IRIS Accounts Production v25.1.3.33 01944317 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh019443172023-08-31019443172024-08-31019443172023-09-012024-08-31019443172022-08-31019443172022-09-012023-08-31019443172023-08-3101944317ns15:EnglandWales2023-09-012024-08-3101944317ns14:PoundSterling2023-09-012024-08-3101944317ns10:Director12023-09-012024-08-3101944317ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3101944317ns10:SmallEntities2023-09-012024-08-3101944317ns10:AuditExemptWithAccountantsReport2023-09-012024-08-3101944317ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3101944317ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3101944317ns10:FullAccounts2023-09-012024-08-3101944317ns10:Director22023-09-012024-08-3101944317ns10:Director32023-09-012024-08-3101944317ns10:Director42023-09-012024-08-3101944317ns10:RegisteredOffice2023-09-012024-08-3101944317ns5:CurrentFinancialInstruments2024-08-3101944317ns5:CurrentFinancialInstruments2023-08-3101944317ns5:Non-currentFinancialInstruments2024-08-3101944317ns5:Non-currentFinancialInstruments2023-08-3101944317ns5:ShareCapital2024-08-3101944317ns5:ShareCapital2023-08-3101944317ns5:FurtherSpecificReserve1ComponentTotalEquity2024-08-3101944317ns5:FurtherSpecificReserve1ComponentTotalEquity2023-08-3101944317ns5:RetainedEarningsAccumulatedLosses2024-08-3101944317ns5:RetainedEarningsAccumulatedLosses2023-08-3101944317ns5:PlantMachinery2023-09-012024-08-3101944317ns5:PlantMachinery2023-08-3101944317ns5:PlantMachinery2024-08-3101944317ns5:PlantMachinery2023-08-3101944317ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3101944317ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3101944317ns5:WithinOneYear2024-08-3101944317ns5:WithinOneYear2023-08-3101944317ns5:BetweenOneFiveYears2024-08-3101944317ns5:BetweenOneFiveYears2023-08-3101944317ns5:MoreThanFiveYears2024-08-3101944317ns5:MoreThanFiveYears2023-08-3101944317ns5:AllPeriods2024-08-3101944317ns5:AllPeriods2023-08-3101944317ns5:Secured2024-08-3101944317ns5:Secured2023-08-310194431712023-09-012024-08-31
REGISTERED NUMBER: 01944317 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Frequency Precision Limited

Frequency Precision Limited (Registered number: 01944317)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Frequency Precision Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr C D G Dwyer
Mr T E P Dwyer
Ms E Y A Dwyer
Mr H F C Dwyer





REGISTERED OFFICE: Coopers Yard
The Old Cider Works
Abbotskerswell
Newton Abbot
Devon
TQ12 5NF





REGISTERED NUMBER: 01944317 (England and Wales)





ACCOUNTANTS: Indigo Tax and Accountancy Limited
The Barn
Brighton Road
Lower Beeding
Horsham
West Sussex
RH13 6PT

Frequency Precision Limited (Registered number: 01944317)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,437 4,606

CURRENT ASSETS
Stocks 142,481 185,467
Debtors 5 170,843 114,250
Prepayments and accrued income 119,238 44,460
Cash in hand 6 21,435 53,923
453,997 398,100
CREDITORS
Amounts falling due within one year 7 128,348 145,381
NET CURRENT ASSETS 325,649 252,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

328,086

257,325

CREDITORS
Amounts falling due after more than one year 8 (53,819 ) (19,062 )

PROVISIONS FOR LIABILITIES (274 ) (741 )
NET ASSETS 273,993 237,522

CAPITAL AND RESERVES
Called up share capital 204 204
Other reserves 16 16
Retained earnings 273,773 237,302
273,993 237,522

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

Frequency Precision Limited (Registered number: 01944317)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2025 and were signed on its behalf by:





Ms E Y A Dwyer - Director


Frequency Precision Limited (Registered number: 01944317)

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

1. STATUTORY INFORMATION

Frequency Precision 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - straight line over 4 years

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 Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Frequency Precision Limited (Registered number: 01944317)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 20,518
Additions 2,156
Disposals (2,685 )
At 31 August 2024 19,989
DEPRECIATION
At 1 September 2023 15,912
Charge for year 4,325
Eliminated on disposal (2,685 )
At 31 August 2024 17,552
NET BOOK VALUE
At 31 August 2024 2,437
At 31 August 2023 4,606

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 56,590 106,236
Other debtors 114,253 8,014
170,843 114,250

6. CASH IN HAND
2024 2023
£    £   
Cash in hand 38,648 60,585
Credit card (17,213 ) (6,662 )
21,435 53,923

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,289 10,036
Trade creditors 73,053 81,658
Taxation and social security 25,879 38,846
Other creditors 19,127 14,841
128,348 145,381

Frequency Precision Limited (Registered number: 01944317)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 8,773 19,062
Other creditors 45,046 -
53,819 19,062

Amounts falling due in more than five years:

Repayable by instalments
Debentures 12,387 -

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 41,771 8,264
Between one and five years 124,800 25,460
In more than five years 62,400 -
228,971 33,724

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Debentures 50,000 -

The debenture loan is secured by a fixed and floating charge over all the assets of the company.

11. POST BALANCE SHEET EVENTS

On 27 November 2024 the company's entire share capital was acquired by Dwyer Group Holdings Ltd. The four company directors remain the ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Frequency Precision Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Frequency Precision Limited for the year ended 31 August 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Frequency Precision Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Frequency Precision Limited and state those matters that we have agreed to state to the Board of Directors of Frequency Precision Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Frequency Precision Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Frequency Precision Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Frequency Precision Limited. You consider that Frequency Precision Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Frequency Precision Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Indigo Tax and Accountancy Limited
The Barn
Brighton Road
Lower Beeding
Horsham
West Sussex
RH13 6PT


Date: .............................................