1. The problem is to simplify the fraction $\frac{1}{4}$. 2. The fraction $\frac{1}{4}$ means one part out of four equal parts. 3. Since $1$ and $4$ have no common factors other than $1$, the fraction is already in its simplest form. 4. Therefore, the simplified form of $\frac{1}{4}$ is $\frac{1}{4}$. Final answer: $\frac{1}{4}$