Company registration number 14058977 (England and Wales)
FAZUA UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
FAZUA UK LTD
CONTENTS
Page
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 5
FAZUA UK LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FAZUA UK LTD FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FAZUA UK Ltd for the year ended 30 September 2024 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of FAZUA UK Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of FAZUA UK Ltd and state those matters that we have agreed to state to the board of directors of FAZUA UK Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than FAZUA UK Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that FAZUA UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and result of FAZUA UK Ltd. You consider that FAZUA UK Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of FAZUA UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
17 April 2025
Chartered Accountants
5 Peveril Court
6-8 London Road
Crawley
West Sussex
RH10 8JE
FAZUA UK LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
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2024
2023
Notes
£
£
£
£
Current assets
-
-
Creditors: amounts falling due within one year
3
(126,698)
(126,698)
Net current liabilities
(126,698)
(126,698)
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
(126,798)
(126,798)
Total equity
(126,698)
(126,698)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his 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.
The financial statements were approved and signed by the director and authorised for issue on 17 April 2025
Mr F Reuter
Director
Company registration number 14058977 (England and Wales)
FAZUA UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 21 April 2022
-
Period ended 30 September 2023:
Loss and total comprehensive income
-
(126,798)
(126,798)
Issue of share capital
4
100
-
100
Balance at 30 September 2023
100
(126,798)
(126,698)
Year ended 30 September 2024:
Profit and total comprehensive income
-
Balance at 30 September 2024
100
(126,798)
(126,698)
FAZUA UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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1
Accounting policies
Company information
FAZUA UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company is dormant and no longer meets the going concern criteria. The director has therefore prepared the financial statements on a basis other than that of a going concern. The director is seeking to realise the assets and settle the liabilities of the company in an orderly fashion and considers that the value of the assets and liabilities, as disclosed within these financial statements, represent the realisable values of each.true
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including other creditors, 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.
1.4
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.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
FAZUA UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2023 - 1).
3
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
126,698
116,652
Other creditors
10,046
126,698
126,698
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
5
Parent company
The immediate parent company is Fazua GMBH with 100% holdings in the company. It's registered address is 6 Marie-Curie strasse, Ottobrunn, Germany, 85521.
The ultimate parent company is Volkswagen AG, whose registered address is Berliner Ring 2, Wolfsburg, Niedersachsen, 38440.