FPZ UK Limited 5271653 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the production and sale of regenerative / side-channel blowers for the movement of air and technical gases Digita Accounts Production Advanced 6.30.9574.0 true false true 5271653 2023-01-01 2023-12-31 5271653 2023-12-31 5271653 bus:OrdinaryShareClass1 2023-12-31 5271653 core:RetainedEarningsAccumulatedLosses 2023-12-31 5271653 core:ShareCapital 2023-12-31 5271653 core:CurrentFinancialInstruments 2023-12-31 5271653 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 5271653 core:BetweenTwoFiveYears 2023-12-31 5271653 core:WithinOneYear 2023-12-31 5271653 core:FurnitureFittingsToolsEquipment 2023-12-31 5271653 core:OtherPropertyPlantEquipment 2023-12-31 5271653 bus:SmallEntities 2023-01-01 2023-12-31 5271653 bus:Audited 2023-01-01 2023-12-31 5271653 bus:FilletedAccounts 2023-01-01 2023-12-31 5271653 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 5271653 bus:RegisteredOffice 2023-01-01 2023-12-31 5271653 bus:Director2 2023-01-01 2023-12-31 5271653 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 5271653 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 5271653 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 5271653 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 5271653 core:ParentEntities 2023-01-01 2023-12-31 5271653 1 2023-01-01 2023-12-31 5271653 countries:EnglandWales 2023-01-01 2023-12-31 5271653 2022-12-31 5271653 core:FurnitureFittingsToolsEquipment 2022-12-31 5271653 core:OtherPropertyPlantEquipment 2022-12-31 5271653 2022-01-01 2022-12-31 5271653 2022-12-31 5271653 bus:OrdinaryShareClass1 2022-12-31 5271653 core:RetainedEarningsAccumulatedLosses 2022-12-31 5271653 core:ShareCapital 2022-12-31 5271653 core:CurrentFinancialInstruments 2022-12-31 5271653 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 5271653 core:BetweenTwoFiveYears 2022-12-31 5271653 core:WithinOneYear 2022-12-31 5271653 core:FurnitureFittingsToolsEquipment 2022-12-31 5271653 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 5271653

FPZ UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

FPZ UK Limited

(Registration number: 5271653)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

288

617

Current assets

 

Debtors

5

24,824

37,602

Cash at bank and in hand

 

74,764

44,092

 

99,588

81,694

Creditors: Amounts falling due within one year

6

(26,861)

(19,351)

Net current assets

 

72,727

62,343

Net assets

 

73,015

62,960

Capital and reserves

 

Called up share capital

7

15,000

15,000

Retained earnings

58,015

47,960

Shareholders' funds

 

73,015

62,960

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
P D Freeman
Director

 

FPZ UK Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Pavillion
Botleigh Grange Business Park
Hedge End
Southampton
SO30 2AF

The principal place of business is:
8 Winchester Gardens
Andover
Hampshire
SP10 2EH

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

FPZ UK Limited

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

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 7 August 2024 was Mr Jonathan Paul Baggot, who signed for and on behalf of Audit for Business Development and Solutions Ltd .

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

Other property, plant and equipment

20% straight line

 

FPZ UK Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

 

FPZ UK Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

10,562

2,874

13,436

At 31 December 2023

10,562

2,874

13,436

Depreciation

At 1 January 2023

10,331

2,489

12,820

Charge for the year

231

97

328

At 31 December 2023

10,562

2,586

13,148

Carrying amount

At 31 December 2023

-

288

288

At 31 December 2022

232

385

617

 

FPZ UK Limited

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

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

23,853

36,406

Prepayments

 

561

551

Other debtors

 

410

645

   

24,824

37,602

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

(83)

65

Taxation and social security

5,420

2,609

Accruals and deferred income

21,336

16,472

Other creditors

188

205

26,861

19,351

 

FPZ UK Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

15,000

15,000

15,000

15,000

       

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

6,416

-

Later than one year and not later than five years

6,416

-

12,832

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £7,352 (2022 - £Nil).

9

Related party transactions

Summary of transactions with parent

During the year the company received commission income of £131,462 (2022: £108,144) from its parent company (details below).

At the year end £23,853 (2022: £36,406) was owed to the company in respect of this.

 

10

Parent and ultimate parent undertaking

The company's immediate parent is FPZ SpA, incorporated in Italy, the registered office and principal place of business is Via F.lli Cervi 16, Concorezzo, MB 20863.

 The ultimate controlling party is S E Ferigo, by virtue of his majority shareholding.