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REGISTERED NUMBER: 03666799 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31st December 2023

for

FICP Limited

FICP Limited (Registered number: 03666799)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FICP Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: S D Rebbetts
C J Hunt





REGISTERED OFFICE: Ansty House
Henfield Road
Small Dole
West Sussex
BN5 9XH





REGISTERED NUMBER: 03666799 (England and Wales)





ACCOUNTANTS: Sigma Partners
Chartered Certified Accountants
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE

FICP Limited (Registered number: 03666799)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,912,855 1,912,855

CREDITORS
Amounts falling due within one year 5 6,701 6,178
NET CURRENT LIABILITIES (6,701 ) (6,178 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,906,154

1,906,677

CREDITORS
Amounts falling due after more than one
year

6

2,100,000

2,100,000
NET LIABILITIES (193,846 ) (193,323 )

CAPITAL AND RESERVES
Called up share capital 1,500,000 1,500,000
Retained earnings (1,693,846 ) (1,693,323 )
SHAREHOLDERS' FUNDS (193,846 ) (193,323 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

FICP Limited (Registered number: 03666799)

Balance Sheet - continued
31st December 2023


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 Board of Directors and authorised for issue on 21st August 2024 and were signed on its behalf by:





S D Rebbetts - Director


FICP Limited (Registered number: 03666799)

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

1. STATUTORY INFORMATION

FICP 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.

Investments in associates
Investments in associate undertakings are recognised at cost.

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.

Going concern
The company is dependent on the support of the preference shareholder who continues to be entitled to receive preference dividends. The executors of the shareholder has indicated that they will continue to support the company as long as is needed to realise the sale of the company's investment.

3. EMPLOYEES AND DIRECTORS

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

FICP Limited (Registered number: 03666799)

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

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1st January 2023
and 31st December 2023 1,912,855
NET BOOK VALUE
At 31st December 2023 1,912,855
At 31st December 2022 1,912,855

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

FI Holding GMBH
Registered office:
Nature of business: Holding company
%
Class of shares: holding
Ordinary 45.00
2023 2022
£    £   
Aggregate capital and reserves 7,856,687 7,629,355
Profit for the year 227,332 -

The company's investment is in an associated company, FI Holding GMBH, a company incorporated in Germany.
The company holds a 45% interest in the ordinary shares of the company.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 6,701 6,178

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other creditors 2,100,000 2,100,000

FICP Limited (Registered number: 03666799)

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

7. PREFERENCE SHARES

The preference shares, which were issued at par carry a dividend of 8% per annum payable half yearly in arrears on 31st March & 30th September.

The dividend rights are cumulative.

In accordance with the provisions of s.830 of the Companies Act 2006 no provision has been made in respect of the preference dividend which as at 31st December 2022 had arrears of £4,032,000
The preference shares carry no voting rights at meetings.

Preference shareholders have a right to receive £1 per share plus accrued dividends in preference to any payments to the ordinary shareholders in the event of a winding up.

8. ULTIMATE CONTROLLING PARTY

The company is considered to be under the control of the executors of the estate of M J Hunt by virtue of being the majority shareholder and the holder of all of the preference shares.