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REGISTERED NUMBER: 00427249 (England and Wales)












F.A. SECRETT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.A. SECRETT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: C L Secrett
J B Secrett
N Laundy
G Secrett





REGISTERED OFFICE: Hurst Farm
Chapel Lane
MILFORD
Surrey
GU8 5HU





REGISTERED NUMBER: 00427249 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 234,972 236,927
Investments 5 476,917 494,070
711,889 730,997

CURRENT ASSETS
Stocks 188,471 178,597
Debtors 6 808,441 838,855
Cash at bank 1,061,066 1,138,003
2,057,978 2,155,455
CREDITORS
Amounts falling due within one year 7 (279,484 ) (280,922 )
NET CURRENT ASSETS 1,778,494 1,874,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,490,383

2,605,530

CREDITORS
Amounts falling due after more than
one year

8

-

(1,735

)
NET ASSETS 2,490,383 2,603,795

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

BALANCE SHEET - continued
31 December 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 616,615 616,615
Share premium 99,350 99,350
Retained earnings 1,774,418 1,887,830
SHAREHOLDERS' FUNDS 2,490,383 2,603,795

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

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

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 14 September 2024 and were signed on its behalf by:





G Secrett - Director


F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

F.A. Secrett 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.

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 represents net sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each assets over its estimated useful life.

Car park & roads
(included in buildings & premises)10% SL
Fixtures & fittings10% SL
Office equipment12.5% SL
Plant and equipment12.5% SL
Glasshouses & sheds12.5% SL
Motor vehicles25% SL
Buildings & premises5% SL


New nursery
linked to a
useful life of 45
years

No depreciation is charged on freehold land, the cost of which is included within "buildings & premises".

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution benefit scheme for general staff members and a separate executive scheme for the directors. The assets of both schemes are held separately from those of the company, with the assets of the staff scheme being in an independently administered fund. Contributions payable for the year for both schemes are charged in the profit and loss account. During the year the amounts charged to the profit and loss account were £8,325 (2022: £8,178) for the staff scheme and £1,013 (2022: £1,090) for the directors' scheme. At the balance sheet date the amount of unpaid contributions in respect of the financial year was £2,275 (2022: £1,872).

Unlisted investments
Investments in the shares of unquoted companies are stated at cost, less a provision for impairment if applicable.

Details of other unlisted investments are given in note 6.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2022 - 45 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property Buildings machinery
£    £    £   
COST
At 1 January 2023 1,073,895 1,416,175 1,821,044
Additions - - 39,959
At 31 December 2023 1,073,895 1,416,175 1,861,003
DEPRECIATION
At 1 January 2023 949,483 1,416,046 1,745,746
Charge for year 11,630 86 18,092
At 31 December 2023 961,113 1,416,132 1,763,838
NET BOOK VALUE
At 31 December 2023 112,782 43 97,165
At 31 December 2022 124,412 129 75,298

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 296,653 4,760 4,612,527
Additions - - 39,959
At 31 December 2023 296,653 4,760 4,652,486
DEPRECIATION
At 1 January 2023 259,565 4,760 4,375,600
Charge for year 12,106 - 41,914
At 31 December 2023 271,671 4,760 4,417,514
NET BOOK VALUE
At 31 December 2023 24,982 - 234,972
At 31 December 2022 37,088 - 236,927

Included in cost of land and buildings is freehold land of £ 64,207 (2022 - £ 64,207 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 16,320
DEPRECIATION
At 1 January 2023 2,040
Charge for year 2,650
At 31 December 2023 4,690
NET BOOK VALUE
At 31 December 2023 11,630
At 31 December 2022 14,280

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Loans to group undertakings 475,533 492,686
Other investments not loans 1,384 1,384
476,917 494,070

Additional information is as follows:
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 839,393 1,384 840,777
PROVISIONS
At 1 January 2023
and 31 December 2023 839,393 - 839,393
NET BOOK VALUE
At 31 December 2023 - 1,384 1,384
At 31 December 2022 - 1,384 1,384
Loans to
group
undertakings
£   
At 1 January 2023 492,686
New in year 74,499
Other movement (91,652 )
At 31 December 2023 475,533

The balance shown under "Loans to group undertakings" is denominated in euros and is technically repayable on demand, although repayment will not be requested while the Spanish company concerned meets its obligations to FA Secrett Ltd under the terms of a supply agreement.

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 20,642 17,735
Amounts owed by group undertakings 545,647 545,647
Other debtors 42,207 37,519
Corporation tax recoverable 12,057 12,057
VAT 4,241 -
Prepayments and accrued income 4,348 2,497
629,142 615,455

Amounts falling due after more than one year:
Deferred tax asset 179,299 223,400

Aggregate amounts 808,441 838,855

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 1,735 3,202
Trade creditors 197,389 218,124
Social security and other taxes 21,818 11,953
VAT - 1,515
Accruals & other creditors 58,542 46,128
279,484 280,922

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) - 1,735

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 1,735 3,202
Between one and five years - 1,735
1,735 4,937

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,735 4,937

The hire purchase liabilities are secured on the assets to which they relate.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
C L Secrett
Balance outstanding at start of year 19,469 19,469
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 19,469 19,469

G Secrett
Balance outstanding at start of year 10,924 10,924
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,924 10,924

F.A. SECRETT LIMITED (REGISTERED NUMBER: 00427249)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

12. ULTIMATE CONTROLLING PARTY

The controlling party is FAS Holdings Limited.

The ultimate controlling party is C L Secrett.