Registration number: 01858736

Frictec Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

Frictec Limited

Company Information

Director

Miss E S Fawell

Company secretary

Mr C V J Fawell

Registered office

Robinson Way Portsmouth Hants PO3 5SA

Accountants

MMO Limited Wellesley House 204 London Road Waterlooville Hampshire PO7 7AN

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Frictec Limited
for the Year Ended 30 April 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Frictec Limited for the year ended 30 April 2025 as set out on pages 3 to 10 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Frictec Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Frictec Limited. You consider that Frictec 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 accounts of Frictec 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 accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

6 October 2025

Frictec Limited

(Registration number: 01858736)
Balance Sheet as at 30 April 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	58,805	92,823
Current assets
Stocks	5	510,497	511,306
Debtors	6	730,520	796,453
Cash at bank and in hand		23,830	15,672
		1,264,847	1,323,431
Creditors: Amounts falling due within one year	7	(282,066)	(342,994)
Net current assets		982,781	980,437
Total assets less current liabilities		1,041,586	1,073,260
Creditors: Amounts falling due after more than one year	7	(8,277)	(29,887)
Net assets		1,033,309	1,043,373
Capital and reserves
Called up share capital	8	7,974	7,974
Share premium reserve		1,590,597	1,590,597
Retained earnings		(565,262)	(555,198)
Shareholders' funds		1,033,309	1,043,373

For the financial year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Frictec Limited

(Registration number: 01858736)
Balance Sheet as at 30 April 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 October 2025
 

......................................... Miss E S Fawell Director

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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:
Robinson Way
Portsmouth
Hants
PO3 5SA
England

These financial statements were authorised for issue by the director on 3 October 2025.

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 have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

Depreciation

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
Plant and machinery	15% straight line basis
Fixtures and fittings	15% straight line basis
Office equipment	33% straight line basis

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.

Trade debtors

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

Trade debtors 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 20 (2024 - 20).

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2024	1,092,158	1,092,158
At 30 April 2025	1,092,158	1,092,158
Depreciation
At 1 May 2024	999,335	999,335
Charge for the year	34,018	34,018
At 30 April 2025	1,033,353	1,033,353
Carrying amount
At 30 April 2025	58,805	58,805
At 30 April 2024	92,823	92,823

5

Stocks

	2025 £	2024 £
Raw materials and consumables	73,414	86,038
Work in progress	28,518	63,067
Finished goods and goods for resale	340,558	325,383
Other inventories	68,007	36,818
	510,497	511,306

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		250,394	313,843
Amounts owed by related parties	10	439,903	439,903
Prepayments		3,004	5,488
Other debtors		37,219	37,219
		730,520	796,453

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	170,633	217,657
Trade creditors		66,507	77,849
Taxation and social security		18,505	36,899
Accruals and deferred income		7,243	6,097
Other creditors		19,178	4,492
		282,066	342,994

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	8,277	29,887

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.05 each	159,484	7,974	159,484	7,974

Frictec Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	8,277	29,887

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	11,284	21,486
Bank overdrafts	137,739	172,831
Hire purchase contracts	21,610	23,340
	170,633	217,657

10	Related party transactions

Loans to related parties

2025	Parent £	Total £
At start of period	439,903	439,903
At end of period	439,903	439,903

2024	Parent £	Total £
At start of period	439,903	439,903
At end of period	439,903	439,903

Terms of loans to related parties

Included in other debtors is an intercompany loan made to the parent company Friction Technologies (UK) Limited. The loan is undated, unsecured, interest free and repayable on demand.
 

11	Parent and ultimate parent undertaking

The company's immediate parent is Friction Technologies (UK) Limited, incorporated in England and Wales.