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REGISTERED NUMBER: 04058903 (England and Wales)














Financial Statements for the Year Ended 31 December 2023

for

Pommier Furgocar UK Limited

Pommier Furgocar UK Limited (Registered number: 04058903)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Report of the Independent Auditors 2

Income Statement 6

Other Comprehensive Income 7

Abridged Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


Pommier Furgocar UK Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M T Owen
J P Sauvy





SECRETARY: M T Owen





REGISTERED OFFICE: Unit L, Key Industrial Park
Fernside Road
Wednesfield
Wolverhampton
West Midlands
WV13 3YA





REGISTERED NUMBER: 04058903 (England and Wales)





AUDITORS: Mazars LLP
Chartered Accountants
and Statutory Auditor
2 Chamberlain Square
Birmingham
B3 3AX

Report of the Independent Auditors to the Members of
Pommier Furgocar UK Limited

Although the company is only required to file a Balance Sheet, requires the accompanying Report of the Auditors to be a copy of our report to the members on the company's full Financial Statements and Report of the Directors. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors, referred to in the copy of our Report of the Auditors, are not required to be filed with the Registrar of Companies.

Opinion
We have audited the financial statements of Pommier Furgocar UK Ltd (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the financial statements, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom generally Accepted Accounting Practice).

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the Directors' report, other than the financial statements and our auditor's report thereon. The Directors are responsible for the other information contained within the Directors' report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Pommier Furgocar UK Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:

- the information given in the Directors' report for the financial year for which the financial statement are prepared is consistent with the financial statements; and
- the Directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report.

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:
- adequate accounting records have not been kept, or 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
- we have not received all the information and explanations we require for our audit.
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Pommier Furgocar UK Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements are employment regulation, health and safety regulation and anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:
- Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;
- Inspecting correspondence, if any, with relevant licensing or regulatory authorities;
- Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and
- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation, pension legislation, the Companies Act 2006.

In addition, we evaluated the Directors' and management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of management override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, revenue recognition (which we pinpointed to the cut-off assertion), and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:
- Making enquiries of the Directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
- Gaining an understanding of the internal controls established to mitigate risks related to fraud;
- Discussing amongst the engagement team the risks of fraud; and
- Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Report of the Independent Auditors to the Members of
Pommier Furgocar UK Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Kurowski (Senior Statutory Auditor)
for and on behalf of Mazars LLP
Chartered Accountants
and Statutory Auditor
2 Chamberlain Square
Birmingham
B3 3AX

23 May 2024

Pommier Furgocar UK Limited (Registered number: 04058903)

Income Statement
for the Year Ended 31 December 2023

2023 2022
Notes £    £    £    £   

TURNOVER 4,171,003 3,627,487

Cost of sales 2,782,700 2,460,579
GROSS PROFIT 1,388,303 1,166,908

Distribution costs 125,329 116,941
Administrative expenses 709,980 719,892
835,309 836,833
OPERATING PROFIT 4 552,994 330,075

Interest receivable and similar income 9,379 1,184
PROFIT BEFORE TAXATION 562,373 331,259

Tax on profit 5 131,389 63,850
PROFIT FOR THE FINANCIAL YEAR 430,984 267,409

Pommier Furgocar UK Limited (Registered number: 04058903)

Other Comprehensive Income
for the Year Ended 31 December 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 430,984 267,409


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

430,984

267,409

Pommier Furgocar UK Limited (Registered number: 04058903)

Abridged Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 6 - -
Tangible assets 7 25,182 29,547
25,182 29,547

CURRENT ASSETS
Stocks 284,492 276,511
Debtors 1,345,448 871,305
Cash at bank and in hand 466,089 469,601
2,096,029 1,617,417
CREDITORS
Amounts falling due within one year 744,323 701,261
NET CURRENT ASSETS 1,351,706 916,156
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,376,888

945,703

PROVISIONS FOR LIABILITIES 8 2,548 2,347
NET ASSETS 1,374,340 943,356

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Retained earnings 1,344,340 913,356
SHAREHOLDERS' FUNDS 1,374,340 943,356

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the Board of Directors and authorised for issue on 23 May 2024 and were signed on its behalf by:





M T Owen - Director


Pommier Furgocar UK Limited (Registered number: 04058903)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 30,000 645,947 675,947

Changes in equity
Total comprehensive income - 267,409 267,409
Balance at 31 December 2022 30,000 913,356 943,356

Changes in equity
Total comprehensive income - 430,984 430,984
Balance at 31 December 2023 30,000 1,344,340 1,374,340

Pommier Furgocar UK Limited (Registered number: 04058903)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Pommier Furgocar UK 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.

