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REGISTERED NUMBER: 12300299 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Fournier Polymers Limited

Fournier Polymers Limited (Registered number: 12300299)






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


Fournier Polymers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: B Fournier





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: 11 Old Jewry
C/o Pramex International
London
EC2R 8DU





REGISTERED NUMBER: 12300299 (England and Wales)





AUDITORS: MAZARS LLP
Chartered Accountants and Statutory Auditors
1st Floor
2 Chamberlain Square
Birmingham
B3 3AX

Fournier Polymers Limited (Registered number: 12300299)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 205,690 231,402
Tangible assets 5 18,143 30,238
223,833 261,640

CURRENT ASSETS
Stocks 6 784,956 643,372
Debtors 7 747,911 936,266
Cash at bank 400,395 302,482
1,933,262 1,882,120
CREDITORS
Amounts falling due within one year 8 1,403,714 1,101,116
NET CURRENT ASSETS 529,548 781,004
TOTAL ASSETS LESS CURRENT
LIABILITIES

753,381

1,042,644

CREDITORS
Amounts falling due after more than
one year

9

990,021

1,253,245
NET LIABILITIES (236,640 ) (210,601 )

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Retained earnings (246,640 ) (220,601 )
SHAREHOLDERS' FUNDS (236,640 ) (210,601 )

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 director and authorised for issue on 27 August 2024 and were signed by:




B Fournier - Director


Fournier Polymers Limited (Registered number: 12300299)

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

1. STATUTORY INFORMATION

Fournier Polymers 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.

All amounts are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities
that are not readily apparent from other sources. The estimates and associated assumptions
are based on historical experience and other factors that are considered to be relevant.
Actual results may differ from these estimates.

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

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

Risks and rewards are deemed to be transferred based on the incoterm of the sale. Either it is on receipt of goods at the warehouse (DDP) or upon arrival to the harbour (FCA).
Therefore, revenue is recognised at the point where the customer receives the goods based on the incoterm of the sale.

Goodwill
Goodwill represents the difference between amounts paid on the cost of an asset acquisition and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

The estimated useful lives range as follows:

Goodwill - 10 years

No amortisation is provided on goodwill as the Company does not expect to receive the economic benefits
associated with this asset until trading operations commence.

Fournier Polymers Limited (Registered number: 12300299)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicule : 33% straight line

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

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 balance sheet 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 debtors, loans from fellow group companies, 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


Fournier Polymers Limited (Registered number: 12300299)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.
The Net Book Value of assets under Hire Purchase agreements amounts to £30,238

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 the Income Statement in the period to which they relate.

Going concern
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts and for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Fournier Polymers Limited (Registered number: 12300299)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 257,113
AMORTISATION
At 1 January 2023 25,711
Amortisation for year 25,712
At 31 December 2023 51,423
NET BOOK VALUE
At 31 December 2023 205,690
At 31 December 2022 231,402

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 36,285
DEPRECIATION
At 1 January 2023 6,047
Charge for year 12,095
At 31 December 2023 18,142
NET BOOK VALUE
At 31 December 2023 18,143
At 31 December 2022 30,238

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 784,956 643,372

Fournier Polymers Limited (Registered number: 12300299)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 737,412 925,394
Prepayments 10,499 10,872
747,911 936,266

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,096,526 908,240
Finance lease and HP contract 10,230 8,753
Social security and other taxes 557 2,378
VAT 243,060 174,808
Accruals 53,341 6,937
1,403,714 1,101,116

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Finance lease and HP contracts 5,191 15,420
Amounts owed to group undertakings 984,830 1,237,825
990,021 1,253,245

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
10,000 Ordinary £10 10,000 10,000

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

The Report of the Auditors was unqualified.

Aidan Scollard (Senior Statutory Auditor)
for and on behalf of MAZARS LLP

12. CAPITAL COMMITMENTS

The company had no material capital commitments at the financial year-ended 31 December 2023

Fournier Polymers Limited (Registered number: 12300299)

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

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. POST BALANCE SHEET EVENTS

There have been no significant events affecting the company since the financial year.

15. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Fournier Plastic Group S.L., a registered company in Spain.
Consolidated financial statements have been prepared by Fournier Plastic Group S.L., copies of these financial statements may be obtained from Juan Pablo II, No. 35, Planta 10a, Torre Aragonia , 50009, Zaragoza, Spain.

The company's ultimate controlling party is Fournier S.A. (France), a registered company in France.