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REGISTERED NUMBER: 02916212 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Fine Controls (UK) Limited

Fine Controls (UK) Limited (Registered number: 02916212)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Fine Controls (UK) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs J A Jones
Mr D Stride-Price
Mr M O Davies





SECRETARY: Mr M O Davies





REGISTERED OFFICE: Upham House, Bassendale Road
Croft Business Park
Bromborough
Wirral
CH62 3QL





REGISTERED NUMBER: 02916212 (England and Wales)





AUDITORS: Haines Watts
Statutory Auditor
3rd Floor Pacific Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ

Fine Controls (UK) Limited (Registered number: 02916212)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 63,674 31,267

CURRENT ASSETS
Stocks 478,942 484,265
Debtors 5 1,040,754 1,270,642
Cash at bank and in hand 657,533 653,274
2,177,229 2,408,181
CREDITORS
Amounts falling due within one year 6 1,796,629 2,190,740
NET CURRENT ASSETS 380,600 217,441
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,274

248,708

CAPITAL AND RESERVES
Called up share capital 14,006 14,006
Capital redemption reserve 5,995 5,995
Retained earnings 424,273 228,707
SHAREHOLDERS' FUNDS 444,274 248,708

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 11 September 2024 and were signed on its behalf by:





Mrs J A Jones - Director


Fine Controls (UK) Limited (Registered number: 02916212)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Fine Controls (UK) 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold- over 15 years
Plant and machinery- 10% / 33% on cost
Fixtures and fittings- 10% / 33% on cost

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

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.

Fine Controls (UK) Limited (Registered number: 02916212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 18 ) .

Fine Controls (UK) Limited (Registered number: 02916212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 April 2023 61,693 95,369 157,062
Additions 4,100 36,941 41,041
At 31 March 2024 65,793 132,310 198,103
DEPRECIATION
At 1 April 2023 57,991 67,804 125,795
Charge for year 495 8,139 8,634
At 31 March 2024 58,486 75,943 134,429
NET BOOK VALUE
At 31 March 2024 7,307 56,367 63,674
At 31 March 2023 3,702 27,565 31,267

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors 987,300 1,195,127
Other debtors 53,454 75,515
1,040,754 1,270,642

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade creditors 1,564,578 1,953,541
Taxation and social security 201,703 153,554
Other creditors 30,348 83,645
1,796,629 2,190,740

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£ £
Within one year 62,519 57,231
Between one and five years 65,387 129,083
127,906 186,314

Fine Controls (UK) Limited (Registered number: 02916212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

National Westminster Bank plc holds all assets of the company as security in the form of a debenture dated 16/07/1998.

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

The Report of the Auditors was unqualified.

Francis Murphy (Senior Statutory Auditor)
for and on behalf of Haines Watts

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. At 31 March 2024 pension contributions of £180 (2023: £2,720) were payable and included within other creditors.

11. RELATED PARTY DISCLOSURES

The directors operate current accounts with the company to which all transactions of a private nature are charged. Other creditors includes an amount of £2,298 (2023 - £10,058) owed to the director J A Jones. No interest is charged in respect of this balance and it is repayable on demand.

During the year under review the entity paid the directors of the company dividends that amounted to £356,270 (2023 - £557,500).

Rental payments of £45,000 (2023 - £45,000) have been paid during the year in respect of office premises to the pension fund operated by the company (see note 10).