REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
FS-ELLIOTT (UK) LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
and 31 December 2023 |
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 |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
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 |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31/12/23 | 31/12/22 |
£ | £ |
Within one year |
Between one and five years |
8. | DEFERRED TAX |
£ |
Balance at 1 January 2023 | ( |
) |
Accelerated capital allowances | 42 |
Balance at 31 December 2023 | ( |
) |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |