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REGISTERED NUMBER: 02877686 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

F.W.P. LTD

F.W.P. LTD (REGISTERED NUMBER: 02877686)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.W.P. LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: C D Thompson
B Clayton
N Ainsworth
D Robinson





REGISTERED OFFICE: 6 & 7 Ribblesdale Place
Preston
Lancashire
PR1 3NA





REGISTERED NUMBER: 02877686 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

F.W.P. LTD (REGISTERED NUMBER: 02877686)

BALANCE SHEET
31 JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,541 18,878
Investments 5 176,417 176,417
209,958 195,295

CURRENT ASSETS
Debtors 6 2,269,887 1,644,327
Cash at bank 15,262 190,709
2,285,149 1,835,036
CREDITORS
Amounts falling due within one year 7 740,761 343,963
NET CURRENT ASSETS 1,544,388 1,491,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,754,346

1,686,368

PROVISIONS FOR LIABILITIES 4,646 560
NET ASSETS 1,749,700 1,685,808

CAPITAL AND RESERVES
Called up share capital 9 500 500
Retained earnings 1,749,200 1,685,308
SHAREHOLDERS' FUNDS 1,749,700 1,685,808

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

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

F.W.P. LTD (REGISTERED NUMBER: 02877686)

BALANCE SHEET - continued
31 JANUARY 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 21 October 2024 and were signed on its behalf by:




D Robinson - Director C D Thompson - Director




B Clayton - Director N Ainsworth - Director


F.W.P. LTD (REGISTERED NUMBER: 02877686)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

F.W.P. 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.

Turnover
Turnover represents amounts receivable in respect of management services provided, net of Value Added Tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Employee 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.

Short-term employee benefits, including holiday pay accrual, are recognised as an expense to in the income statement in the period in which they incurred.

F.W.P. LTD (REGISTERED NUMBER: 02877686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Fixed asset investment
Fixed asset investments are held at cost less provision for impairment.

Grants
Grants received are recognised in the profit and loss account in the same period as the related expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023 75,717 20,490 96,207
Additions 17,671 - 17,671
At 31 January 2024 93,388 20,490 113,878
DEPRECIATION
At 1 February 2023 58,548 18,781 77,329
Charge for year 2,581 427 3,008
At 31 January 2024 61,129 19,208 80,337
NET BOOK VALUE
At 31 January 2024 32,259 1,282 33,541
At 31 January 2023 17,169 1,709 18,878

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 176,417
NET BOOK VALUE
At 31 January 2024 176,417
At 31 January 2023 176,417

F.W.P. LTD (REGISTERED NUMBER: 02877686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors 949,296 387,387
Amounts owed by group undertakings 951,055 950,055
Directors' current accounts 49,045 19,263
Tax - 11,285
Prepayments and accrued income 320,491 276,337
2,269,887 1,644,327

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Amounts owed to group undertakings 1,000 -
Tax 186,700 27,492
Social security and other taxes 83,577 133,245
Other creditors 10,739 54,078
Directors' current accounts 21,138 36,441
Accruals and deferred income 437,607 92,707
740,761 343,963

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/1/24 31/1/23
£    £   
Within one year 57,807 64,480
Between one and five years 107,552 157,276
165,359 221,756

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 31/1/23
value: £    £   
500 Ordinary £1 500 500

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 January 2024 a Director owed the company £49,044. The amount owed is deemed repayable on demand. Interest at a rate of 2.25% has been charged on amounts owing to the company.

F.W.P. LTD (REGISTERED NUMBER: 02877686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. RELATED PARTY DISCLOSURES

During the year credit notes were raised to Frank Whittle Partnership Limited in respect of previously charged management fees totalling £40,000 excl VAT. Included in debtors as at 31 January 2024 is an amount of £5,514 (2023: £4,514) due from Frank Whittle Partnership Limited. The amount outstanding at the year end is deemed repayable on demand and no interest has been charged.

Included in debtors as at 31 January 2024 is an amount of £945,541 due from FWP Group Limited. The amount outstanding at th year end is deemed repayable on demand and no interest has been charged.

Included in creditors as at 31 January 2024 is an amount of £1,000 due to Blezard Limited. The amount outstanding at the year end is deemed repayable on demand and no interest has been charged.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the Directors as disclosed in the Directors report on page 2 by virtue of their shareholding in the parent company, FWP Group Limited