
14,661
At 31 December 2023
9,475
5,186
14,661
At 1 June 2023
4,853
2,425
7,278
Charge for the period
1,156
690
1,846
At 31 December 2023
6,009
3,115
9,124
At 31 December 2023
3,466
2,071
5,537
At 31 May 2023
4,622
2,761
7,383
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Debtors
31/12/2023
31/05/2023
Amounts falling due within one year
Trade debtors
361,227
274,026
Other debtors
60,000
60,218
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Creditors: amounts falling due within one year
31/12/2023
31/05/2023
Trade creditors
266,908
184,408
Taxes and social security
30,567
26,299
Loans from directors
-
1,219
Frontier Computer Corp Limited
Notes to the Accounts
for the period from 1 June 2023 to 31 December 2023
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Share capital
31/12/2023
31/05/2023
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50
50
The shares of the company are owned by Frontier Computer Corp BV and company registered in the Netherlands.
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Average number of employees
During the period the average number of employees was 3 (31/05/2023: 3).