The financial statements have been prepared on the going concern basis which assumes that the Company will continue in operational existence for the foreseeable future.

The financial statements are presented in Pound Sterling and are rounded to the nearest £1.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Revenue recognition
Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are dispatched to, or are picked up by, the customer and legal title has been passed.

Intangible assets - goodwill
Goodwill being the amount paid in connection with the acquisition of a business in 2012, has been fully amortised.

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.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings -Straight line over the life of the lease
Plant and machinery etc -20% on reducing balance

Depreciation is provided from the month in which the asset is purchased.

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

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.


Pommier Furgocar UK Limited (Registered number: 04058903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and equivalents
Cash and cash equivalents are basic financial assets and include cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method unless effect of discounting would be immaterial, in which case they are stated at cost.

Provisions
Provision for warranties and product liability are recognised when the company has a legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected as a result of the actual returns after the balance sheet date using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank loans and loans to related parties.

Financial assets, are assessed for indicators of impairment at the end of each reporting period for objective evidence of impairment. If objective evidence is found, an impairment loss is recognised in the Profit and Loss account.

For financial assets carried at amortised cost, the amount of the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount the company would receive for the asset if it was sold at the balance sheet date.

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.

Pommier Furgocar UK Limited (Registered number: 04058903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Leasing commitments
In the application of the Company's accounting policies, which are described in note 2, the Directors are required to make judgements, estimated and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experienced and other factors that are considered to be relevant. Actual results may differ from these estimates.

Assets acquired under finance leases are capitalised in the balance sheet and depreciated over the economic life of the asset or the lease term, whichever is shorter.

Rentals paid under operating leases are charged to the income statement over the term 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 income statement in the period to which they relate.

Significant judgements and estimates
Judgements in applying accounting policies and key sources of estimation uncertainty

The estimate and underlying assumptions are reviewed on an ongoing basis. Reversions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in that period of the revision and future periods if the revisions affects both current and future periods.

Key source of estimate
An allowance for impairment in relation to trade debtors are made where there is an identified an event which is evidence of a reduction in the recoverability of the trade debtor balance.

Inventory provisioning
The Group and Company maintains sufficient stock levels to maintain an excellent customer service. As a result it is necessary to consider the recoverability of the cost of inventory and the associated provisioning required. When calculating the inventory provision, management considers the nature and condition of the inventory, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials.

Rent provisioning
The Group and the Company have estimated the rent provision based on discussions with the landlord and a surveyors report carried out by a RICS Chartered Surveyor.

Critical judgements in applying the Company's accounting policies
The Directors have considered whether the value of any of the Company's assets needs to be reduced as a result of impairment; their judgement was based on estimating the future economic benefits flowing from these assets. No such impairment was deemed necessary in preparation of these financial statements.

Exemption from preparing a cashflow statement
Exemption has been taken from preparing a cashflow statement on the grounds that the company qualifies as a small company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Pommier Furgocar UK Limited (Registered number: 04058903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 4,090 4,268
Other operating leases 13,735 16,401
Depreciation - owned assets 5,502 4,978
Auditors' remuneration 16,350 15,499
Foreign exchange differences 394 8,989
Rent 93,048 107,878

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 133,000 63,000
Prior year under/over
provision (1,812 ) (360 )
Total current tax 131,188 62,640

Deferred tax 201 1,210
Tax on profit 131,389 63,850

6. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023
and 31 December 2023 30,000
AMORTISATION
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE

At 31 December 2023 -
At 31 December 2022 -

Pommier Furgocar UK Limited (Registered number: 04058903)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 260,310
Additions 1,137
At 31 December 2023 261,447
DEPRECIATION
At 1 January 2023 230,763
Charge for year 5,502
At 31 December 2023 236,265
NET BOOK VALUE
At 31 December 2023 25,182
At 31 December 2022 29,547

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,548 2,347

Deferred
tax
£   
Balance at 1 January 2023 2,347
Accelerated capital allowances 201
Balance at 31 December 2023 2,548

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30,000 Ordinary £1 30,000 30,000

10. RELATED PARTY DISCLOSURES

Pommier S.A.S has guaranteed the rent due on the unit from which the company operates at £96,074 per annum. Purchases from companies in the Pommier Group totalled £2,201,094 (2022 - £1,633,234). The year end net amount owed from group companies totalled £135,171 (2022 - £16,831).

11. ULTIMATE HOLDING COMPANY

The immediate parent undertaking of Pommier Furgocar UK Limited is Pommier SAS.

The largest group in which the financial statements of the company are consolidated is that headed by the ultimate parent undertaking and ultimate controlling party, Pommier Evolution.