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REGISTERED NUMBER: 05566345 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FS-ELLIOTT (UK) LIMITED

FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

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


FS-ELLIOTT (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: P C Brown





REGISTERED OFFICE: Victoria House
39 Winchester Street
Basingstoke
Hampshire
RG21 7EQ





REGISTERED NUMBER: 05566345 (England and Wales)





AUDITORS: CBHC (Audit) Limited
Suite 3, Steeple House
Church Lane
Chelmsford
Essex
CM1 1NH

FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
CURRENT ASSETS
Debtors 5 3,050,632 2,938,988
Cash at bank 10,172 2,843
3,060,804 2,941,831
CREDITORS
Amounts falling due within one year 6 94,634 128,851
NET CURRENT ASSETS 2,966,170 2,812,980
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,966,170

2,812,980

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,966,169 2,812,979
SHAREHOLDERS' FUNDS 2,966,170 2,812,980

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 director and authorised for issue on 28 January 2025 and were signed by:





P C Brown - Director


FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

FS-Elliott (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.

Turnover
Turnover represents fees for marketing and selling services. Turnover is recognised upon provision of the service to the customer.

Included within turnover is an adjustment for VAT receipts as expenses are posted at gross with a year end adjustment to other income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% 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.

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.

FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
The director considers it appropriate to adopt the going concern basis because the company's immediate parent company, FS Elliott Co. LLC, has agreed to ensure that sufficient funds are made available, to enable the company to continue to trade and to meet its liabilities as they fall due, for a period of not less than one year from the date of approval of these financial statements.

Financial liability and equity
Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 13,864
DEPRECIATION
At 1 January 2023
and 31 December 2023 13,864
NET BOOK VALUE
At 31 December 2023 -

5. DEBTORS
31/12/23 31/12/22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 2,982,108 2,922,802
Other debtors 64,330 11,992
3,046,438 2,934,794

Amounts falling due after more than one year:
Other debtors 4,194 4,194

Aggregate amounts 3,050,632 2,938,988

FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

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 934 -
Taxation and social security 48,232 90,808
Other creditors 45,468 38,043
94,634 128,851

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/23 31/12/22
£    £   
Within one year 15,604 15,875
Between one and five years - 15,604
15,604 31,479

8. DEFERRED TAX
£   
Balance at 1 January 2023 (233 )
Accelerated capital allowances 42
Balance at 31 December 2023 (191 )

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

The Report of the Auditors was unqualified.

Peter Sartain (FCCA) (Senior Statutory Auditor)
for and on behalf of CBHC (Audit) Limited

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds.

The pension charge amounted to £52,154 (2022 - £49,161).

11. RELATED PARTY DISCLOSURES

During the period, the company received management fee income from its immediate parent company, FS Elliott Co. LLC, in the amount of £1,185,200 (2022 - £1,111,393) in exchange for marketing and selling services. As at 31 December 2023, £2,982,108 was due from the immediate parent company, (2022 - £2,922,802).

During the period the immediate parent company, FS Elliott Co. LLC, provided working capital facilities to the company by way of funding all expenses.

FS-ELLIOTT (UK) LIMITED (REGISTERED NUMBER: 05566345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. ULTIMATE PARENT COMPANY

As at 31 December 2023 the company's ultimate parent company was Fu-Sheng Industrial Co. Limited (incorporated in Taiwan), which is the parent of both the smallest and largest groups of which the company is a member.

Copies of the consolidated financial statements of Fu-Sheng Industrial Co. Limited (incorporated in Taiwan) are available by writing to Fu- Sheng Industrial Co. Limited, No. 172 Nanking East Road, Sec 2, Taipei, Taiwan, R.O.C.