IRIS Accounts Production v24.1.0.578 13800306 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh138003062022-12-31138003062023-12-31138003062023-01-012023-12-31138003062021-12-13138003062021-12-142022-12-31138003062022-12-3113800306ns15:EnglandWales2023-01-012023-12-3113800306ns14:PoundSterling2023-01-012023-12-3113800306ns10:Director12023-01-012023-12-3113800306ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113800306ns10:SmallEntities2023-01-012023-12-3113800306ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3113800306ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113800306ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113800306ns10:FullAccounts2023-01-012023-12-311380030612023-01-012023-12-3113800306ns10:Director22023-01-012023-12-3113800306ns10:RegisteredOffice2023-01-012023-12-3113800306ns5:CurrentFinancialInstruments2023-12-3113800306ns5:CurrentFinancialInstruments2022-12-3113800306ns5:ShareCapital2023-12-3113800306ns5:ShareCapital2022-12-3113800306ns5:RetainedEarningsAccumulatedLosses2023-12-3113800306ns5:RetainedEarningsAccumulatedLosses2022-12-3113800306ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3113800306ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3113800306ns5:IntangibleAssetsOtherThanGoodwill2022-12-3113800306ns5:IntangibleAssetsOtherThanGoodwill2023-12-3113800306ns5:IntangibleAssetsOtherThanGoodwill2022-12-3113800306ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113800306ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 13800306 (England and Wales)















Fohn Ltd

Unaudited Financial Statements for the Year Ended 31 December 2023






Fohn Ltd (Registered number: 13800306)






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


Fohn Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr H H NyrØnning
Mr JKS Moore





REGISTERED OFFICE: Unit 8, Tan Y Graig
Parc Caer Seion
Conwy
LL32 8FA





REGISTERED NUMBER: 13800306 (England and Wales)





ACCOUNTANTS: Pritchett & Co
Chartered Accountants and Chartered Tax Advisers
16 Wynnstay Road
Colwyn Bay
Conwy
LL29 8NB

Fohn Ltd (Registered number: 13800306)

Balance Sheet
31 December 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 28,900

CURRENT ASSETS
Debtors 5 2,550 11,339
Cash at bank and in hand 14,630 14,453
17,180 25,792
CREDITORS
Amounts falling due within one year 6 190,515 79,208
NET CURRENT LIABILITIES (173,335 ) (53,416 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(173,335

)

(24,516

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (174,335 ) (25,516 )
(173,335 ) (24,516 )

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.

Fohn Ltd (Registered number: 13800306)

Balance Sheet - continued
31 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 25 September 2024 and were signed on its behalf by:





Mr JKS Moore - Director


Fohn Ltd (Registered number: 13800306)

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

1. STATUTORY INFORMATION

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


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 given the continued support of the parent company, Applied Petroleum Technology (UK) Ltd.

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.

An impairment loss has been recognised in the Income Statement, following an assessment at the Balance Sheet date indicating the recoverable amount was less than its carrying value.

Development costs are being amortised evenly over their estimated useful life of five years.

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.


Fohn Ltd (Registered number: 13800306)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 36,125
Additions 134,771
At 31 December 2023 170,896
AMORTISATION
At 1 January 2023 7,225
Charge for year 7,224
Impairments 156,447
At 31 December 2023 170,896
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 28,900

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 2,550 11,339

Fohn Ltd (Registered number: 13800306)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 8,174 12,083
Amounts owed to group undertakings 177,941 65,375
Other creditors 4,400 1,750
190,515 79,208

7. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Applied Petroleum Technology (UK) Ltd, a company incorporated in England and Wales.

Applied Petroleum Technology (UK) Ltd is a wholly owned subsidiary of Applied Petroleum AS, a company incorporated in Norway, which is considered the ultimate controlling party.