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Company registration number: 07184154

Frauscher UK Limited

Filleted Annual Report and Financial Statements

for the Year Ended 31 December 2024

 

Frauscher UK Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Frauscher UK Limited

(Registration number: 07184154)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,037

29,773

Current assets

 

Stocks

5

59,176

72,484

Debtors

6

1,254,551

1,601,156

Cash at bank and in hand

 

636,227

817,537

 

1,949,954

2,491,177

Creditors: Amounts falling due within one year

7

(380,048)

(957,271)

Net current assets

 

1,569,906

1,533,906

Total assets less current liabilities

 

1,582,943

1,563,679

Provisions for liabilities

 

Provisions

 

(24,043)

(18,731)

Deferred tax liabilities

 

-

(2,761)

Provisions for liabilities

(24,043)

(21,492)

Net assets

 

1,558,900

1,542,187

Capital and reserves

 

Called up share capital

25,000

25,000

Profit and loss account

1,533,900

1,517,187

Total equity

 

1,558,900

1,542,187

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 


M Gangl-Verma
Director

   
 

Frauscher UK Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Abbey House
282 Farnborough Road
Farnborough
Hampshire
GU14 7NA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements are presented in Sterling (£) and have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Turnover is recognised at the point at which goods are delivered to the customer.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Frauscher UK Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on timing differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fixtures and equipment

20 - 33% straight line

Plant and machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade and other debtors, relating primarily to group balances, are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Frauscher UK Limited

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

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Trade and other creditors, relating primarily to group balances, are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

The benefits of lease incentives are recognised in the profit and loss account over the lease period.

Assets held for use in operating leases are held within fixed assets at cost and depreciated over their useful economic life.

Rental income from operating leases is recognised on a straight line basis.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 

Frauscher UK Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 27 (2023 - 26).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

127,652

127,652

Additions

1,273

1,273

Disposals

(10,845)

(10,845)

At 31 December 2024

118,080

118,080

Depreciation

At 1 January 2024

97,879

97,879

Charge for the year

17,710

17,710

Eliminated on disposal

(10,546)

(10,546)

At 31 December 2024

105,043

105,043

Carrying amount

At 31 December 2024

13,037

13,037

At 31 December 2023

29,773

29,773

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

59,176

72,484

 

Frauscher UK Limited

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

6

Debtors

2024
 £

2023
 £

Trade debtors

703,268

1,426,302

Amounts owed by group undertakings and undertakings in which the company has a participating interest

384,086

-

Corporation tax

52,694

65,056

Other debtors

114,503

109,798

Total current trade and other debtors

1,254,551

1,601,156

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

12,508

20,456

Amounts owed to group undertakings and undertakings in which the company has a participating interest

4,832

171,148

Taxation and social security

272,348

123,181

Other creditors

90,360

642,486

380,048

957,271

8

Provisions

The amount in Provisions represents the predicted cost of future long-service award benefits payable to all employees on reaching set milestones. The provision is calculated using information from the Group’s external advisors and is adjusted on an annual basis.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £334,378 (2023 - £379,294).

 

Frauscher UK Limited

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

10

Parent and ultimate parent undertaking

The company's immediate parent is Frauscher Sensortechnik GmbH, incorporated in Austria.

 

11

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 February 2025 was Robert Oram BFP FCA, who signed for and on behalf of Albert Goodman LLP.

12

Subsidy income

In the year Other operating income in the profit and loss account includes receipt of a subsidy of £320,000 from the company’s immediate parent, Frauscher Sensortechnik GmbH. This is in accordance with an agreement resulting in Frauscher UK Limited being recompensed for developing new markets on behalf of the group.