Company registration number:
for the Year Ended
Frauscher UK Limited
(Registration number: 07184154)
Balance Sheet as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Provisions |
(24,043) |
(18,731) |
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Deferred tax liabilities |
- |
(2,761) |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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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
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Frauscher UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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Disposals |
( |
( |
At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Stocks |
2024 |
2023 |
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Finished goods and goods for resale |
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Frauscher UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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- |
Corporation tax |
52,694 |
65,056 |
Other debtors |
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Total current trade and other debtors |
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Creditors |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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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.
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 £
Frauscher UK Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
Parent and ultimate parent undertaking |
The company's immediate parent is
Audit Report |
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.