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REGISTERED NUMBER: 13981229 (England and Wales)










FBA UK OPERATING LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

16 MARCH 2022 TO 31 DECEMBER 2022






FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FBA UK OPERATING LTD

COMPANY INFORMATION
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022







DIRECTORS: H Ackermann
M Rhodes





REGISTERED OFFICE: 16 Axis Court Riverside Business Park
Swansea Vale
Swansea
SA7 0AJ





REGISTERED NUMBER: 13981229 (England and Wales)





AUDITORS: Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)

BALANCE SHEET
31 DECEMBER 2022

Notes £   
CURRENT ASSETS
Debtors 4 12,358
Cash at bank 7,845
20,203
CREDITORS
Amounts falling due within one year 5 18,417
NET CURRENT ASSETS 1,786
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,786

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 1,686
1,786

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 12 March 2024 and were signed on its behalf by:





M Rhodes - Director


FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022

1. STATUTORY INFORMATION

Fba Uk Operating Ltd 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
The company's results for the period are set out in the income statement. The company's profit after tax for the period was £1,686.

In adopting the going concern basis for the preparation of the financial statements, the directors have made appropriate enquiries and have considered the Company's cash flows and available resources.

The company is reliant on the support of the ultimate parent and Group to continue to operate in the short and medium term.

The parent and Group companies continue to provide financial and operational support, and assurances have been given that this support will remain until at minimum of 12 months from the date of signing this audit report.

As a result of this ongoing support the Directors believe the Going Concern basis to be appropriate for the financial statements to 30/12/2022, but acknowledge that without this support there would be a material uncertainty around going concern.

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

Turnover includes revenue earned from the sales of goods through Amazon eCommerce.

Taxation
Taxation for the period 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 period 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.

FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, and loans from fellow group companies 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.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022

2. ACCOUNTING POLICIES - continued
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Functional and presentation currency
The company's functional and presentation currency is pounds sterling.

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 resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 302
Amounts owed by group undertakings 100
Other debtors 11,956
12,358

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed to group undertakings 10,372
Taxation and social security 395
Other creditors 7,650
18,417

FBA UK OPERATING LTD (REGISTERED NUMBER: 13981229)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 MARCH 2022 TO 31 DECEMBER 2022

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion
We were not appointed as auditors of the company until after 31 December 2022 and thus did not observe the counting of physical inventories at the beginning and end of the period. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2022, which are stated in the statements of financial position at £nil with a £7,482 intercompany creditor in relation to the transfer of stock. As at the date of our report, management have rectified the system deficiencies and have confirmed the stock figure will be accurate for the year ended 31 December 2023.

Matters required to report by exception
We have nothing to report in respect of the following matters in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion:
- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Michael Jones (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP