Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falsethe production and distribution of batteries and accumulators for motor vehicles45truetrue 03107431 2022-01-01 2022-12-31 03107431 2021-01-01 2021-12-31 03107431 2022-12-31 03107431 2021-12-31 03107431 c:Director1 2022-01-01 2022-12-31 03107431 c:Director2 2022-01-01 2022-12-31 03107431 c:RegisteredOffice 2022-01-01 2022-12-31 03107431 d:PlantMachinery 2022-01-01 2022-12-31 03107431 d:FurnitureFittings 2022-01-01 2022-12-31 03107431 d:FurnitureFittings 2022-12-31 03107431 d:FurnitureFittings 2021-12-31 03107431 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 03107431 d:CurrentFinancialInstruments 2022-12-31 03107431 d:CurrentFinancialInstruments 2021-12-31 03107431 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03107431 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03107431 d:ShareCapital 2022-12-31 03107431 d:ShareCapital 2021-12-31 03107431 d:RetainedEarningsAccumulatedLosses 2022-12-31 03107431 d:RetainedEarningsAccumulatedLosses 2021-12-31 03107431 c:FRS102 2022-01-01 2022-12-31 03107431 c:Audited 2022-01-01 2022-12-31 03107431 c:FullAccounts 2022-01-01 2022-12-31 03107431 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03107431 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 03107431 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 03107431










FIAMM UK LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
FIAMM UK LIMITED
 
 
COMPANY INFORMATION


Directors
P  Balbo 
M Zanini 




Registered number
03107431



Registered office
Unit 12a
Ridings Park Eastern Way

Hawkes Green

Cannock

Staffordshire

WS11 7FJ




Independent auditors
Simmons Gainsford LLP
Chartered Accountants & Statutory Auditors

14th Floor

33 Cavendish Square

London

W1G 0PW





 
FIAMM UK LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8


 
FIAMM UK LIMITED
REGISTERED NUMBER: 03107431

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
10
693

  
10
693

Current assets
  

Debtors: amounts falling due within one year
 5 
323,495
197,889

Bank and cash balances
  
53,452
66,244

  
376,947
264,133

Creditors: amounts falling due within one year
 6 
(192,607)
(150,289)

Net current assets
  
 
 
184,340
 
 
113,844

Total assets less current liabilities
  
184,350
114,537

Provisions for liabilities
  

Deferred tax
  
(324)
(324)

  
 
 
(324)
 
 
(324)

Net assets
  
184,026
114,213


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Profit and loss account
  
179,026
109,213

  
184,026
114,213


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Zanini
Director

Page 1

 
FIAMM UK LIMITED
REGISTERED NUMBER: 03107431
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

Date: 31 March 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The company is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is Unit 12a Ridings Park Eastern Way, Hawkes Green, Cannock, Staffordshire, WS11 7FJ .

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

There are no material uncertainties regarding going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Pensions

Defined contibution pension scheme 
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 payment obligations.
.
The contributions are recognised as an expense in profit or loss 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.

Page 4

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 5).

Page 6

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2022
80,485


Disposals
(5,226)



At 31 December 2022

75,259



Depreciation


At 1 January 2022
79,792


Charge for the year on owned assets
683


Disposals
(5,226)



At 31 December 2022

75,249



Net book value



At 31 December 2022
10



At 31 December 2021
693


5.


Debtors

2022
2021
£
£


Trade debtors
15,869
9,643

Amounts owed by group undertakings
293,459
164,032

Other debtors
6,004
14,704

Prepayments and accrued income
8,163
9,510

323,495
197,889


Page 7

 
FIAMM UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
2,473
5,871

Amounts owed to group undertakings
43,209
58,879

Corporation tax
100,243
44,823

Other creditors
4,965
5,418

Accruals and deferred income
41,717
35,298

192,607
150,289



7.


Controlling party

The immediate controlling party is Fiamm Energy Technology S.P.A., a company incorporated in Italy. The group financial statements, in which these financial statements have been consolidated are available from Viale Europa 75, 36075 Montecchio Maggiore (Vincenza) - Italy.
The ultimate controlling party is Resonac Holdings Corporation (formally known as Showa Denko K.K), a company listed on the Tokyo Stock Exchange, whose address is 13-9, Shiba Daimon 1-Chome, Minato-Ku, Tokyo, Japan. This is the largest company in which these financial statements are consolidated.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 31 March 2023 by Shilen Manek ACA FCCA (Senior statutory auditor) on behalf of Simmons Gainsford LLP.

 
Page 8