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REGISTERED NUMBER: 06783127 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FHPP LIMITED

FHPP LIMITED (REGISTERED NUMBER: 06783127)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FHPP LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: C M Hibbert
I Taylor
J Taylor
A Hewitt





REGISTERED OFFICE: Quayside House
Furnival Road
Sheffield
South Yorkshire
S4 7YA





REGISTERED NUMBER: 06783127 (England and Wales)

FHPP LIMITED (REGISTERED NUMBER: 06783127)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 27,924 22,794
27,924 22,794

CURRENT ASSETS
Debtors 7 957,683 891,095
Cash at bank 45,270 74,338
1,002,953 965,433
CREDITORS
Amounts falling due within one year 8 982,583 347,928
NET CURRENT ASSETS 20,370 617,505
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,294

640,299

CREDITORS
Amounts falling due after more than one
year

9

17,500

562,426
NET ASSETS 30,794 77,873

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 9,970 9,970
Retained earnings 20,724 67,803
SHAREHOLDERS' FUNDS 30,794 77,873

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 19 September 2024 and were signed on its behalf by:




C M Hibbert - Director


FHPP LIMITED (REGISTERED NUMBER: 06783127)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

FHPP 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.

The presentation currency of the financial statements is the Pound Sterling (£).


All monetary values stated within these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Going Concern
The major part of the company's working capital is provided by a loan from Rixil Services Limited, the parent company, which is repayable on demand. The directors of Rixil Services Limited have indicated that they will not demand repayment of any funds until the company has sufficient cash reserves so as not to prejudice the company's ability to remain a going concern. However, there is no formal agreement in place.

Having considered the above and projected forecasts prepared by management which demonstrate that the company will have sufficient cash reserves in the year ended 31 December 2024 and beyond to enable it to meet all obligations as they fall due for a period of at least 12 months from the date of signing these financial statements the directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future. For this reason, they continue to adopt the going concern basis for preparing these financial statements.

Turnover
Turnover represents net invoiced sales of professional services, excluding value added tax.

Revenue is recognised when the company has been judged to have achieved the right to consideration resulting from a level of completed performance under individual contracts but only to the extent that the outcome of such contracts can be assessed with reasonable certainty.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been amortised evenly over its estimated useful life of four years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

FHPP LIMITED (REGISTERED NUMBER: 06783127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment, furniture & fittings - 25% on cost
Computer equipment - 33% on 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 37 ) .

FHPP LIMITED (REGISTERED NUMBER: 06783127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 2,000
AMORTISATION
At 1 January 2023
and 31 December 2023 2,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Equipment,
furniture Computer
& fittings equipment Totals
£    £    £   
COST
At 1 January 2023 17,717 222,939 240,656
Additions - 22,580 22,580
At 31 December 2023 17,717 245,519 263,236
DEPRECIATION
At 1 January 2023 17,717 200,145 217,862
Charge for year - 17,450 17,450
At 31 December 2023 17,717 217,595 235,312
NET BOOK VALUE
At 31 December 2023 - 27,924 27,924
At 31 December 2022 - 22,794 22,794

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 810,359 756,941
Amounts due under contracts 35,639 28,383
Other debtors 111,685 105,771
957,683 891,095

Amounts owed by group undertakings are unsecured, have no fixed date of repayment, no interest charge and are repayable on demand.

FHPP LIMITED (REGISTERED NUMBER: 06783127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 195,249 69,349
Amounts owed to group undertakings 577,296 71,113
Taxation and social security 153,422 154,926
Other creditors 46,616 42,540
982,583 347,928

Amounts owed to group undertakings are unsecured, have no fixed date of repayment, no interest charge and are repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 17,500 27,500
Amounts owed to group undertakings - 534,926
17,500 562,426

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 14,858 2,193
Between one and five years 820 32,412
15,678 34,605

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Berry (Senior Statutory Auditor)
for and on behalf of Paul Howley & Co

12. RELATED PARTY DISCLOSURES

During the year the company has received goods and services from fellow group companies free of charge. In prior years a charge was made for these supplies of £262,140 under normal commercial terms.

All other transactions between the company and related parties have been concluded under normal commercial terms.

FHPP LIMITED (REGISTERED NUMBER: 06783127)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

13. ULTIMATE CONTROLLING PARTY

The company's parent company is Rixil Services Limited, incorporated in England and Wales, which produces publicly available consolidated financial statements available on request from its registered office at Quayside House, Furnival Road, Sheffield, S4 7YA.

The ultimate controlling party is C M & J Hibbert by virtue of their 100% interest in the issued share capital of Rixil Services Limited.