Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity72023-01-01false7falsetruefalse 04131874 2023-01-01 2023-12-31 04131874 2022-01-01 2022-12-31 04131874 2023-12-31 04131874 2022-12-31 04131874 c:Director3 2023-01-01 2023-12-31 04131874 d:PlantMachinery 2023-01-01 2023-12-31 04131874 d:PlantMachinery 2023-12-31 04131874 d:PlantMachinery 2022-12-31 04131874 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:MotorVehicles 2023-01-01 2023-12-31 04131874 d:MotorVehicles 2023-12-31 04131874 d:MotorVehicles 2022-12-31 04131874 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:FurnitureFittings 2023-01-01 2023-12-31 04131874 d:FurnitureFittings 2023-12-31 04131874 d:FurnitureFittings 2022-12-31 04131874 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:OfficeEquipment 2023-01-01 2023-12-31 04131874 d:OfficeEquipment 2023-12-31 04131874 d:OfficeEquipment 2022-12-31 04131874 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04131874 d:OtherPropertyPlantEquipment 2023-12-31 04131874 d:OtherPropertyPlantEquipment 2022-12-31 04131874 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04131874 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 04131874 d:CurrentFinancialInstruments 2023-12-31 04131874 d:CurrentFinancialInstruments 2022-12-31 04131874 d:Non-currentFinancialInstruments 2023-12-31 04131874 d:Non-currentFinancialInstruments 2022-12-31 04131874 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04131874 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04131874 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04131874 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04131874 d:ShareCapital 2023-12-31 04131874 d:ShareCapital 2022-12-31 04131874 d:RetainedEarningsAccumulatedLosses 2023-12-31 04131874 d:RetainedEarningsAccumulatedLosses 2022-12-31 04131874 c:FRS102 2023-01-01 2023-12-31 04131874 c:Audited 2023-01-01 2023-12-31 04131874 c:FullAccounts 2023-01-01 2023-12-31 04131874 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04131874 d:WithinOneYear 2023-12-31 04131874 d:WithinOneYear 2022-12-31 04131874 d:BetweenOneFiveYears 2023-12-31 04131874 d:BetweenOneFiveYears 2022-12-31 04131874 d:MoreThanFiveYears 2023-12-31 04131874 d:MoreThanFiveYears 2022-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2022-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2022-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-12-31 04131874 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2022-12-31 04131874 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04131874 2 2023-01-01 2023-12-31 04131874 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 04131874 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 04131874 d:LeasedAssetsHeldAsLessee 2023-12-31 04131874 d:LeasedAssetsHeldAsLessee 2022-12-31 04131874 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04131874










FATH COMPONENTS LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
FATH COMPONENTS LTD
REGISTERED NUMBER: 04131874

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
129,377
134,284

  
129,377
134,284

Current assets
  

Stocks
 5 
91,812
83,406

Debtors due after more than 1 year
  
12,631
12,631

Debtors due within 1 year
  
339,357
246,220

Cash at bank and in hand
  
497,947
339,336

  
941,747
681,593

Creditors: amounts falling due within one year
 7 
(221,813)
(232,399)

Net current assets
  
 
 
719,934
 
 
449,194

Total assets less current liabilities
  
849,311
583,478

Creditors: amounts falling due after more than one year
 8 
(29,720)
(15,633)

Provisions for liabilities
  

Deferred tax
  
(19,880)
(19,856)

  
 
 
(19,880)
 
 
(19,856)

Net assets
  
799,711
547,989


Capital and reserves
  

Called up share capital 
  
20,100
20,100

Profit and loss account
  
779,611
527,889

  
799,711
547,989


Page 1

 
FATH COMPONENTS LTD
REGISTERED NUMBER: 04131874
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






D J Hayes
Director

Date: 15 July 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

FATH Components Limited (04131874) is a private company limited by shares and incorporated in England. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
15% straight line
Office equipment
-
Straight line over 2-3 years
Other fixed assets
-
Straight line over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 6

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
7
7

Page 7

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 January 2023
120,371
52,796
41,326
13,011
31,369


Additions
2,500
46,336
1,920
1,391
1,175


Disposals
-
(45,558)
-
-
-



At 31 December 2023

122,871
53,574
43,246
14,402
32,544



Depreciation


At 1 January 2023
34,812
36,168
17,702
9,561
26,346


Charge for the year on owned assets
25,683
426
4,632
1,973
2,879


Charge for the year on financed assets
-
15,043
-
-
-


Disposals
-
(37,965)
-
-
-



At 31 December 2023

60,495
13,672
22,334
11,534
29,225



Net book value



At 31 December 2023
62,376
39,902
20,912
2,868
3,319



At 31 December 2022
85,559
16,628
23,624
3,450
5,023
Page 8

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 January 2023
258,873


Additions
53,322


Disposals
(45,558)



At 31 December 2023

266,637



Depreciation


At 1 January 2023
124,589


Charge for the year on owned assets
35,593


Charge for the year on financed assets
15,043


Disposals
(37,965)



At 31 December 2023

137,260



Net book value



At 31 December 2023
129,377



At 31 December 2022
134,284

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
39,902
15,830

39,902
15,830

Page 9

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
91,812
83,406



6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
12,631
12,631

Due within one year

Trade debtors
223,773
218,976

Prepayments and accrued income
115,585
27,243

351,989
258,850



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
14,418
11,434

Amounts owed to group undertakings
60,892
69,089

Corporation tax
4,406
714

Other taxation and social security
58,283
93,227

Obligations under finance lease and hire purchase contracts
5,386
6,468

Other creditors
28,081
21,323

Accruals and deferred income
50,347
30,144

221,813
232,399



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
29,720
15,633


Page 10

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Capital commitments


At 31 December 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
55,062
-

55,062
-


10.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
28,935
28,935

Later than 1 year and not later than 5 years
115,740
115,740

Later than 5 years
43,403
72,338

188,078
217,013

2023
2022

£
£


Not later than 1 year
11,886
8,520

Later than 1 year and not later than 5 years
16,666
7,323

28,552
15,843


11.


Controlling party

During the year the company was under the control of W Fath and M J Fath, directors.
The ultimate parent company for the period under review was FATH Industriebeteiligungen GMBH & Co. KG, a company incorporated in Germany. The registered address is: Gewerbepark Hügelmühle 31, 91174 Spalt.

Page 11

 
FATH COMPONENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 12 August 2024 by Stephen Morgan (Senior statutory auditor) on behalf of Shaw Gibbs (Audit) Limited.

 
Page 12