IRIS Accounts Production v23.2.0.158 NI634232 Board of Directors Board of Directors 1.1.22 31.12.22 31.12.22 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureNI6342322021-12-31NI6342322022-12-31NI6342322022-01-012022-12-31NI6342322020-12-31NI6342322021-01-012021-12-31NI6342322021-12-31NI634232ns16:NorthernIreland2022-01-012022-12-31NI634232ns15:PoundSterling2022-01-012022-12-31NI634232ns11:Director12022-01-012022-12-31NI634232ns11:Director22022-01-012022-12-31NI634232ns11:PrivateLimitedCompanyLtd2022-01-012022-12-31NI634232ns11:SmallEntities2022-01-012022-12-31NI634232ns11:AuditExempt-NoAccountantsReport2022-01-012022-12-31NI634232ns11:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-31NI634232ns11:SmallCompaniesRegimeForAccounts2022-01-012022-12-31NI634232ns11:FullAccounts2022-01-012022-12-31NI63423212022-01-012022-12-31NI634232ns11:RegisteredOffice2022-01-012022-12-31NI634232ns6:CurrentFinancialInstruments2022-12-31NI634232ns6:CurrentFinancialInstruments2021-12-31NI634232ns6:Non-currentFinancialInstruments2022-12-31NI634232ns6:Non-currentFinancialInstruments2021-12-31NI634232ns6:ShareCapital2022-12-31NI634232ns6:ShareCapital2021-12-31NI634232ns6:RetainedEarningsAccumulatedLosses2022-12-31NI634232ns6:RetainedEarningsAccumulatedLosses2021-12-31NI634232ns6:NetGoodwill2022-01-012022-12-31NI634232ns6:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-31NI634232ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-01-012022-12-31NI634232ns6:PlantMachinery2022-01-012022-12-31NI634232ns6:FurnitureFittings2022-01-012022-12-31NI634232ns6:ComputerEquipment2022-01-012022-12-31NI634232ns6:NetGoodwill2021-12-31NI634232ns6:NetGoodwill2022-12-31NI634232ns6:NetGoodwill2021-12-31NI634232ns6:LandBuildings2021-12-31NI634232ns6:PlantMachinery2021-12-31NI634232ns6:FurnitureFittings2021-12-31NI634232ns6:ComputerEquipment2021-12-31NI634232ns6:LandBuildings2022-01-012022-12-31NI634232ns6:LandBuildings2022-12-31NI634232ns6:PlantMachinery2022-12-31NI634232ns6:FurnitureFittings2022-12-31NI634232ns6:ComputerEquipment2022-12-31NI634232ns6:LandBuildings2021-12-31NI634232ns6:PlantMachinery2021-12-31NI634232ns6:FurnitureFittings2021-12-31NI634232ns6:ComputerEquipment2021-12-31NI634232ns6:CostValuationns6:UnlistedNon-exchangeTraded2021-12-31NI634232ns6:UnlistedNon-exchangeTraded2022-12-31NI634232ns6:UnlistedNon-exchangeTraded2021-12-31NI634232ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-31NI634232ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-31NI634232ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-12-31NI634232ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-12-31
REGISTERED NUMBER: NI634232 (Northern Ireland)















FPFFM LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022






FPFFM LTD (REGISTERED NUMBER: NI634232)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FPFFM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: Fergus Bain
Louis Murray





REGISTERED OFFICE: 28 Northland Row
Dungannon
Co. Tyrone
BT71 6AP





REGISTERED NUMBER: NI634232 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

FPFFM LTD (REGISTERED NUMBER: NI634232)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

2022 2021
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 201,790 258,148
Property, plant and equipment 6 931,668 946,329
Investments 7 218,500 218,500
1,351,958 1,422,977

CURRENT ASSETS
Inventories 107,437 64,125
Receivables 8 343,792 133,561
Cash at bank and in hand 196,492 198,531
647,721 396,217
PAYABLES
Amounts falling due within one year 9 (331,467 ) (301,614 )
NET CURRENT ASSETS 316,254 94,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,668,212

1,517,580

PAYABLES
Amounts falling due after more than
one year

10

(275,437

)

(353,455

)

PROVISIONS FOR LIABILITIES (84,664 ) (18,430 )
NET ASSETS 1,308,111 1,145,695

CAPITAL AND RESERVES
Called up share capital 202 202
Retained earnings 1,307,909 1,145,493
1,308,111 1,145,695

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

FPFFM LTD (REGISTERED NUMBER: NI634232)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 September 2023 and were signed on its behalf by:




Louis Murray - Director



Fergus Bain - Director


FPFFM LTD (REGISTERED NUMBER: NI634232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

FPFFM Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Nil
Plant and machinery - 15% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 25% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FPFFM LTD (REGISTERED NUMBER: NI634232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

3. ACCOUNTING POLICIES - continued

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2021 - 39 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 January 2022
and 31 December 2022 563,580
AMORTISATION
At 1 January 2022 305,432
Amortisation for year 56,358
At 31 December 2022 361,790
NET BOOK VALUE
At 31 December 2022 201,790
At 31 December 2021 258,148

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 January 2022
and 31 December 2022 849,329 118,346 70,565 18,373 1,056,613
DEPRECIATION
At 1 January 2022 - 52,097 40,920 17,267 110,284
Charge for year - 9,937 4,447 277 14,661
At 31 December 2022 - 62,034 45,367 17,544 124,945
NET BOOK VALUE
At 31 December 2022 849,329 56,312 25,198 829 931,668
At 31 December 2021 849,329 66,249 29,645 1,106 946,329

FPFFM LTD (REGISTERED NUMBER: NI634232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

7. FIXED ASSET INVESTMENTS
Unlisted
investments
£
COST
At 1 January 2022
and 31 December 2022 218,500
NET BOOK VALUE
At 31 December 2022 218,500
At 31 December 2021 218,500

8. RECEIVABLES
2022 2021
£ £
Trade receivables 335,030 131,266
Other receivables 8,762 2,295
343,792 133,561

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Bank loans and overdrafts (see note 11)
74,868

55,892
Trade payables 99,151 83,635
Taxation and social security 109,395 119,699
Other payables 48,053 42,388
331,467 301,614

10. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2022 2021
£ £
Bank loans (see note 11) 275,437 353,455

11. LOANS

An analysis of the maturity of loans is given below:

2022 2021
£ £
Amounts falling due within one year or on demand:
Bank loans 74,868 55,892

Amounts falling due between one and two years:
Bank loans - 1-2 years 275,437 353,455

The bank loan and overdrafts are secured by way of a charge over property held by the company.

A Bounce Back Loan of £35,734 (2021: £44,496) is guaranteed by the UK government.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a balance of £12,505 was owing to the company in respect of monies advanced to the directors. (2021: £7,012 was owed to the directors by the company)