Company registration number 10394099 (England and Wales)
FPH HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
FPH HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
4 - 11
FPH HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
as restated
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
2,772
1,331
Investment property
4
849,109
-
0
Investments
5
11,224,246
9,485,916
12,076,127
9,487,247
Current assets
Trade and other receivables
7
1,115,382
589,146
Cash and cash equivalents
633
3,764,910
1,116,015
4,354,056
Current liabilities
8
(1,158,433)
(1,769,715)
Net current (liabilities)/assets
(42,418)
2,584,341
Total assets less current liabilities
12,033,709
12,071,588
Provisions for liabilities
(253,192)
(76,657)
Net assets
11,780,517
11,994,931
Equity
Called up share capital
10,000
10,000
Non-distributable profits reserve
10
1,194,390
375,916
Distributable retained earnings
10,576,127
11,609,015
Total equity
11,780,517
11,994,931

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

FPH HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024
31 August 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 10 April 2025 and are signed on its behalf by:
S J Williamson
Director
Company Registration No. 10394099
FPH HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
Share capital
Non-distri-butable profits
Retained earnings
Total
Notes
£
£
£
£
As restated for the period ended 31 August 2023:
Balance at 1 March 2022
10,000
70,618
3,603,835
3,684,453
Period ended 31 August 2023:
Profit and total comprehensive income for the period
-
305,298
8,429,180
8,734,478
Dividends
-
-
(424,000)
(424,000)
Balance at 31 August 2023
10,000
375,916
11,609,015
11,994,931
Year ended 31 August 2024:
Profit and total comprehensive income for the year
-
818,474
(673,888)
144,586
Dividends
-
-
(359,000)
(359,000)
Balance at 31 August 2024
10,000
1,194,390
10,576,127
11,780,517
FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
1
Accounting policies
Company information

FPH Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Frederick Road, Edgbaston, Birmingham, West Midlands, United Kingdom, B15 1JN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Dividend income from investments is recognised when the shareholder's right to receive payment has been established.

1.3
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
5 Years straight line
Computers
5 Years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

Property rented to a group entity is accounted for at fair value with changes in fair value recognised in profit or loss.

FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Non-current investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Other fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rental income is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.15

Related parties

The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.

FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 8 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
2
3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 September 2023
1,331
Additions
1,838
At 31 August 2024
3,169
Depreciation and impairment
At 1 September 2023
-
0
Depreciation charged in the year
397
At 31 August 2024
397
Carrying amount
At 31 August 2024
2,772
At 31 August 2023
1,331
4
Investment property
2024
£
Fair value
At 1 September 2023
-
0
Additions
849,109
At 31 August 2024
849,109

The directors consider the above value to be reflective of the fair value on an open market value basis by reference to market evidence of transaction prices for similar properties.

The historical cost of investment property is £849,109.

FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 9 -
5
Fixed asset investments
2024
2023
As restated
£
£
Other investments other than loans
11,224,246
9,485,916
Movements in non-current investments
Shares in
Other investments
Total
£
£
£
Cost or valuation
At 1 September 2023
10,000
9,485,916
9,495,916
Additions
-
646,916
646,916
Valuation changes
-
1,091,414
1,091,414
Disposals
(9,999)
-
(9,999)
At 31 August 2024
1
11,224,246
11,224,247
Impairment
At 1 September 2023
10,000
-
10,000
Impairment loss reversals
(9,999)
-
(9,999)
At 31 August 2024
1
-
1
Carrying amount
At 31 August 2024
-
11,224,246
11,224,246
At 31 August 2023
-
9,485,916
9,485,916
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
11,224,246
9,485,916
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
923
-
0
Amounts owed by group undertakings
175,506
-
0
Other receivables
638,953
589,146
815,382
589,146
FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
7
Trade and other receivables
(Continued)
- 10 -
2024
2023
Amounts falling due after more than one year:
£
£
Other receivables
300,000
-
0
Total debtors
1,115,382
589,146
8
Current liabilities
2024
2023
£
£
Trade payables
346
-
0
Amounts owed to group undertakings
-
0
1,492,752
Corporation tax
-
0
235,704
Other taxation and social security
980
-
0
Other payables
1,157,107
41,259
1,158,433
1,769,715
9
Financial commitments, guarantees and contingent liabilites

As at 31 August 2024, the company had no commitments, guarantees or contingencies (2023: £Nil).

10
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
375,916
70,618
Non distributable profits in the year
818,474
305,298
At the end of the year
1,194,390
375,916
11
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
2.25
229,901
557,867
(280,092)
507,676
229,901
557,867
(280,092)
507,676
FPH HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 11 -
12
Prior period adjustment
Reconciliation of changes in equity
The prior period adjustments do not give rise to any effect upon equity.
Reconciliation of changes in profit for the previous financial period
2023
£
Total adjustments
-
Profit as previously reported
8,734,478
Profit as adjusted
8,734,478
Notes to reconciliation

The accounts have been restated to incorporate the impact of a reclassification of investments. The change has affected the balance sheet as follows:    

 

£

Reduction in current asset investments

(9,485,916)

Increase in fixed asset investments

9,485,916

Impact on net assets

Nil

2024-08-312023-09-01falsefalsefalse10 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS CookS J Williamson103940992023-09-012024-08-31103940992024-08-31103940992023-08-3110394099core:OtherPropertyPlantEquipment2024-08-3110394099core:OtherPropertyPlantEquipment2023-08-3110394099core:Non-currentFinancialInstruments2023-08-3110394099core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3110394099core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3110394099core:CurrentFinancialInstruments2024-08-3110394099core:CurrentFinancialInstruments2023-08-3110394099core:ShareCapital2024-08-3110394099core:ShareCapital2023-08-3110394099core:FurtherSpecificReserve1ComponentTotalEquity2024-08-3110394099core:FurtherSpecificReserve1ComponentTotalEquity2023-08-3110394099core:RetainedEarningsAccumulatedLosses2024-08-3110394099core:RetainedEarningsAccumulatedLosses2023-08-3110394099core:ShareCapital2022-02-2810394099core:FurtherSpecificReserve1ComponentTotalEquity2022-02-2810394099core:RetainedEarningsAccumulatedLosses2022-02-28103940992022-02-2810394099bus:Director22023-09-012024-08-3110394099core:RetainedEarningsAccumulatedLosses2022-03-012023-08-31103940992022-03-012023-08-3110394099core:RetainedEarningsAccumulatedLosses2023-09-012024-08-3110394099core:PlantMachinery2023-09-012024-08-3110394099core:ComputerEquipment2023-09-012024-08-3110394099core:OtherPropertyPlantEquipment2023-08-3110394099core:OtherPropertyPlantEquipment2023-09-012024-08-31103940992023-08-3110394099core:WithinOneYear2024-08-3110394099core:WithinOneYear2023-08-3110394099core:AfterOneYear2024-08-3110394099core:AfterOneYear2023-08-3110394099bus:PrivateLimitedCompanyLtd2023-09-012024-08-3110394099bus:SmallCompaniesRegimeForAccounts2023-09-012024-08-3110394099bus:FRS1022023-09-012024-08-3110394099bus:AuditExemptWithAccountantsReport2023-09-012024-08-3110394099bus:Director12023-09-012024-08-3110394099bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP