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REGISTERED NUMBER: 05263457 (England and Wales)















Financial Statements

for the Year Ended 31 December 2023

for

FAHRNI (UK) LTD

FAHRNI (UK) LTD (REGISTERED NUMBER: 05263457)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FAHRNI (UK) LTD

Company Information
for the year ended 31 December 2023







Directors: P Schwarz
M Fournier



Registered office: Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA



Registered number: 05263457 (England and Wales)



Auditors: Cooper Parry Group Limited
Statutory Auditors
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA



Bankers: National Westminster Bank PLC
Bishopgate
P.O.Box 34
15 Bishopsgate
London
EC2P 2AP

FAHRNI (UK) LTD (REGISTERED NUMBER: 05263457)

Statement of Financial Position
31 December 2023

2023 2022
Notes £ £
Current assets
Debtors 6 12,035 7,670
Cash at bank 1,624 27,916
13,659 35,586
Creditors
Amounts falling due within one year 7 10,956 15,112
Net current assets 2,703 20,474
Total assets less current liabilities 2,703 20,474

Capital and reserves
Called up share capital 8 100 100
Retained earnings 2,603 20,374
Shareholders' funds 2,703 20,474

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 2 August 2024 and were signed on its behalf by:





M Fournier - Director


FAHRNI (UK) LTD (REGISTERED NUMBER: 05263457)

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


1. Statutory information

Fahrni (UK) 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.

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.

Going Concern
The financial statements have been prepared on a going concern basis. The directors have considered therelevant information including the Group annual budget, and have considered the company's available resources. Additionally, the company's parent has provided confirmation that it will continue to provide financial support necessary for the company to continue to operate for the foreseeable future.

Based on these assessments, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There are no cases of judgement and estimation uncertainty in the current or prior year.

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 - 25% on cost

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

FAHRNI (UK) LTD (REGISTERED NUMBER: 05263457)

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


2. Accounting policies - continued

Turnover and revenue recognition
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is based on valuation of the work carried out to date after discounts and retentions but excluding value added tax and represents amounts derived from the ordinary activities of the company.

Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers, after discounts and retentions but excluding value added tax.

Revenue is recognised under the terms of the contract as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed during the accounting period.

Revenue also includes half of all retentions withheld on incomplete contracts which are included in debtors. It is considered true and fair by management not to take account of the remaining 50% of retentions until work on the contracts has been completed and these residual retentions have been returned on the basis that they are recoverable subject to satisfactory completion of any rectification work. There were no amounts recoverable in respect of the current accounting period due to all work performed having been certified and billed before the end of the accounting period.

3. Employees and directors

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

4. Auditors' remuneration

The charge for the audit of the companies financial statements was £8,263 (2022: £5,125).

5. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 January 2023
and 31 December 2023 1,087
Depreciation
At 1 January 2023
and 31 December 2023 1,087
Net book value
At 31 December 2023 -
At 31 December 2022 -

6. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 12,035 7,670

FAHRNI (UK) LTD (REGISTERED NUMBER: 05263457)

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


7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,806 7,612
Other creditors 9,150 7,500
10,956 15,112

8. Called up share capital

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

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

The Report of the Auditors was unqualified.

Paul Hodgett (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

10. Related party disclosures

In respect of contracts undertaken by Fahrni (UK) Ltd during the accounting period, in addition to manufacturing and supplying all goods, the parent company could also provide guarantees to United Kingdom banks and insurance companies for performance bonds. No such guarantees were in place at the year end.

11. Ultimate controlling party

Fahrni (UK) Limited was wholly owned by Fahrni Fassadensysteme AG, a company resident in Switzerland.

The ultimate controlling party as at 31 December 2023 was Pascal Schwarz, a Director of Fahrni (UK) Limited, through his ownership of all shares in the ultimate parent company, SBIH AG, which wholly owns Fahrni Fassadensysteme AG.

SBIH AG is registered in Switzerland and Pascal Schwarz is a resident in Switzerland.