REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TE PARI PRODUCTS (UK) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
TE PARI PRODUCTS (UK) LTD |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TE PARI PRODUCTS (UK) LTD |
COMPANY INFORMATION |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
BALANCE SHEET |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
BALANCE SHEET - continued |
31 March 2024 |
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 |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Te Pari Products (UK) Ltd is a |
The trading address of the company is 2 Arran Road, Perth PH1 3DZ, the United Kingdom. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis as Te Pari Products Limited, a related party company, has confirmed that it will continue to support the company, as required, for a period of at least 12 months and 1 day from the date of this report. |
Related party exemption |
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. |
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 is recognised on delivery of the goods when the risks and rewards are transferred to the customer. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment 2 - 3 years |
Motor vehicles 5 years |
Plant and machinery 5 years |
Stocks |
Stocks are valued at the lower of cost, determined on a first-in-first-out basis, and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102. |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
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. |
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. |
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 |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors & accruals |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Within one year |
Between one and five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RELATED PARTY BALANCES |
During the previous year Te Pari Products International Limited purchased 100% of the shares in Te Pari Products (UK) Ltd from Te Pari Products Limited. The intercompany balance with Te Pari Products Limited from 2022 is now a related party balance by virtue of common individual shareholdings of less than 51%. The loan due to Te Pari Products Limited as at the year end is £1,470,592 (2022: £1,456,103). The loan is repayable on demand with interest of 8.25%. |
11. | ULTIMATE AND IMMEDIATE PARENT COMPANY |
The ultimate and immediate parent company, for which consolidated financial statements are prepared, is Te Pari Products International Limited. The registered address is 16 Wear Street, Oamaru, 9400, New Zealand. The company is also registered in New Zealand. Consolidated accounts are not publicly available. |
12. | ULTIMATE CONTROLLING PARTY |
There is no ultimate controlling party. |