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REGISTERED NUMBER: 01230401 (England and Wales)















FATA AUTOMATION LIMITED

Financial Statements for the Year Ended 31 December 2023






FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


FATA AUTOMATION LIMITED

Company Information
for the year ended 31 December 2023







Director: F Marucci





Registered office: Elgar House
Shrub Hill Road
Worcester
WR4 9EE





Registered number: 01230401 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
CUBO Birmingham
Office 401, 4th Floor
Birmingham
West Midlands
B3 3AX

FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 5,794 14,214

Current assets
Debtors 5 1,815,867 401,296
Cash at bank and in hand 839,115 1,746,346
2,654,982 2,147,642
Creditors
Amounts falling due within one year 6 1,288,436 1,134,657
Net current assets 1,366,546 1,012,985
Total assets less current liabilities 1,372,340 1,027,199

Provisions for liabilities 8 2,000 2,000
Net assets 1,370,340 1,025,199

Capital and reserves
Called up share capital 2 2
Retained earnings 1,370,338 1,025,197
Shareholders' funds 1,370,340 1,025,199

FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 3 April 2024 and were signed by:





F Marucci - Director


FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Notes to the Financial Statements
for the year ended 31 December 2023

1. Statutory information

Fata Automation 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.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future having reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents the costs applied to contracts in the period, together with an estimate of attributable profit, less foreseeable losses. Attributable profit is an assessment of the overall profit earned on a contract relative to the stage of completion. Foreseeable loss is the estimated loss on the completed contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost
Computer equipment - 33% on cost

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 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.

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.

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.

Pension costs
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.

FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

Long term contracts
Where the outcome of a long-term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date, as measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Warranty provision
A warranty provision is established to recognise known and expected claims against delivered products within the contractual warranty period for such sales. The provision is calculated based on historical warranty costs and timing of such costs and applies to sales within the relevant period.

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit or loss.

There are no assets which are initially measured at fair value.

Financial Liabilities
Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3. Employees and directors

The average number of employees during the year was 7 (2022 - 8 ) .

FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. Tangible fixed assets
Office Computer
equipment equipment Totals
£ £ £
Cost
At 1 January 2023 13,575 47,792 61,367
Disposals - (2,946 ) (2,946 )
At 31 December 2023 13,575 44,846 58,421
Depreciation
At 1 January 2023 5,510 41,643 47,153
Charge for year 3,697 4,723 8,420
Eliminated on disposal - (2,946 ) (2,946 )
At 31 December 2023 9,207 43,420 52,627
Net book value
At 31 December 2023 4,368 1,426 5,794
At 31 December 2022 8,065 6,149 14,214

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 1,022,772 287,358
Amounts recoverable on contract 748,569 71,310
Other debtors 2,031 -
Tax - 25,094
Prepayments 42,495 17,534
1,815,867 401,296

6. Creditors: amounts falling due within one year
2023 2022
£ £
Payments on account 680,089 843,603
Trade creditors 439,614 72,140
Social security and other taxes 14,695 18,719
VAT 61,643 79,679
Other creditors 4,063 4,452
Accruals and deferred income 88,332 116,064
1,288,436 1,134,657

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 12,447 19,954
Between one and five years - 12,447
12,447 32,401

FATA AUTOMATION LIMITED (REGISTERED NUMBER: 01230401)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

8. Provisions for liabilities
2023 2022
£ £
Other provisions 2,000 2,000

Warranty
Provision
£
Balance at 1 January 2023 2,000
Movement during year
Balance at 31 December 2023 2,000

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Report of the Auditors was unqualified.

Andrew Hughes FCA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

10. Related party disclosures

During the year purchases of £43,582 (2022: £58,581), occurred between FATA Automation Limited and a related company.
Amounts owed to this related company at the year-end were £nil (2022: £nil).

During the year purchases of £15,623 (2022: £12,628) and sales of £13,000 (2022: £535,524) occurred between FATA Automation Limited and a related company.
Amounts owed by this related company at the year-end were £nil (2022: £161,954) and included in trade debtors.

11. Ultimate controlling party

The ultimate parent undertaking is MA.DA. S.p.A and CIEM S.p.A.

There is no ultimate controlling party, as no single party holds a controlling share in the Company.