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REGISTERED NUMBER: 13198078 (England and Wales)













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: J D Blampied
P D Blampied
N M Blampied
G Devenish





REGISTERED OFFICE: Herschel House
58 Herschel Street
Slough
SL1 1PG





REGISTERED NUMBER: 13198078 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered 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 4 157,496 129,711

CURRENT ASSETS
Stocks 761,052 926,490
Debtors 5 234,417 204,040
Cash at bank 76,130 74,601
1,071,599 1,205,131
CREDITORS
Amounts falling due within one year 6 1,741,869 1,760,336
NET CURRENT LIABILITIES (670,270 ) (555,205 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(512,774

)

(425,494

)

CREDITORS
Amounts falling due after more than one year 7 20,479 -
NET LIABILITIES (533,253 ) (425,494 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (533,353 ) (425,594 )
SHAREHOLDERS' FUNDS (533,253 ) (425,494 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

TE PARI PRODUCTS (UK) LTD (REGISTERED NUMBER: 13198078)

BALANCE SHEET - continued
31 March 2024


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 10 September 2024 and were signed on its behalf by:





J D Blampied - Director


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 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.

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
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.

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 3 (2023 - 2 ) .

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 160,209
Additions 62,961
At 31 March 2024 223,170
DEPRECIATION
At 1 April 2023 30,498
Charge for year 35,176
At 31 March 2024 65,674
NET BOOK VALUE
At 31 March 2024 157,496
At 31 March 2023 129,711

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 210,812 185,588
Other debtors 23,605 18,452
234,417 204,040

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 73,914 44,406
Taxation and social security 99,390 58,224
Other creditors & accruals 1,568,565 1,657,706
1,741,869 1,760,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 20,479 -

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 45,000 45,000
Between one and five years 45,000 90,000
90,000 135,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 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.