REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended |
31 December 2023 |
for |
Fiocchi United Kingdom Limited |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended |
31 December 2023 |
for |
Fiocchi United Kingdom Limited |
Fiocchi United Kingdom Limited (Registered number: 06221537) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Fiocchi United Kingdom Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Church Court |
Stourbridge Road |
Halesowen |
West Midlands |
B63 3TT |
Fiocchi United Kingdom Limited (Registered number: 06221537) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Fiocchi United Kingdom Limited (Registered number: 06221537) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Fiocchi United Kingdom Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
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. |
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. |
Fiocchi United Kingdom Limited (Registered number: 06221537) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Fiocchi United Kingdom Limited (Registered number: 06221537) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
8. | OTHER FINANCIAL COMMITMENTS |
At the balance sheet date, the company had financial commitments not included in the balance sheet amounting to £28,298 (2022 - £33,258). |
9. | RELATED PARTY DISCLOSURES |
Owners holding a participating interest: |
During the year, the company purchased goods from its ultimate parent company amounting to £5,319,519 (2022 - £6,047,339) and sold goods and services to its parent company amounting to £4,302 (2022 - £13,992). The company paid dividends to its ultimate parent company amounting to £nil (2022 - £225,000). At the balance sheet date, the company owed its parent company £1,074,217 (2022 - £1,899,119). |
During the year, the company purchased goods from its parent company amounting to £869,774 (2022 - £nil) and sold goods and services to its parent company amounting to £642,223 (2022 - £nil). At the balance sheet date, the company owed its parent company £807,919 (2022 - £209,974 owed by). |
Other group companies: |
During the year, the company purchased goods from other group companies amounting to £1,070,829 (2022 - £566,807) and sold goods to other group companies amounting to £nil (2022 - 206,182). At the balance sheet date, other group companies owed the company £nil (2022 - £290,974) and the company owed other group companies £185,940 (2022 - £177,340). |
Directors: |
At the balance sheet date, the directors were owed £1,138 (2022 - £979). |
10. | POST BALANCE SHEET EVENTS |
On 1 January 2024 the company's trade, assets and liabilities were transferred to its immediate parent company Lyalvale Express Limited. |
11. | ULTIMATE PARENT COMPANY |
The ultimate parent company is Fiocchi Munizioni SpA. Group accounts can be obtained from the registered office; |
via Santa Barbara 4, 23900 Lecco (LC), Italy. |
The largest group which group accounts are prepared for is Fiocchibi SrL. Group accounts can be obtained from the registered office; |
Corso Italia 22, 20122 Milano, Italy. |
The ultimate holding company is C3F SpA incorporated in Italy. |