IRIS Accounts Production v24.1.9.2 04082871 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1p 0.01000 Ordinary 1p 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040828712022-12-31040828712023-12-31040828712023-01-012023-12-31040828712021-12-31040828712022-01-012022-12-31040828712022-12-3104082871ns15:EnglandWales2023-01-012023-12-3104082871ns14:PoundSterling2023-01-012023-12-3104082871ns10:Director12023-01-012023-12-3104082871ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3104082871ns10:SmallEntities2023-01-012023-12-3104082871ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3104082871ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3104082871ns10:FullAccounts2023-01-012023-12-3104082871ns10:OrdinaryShareClass22023-01-012023-12-3104082871ns10:Director22023-01-012023-12-3104082871ns10:Director32023-01-012023-12-3104082871ns10:Director42023-01-012023-12-3104082871ns10:CompanySecretary12023-01-012023-12-3104082871ns10:RegisteredOffice2023-01-012023-12-3104082871ns5:CurrentFinancialInstruments2023-12-3104082871ns5:CurrentFinancialInstruments2022-12-3104082871ns5:ShareCapital2023-12-3104082871ns5:ShareCapital2022-12-3104082871ns5:CapitalRedemptionReserve2023-12-3104082871ns5:CapitalRedemptionReserve2022-12-3104082871ns5:RetainedEarningsAccumulatedLosses2023-12-3104082871ns5:RetainedEarningsAccumulatedLosses2022-12-3104082871ns5:FurnitureFittings2023-01-012023-12-3104082871ns5:ComputerEquipment2023-01-012023-12-3104082871ns5:FurnitureFittings2022-12-3104082871ns5:ComputerEquipment2022-12-3104082871ns5:FurnitureFittings2023-12-3104082871ns5:ComputerEquipment2023-12-3104082871ns5:FurnitureFittings2022-12-3104082871ns5:ComputerEquipment2022-12-3104082871ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104082871ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104082871ns5:WithinOneYear2023-12-3104082871ns5:WithinOneYear2022-12-3104082871ns5:BetweenOneFiveYears2023-12-3104082871ns5:BetweenOneFiveYears2022-12-3104082871ns5:AllPeriods2023-12-3104082871ns5:AllPeriods2022-12-3104082871ns10:OrdinaryShareClass22023-12-31
REGISTERED NUMBER: 04082871 (England and Wales)





















FG LIBRARY PRODUCTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

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


FG LIBRARY PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B D Daisy
D Griffin
Mrs C L Daisy
J S Hughes





SECRETARY: Mrs C L Daisy





REGISTERED OFFICE: Seebeck House
1 Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR





REGISTERED NUMBER: 04082871 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 28,179 30,236

CURRENT ASSETS
Stocks 39,992 46,972
Debtors 5 569,076 637,352
Cash at bank 576,243 741,840
1,185,311 1,426,164
CREDITORS
Amounts falling due within one year 6 499,643 727,356
NET CURRENT ASSETS 685,668 698,808
TOTAL ASSETS LESS CURRENT LIABILITIES 713,847 729,044

PROVISIONS FOR LIABILITIES 6,891 7,371
NET ASSETS 706,956 721,673

CAPITAL AND RESERVES
Called up share capital 8 51 51
Capital redemption reserve 49 49
Retained earnings 706,856 721,573
SHAREHOLDERS' FUNDS 706,956 721,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





B D Daisy - Director


FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

FG Library Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Revenues are recognised once risks and rewards of ownership have passed to the buyer, and the costs
incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Equipment - 15% on reducing balance

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

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.

FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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 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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Equipment Totals
£    £    £   
COST
At 1 January 2023 78,932 22,613 101,545
Additions - 6,912 6,912
At 31 December 2023 78,932 29,525 108,457
DEPRECIATION
At 1 January 2023 63,141 8,168 71,309
Charge for year 3,949 5,020 8,969
At 31 December 2023 67,090 13,188 80,278
NET BOOK VALUE
At 31 December 2023 11,842 16,337 28,179
At 31 December 2022 15,791 14,445 30,236

FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 483,572 536,776
Amounts owed by participating interests - 100,000
Other debtors 85,504 576
569,076 637,352

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 258,528 549,505
Taxation and social security 25,747 52,865
Other creditors 215,368 124,986
499,643 727,356

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,086 11,551
Between one and five years 54,685 6,188
84,771 17,739

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
5,100 Ordinary 1p 1p 51 51

9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions of £1,865 (2022 - £1,322) were payable to the fund at the balance sheet date.

10. CONTINGENT LIABILITIES

A cross guarantee and debenture by and between FG Library Products Limited and other members of the group exists in relation to a bank overdraft facility of £50,000 for FG3 Manufacturing Limited and £50,000 for Frem Limited.

FG LIBRARY PRODUCTS LIMITED (REGISTERED NUMBER: 04082871)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


11. RELATED PARTY DISCLOSURES

The company is an associate of Frem Group Limited, whose registered office address is:

Seebeck House
1 Seebeck Place
Knowlhill
Milton Keynes
Buckinghamshire
MK5 8FR

AMOUNTS OWED BY RELATED UNDERTAKINGS

Amounts owed by associated undertakings includes £0 (2022 - £100,000) due from Frem Limited, a member of the Frem Group Limited group.

12. ULTIMATE CONTROLLING PARTY

At 31 December 2023, there is no ultimate controlling party.