1 1 FPZ UK Limited 05271653 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the production and sale of regenerative / side-channel blowers for the movement of air and technical gases Digita Accounts Production Advanced 6.30.9574.0 true true 05271653 2024-01-01 2024-12-31 05271653 2024-12-31 05271653 bus:OrdinaryShareClass1 2024-12-31 05271653 core:RetainedEarningsAccumulatedLosses 2024-12-31 05271653 core:ShareCapital 2024-12-31 05271653 core:CurrentFinancialInstruments 2024-12-31 05271653 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05271653 core:BetweenTwoFiveYears 2024-12-31 05271653 core:WithinOneYear 2024-12-31 05271653 core:OfficeEquipment 2024-12-31 05271653 core:OtherPropertyPlantEquipment 2024-12-31 05271653 bus:SmallEntities 2024-01-01 2024-12-31 05271653 bus:Audited 2024-01-01 2024-12-31 05271653 bus:FilletedAccounts 2024-01-01 2024-12-31 05271653 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05271653 bus:RegisteredOffice 2024-01-01 2024-12-31 05271653 bus:Director1 2024-01-01 2024-12-31 05271653 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05271653 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05271653 bus:Agent1 2024-01-01 2024-12-31 05271653 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05271653 core:OfficeEquipment 2024-01-01 2024-12-31 05271653 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05271653 core:ParentEntities 2024-01-01 2024-12-31 05271653 1 2024-01-01 2024-12-31 05271653 countries:EnglandWales 2024-01-01 2024-12-31 05271653 2023-12-31 05271653 core:OfficeEquipment 2023-12-31 05271653 core:OtherPropertyPlantEquipment 2023-12-31 05271653 2023-01-01 2023-12-31 05271653 2023-12-31 05271653 bus:OrdinaryShareClass1 2023-12-31 05271653 core:RetainedEarningsAccumulatedLosses 2023-12-31 05271653 core:ShareCapital 2023-12-31 05271653 core:CurrentFinancialInstruments 2023-12-31 05271653 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05271653 core:BetweenTwoFiveYears 2023-12-31 05271653 core:WithinOneYear 2023-12-31 05271653 core:OfficeEquipment 2023-12-31 05271653 core:OtherPropertyPlantEquipment 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 05271653

FPZ UK Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

FPZ UK Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4

Notes to the Financial Statements

5 to 11

 

FPZ UK Limited

Company Information

Directors

Mr P D Freeman

Mr S E Ferigo

Company secretary

Mr S E Ferigo

Registered office

The Pavilion
Botleigh Grange Business Park
Southampton
Hampshire
SO30 2AF

Auditors

Numeric Audit Limited
(Statutory Auditors)Mountbatten House
Grosvenor Square
Southampton
Hampshire
SO15 2JU

 

FPZ UK Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

FPZ UK Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

104,047

131,462

Cost of sales

 

(488)

(103)

Gross profit

 

103,559

131,359

Administrative expenses

 

(113,717)

(118,264)

Operating (loss)/profit

 

(10,158)

13,095

Other interest receivable and similar income

 

-

14

 

-

14

(Loss)/profit before tax

(10,158)

13,109

Taxation

 

2,270

(3,054)

(Loss)/profit for the financial year

 

(7,888)

10,055

Retained earnings brought forward

 

58,015

47,960

Retained earnings carried forward

 

50,127

58,015

 

FPZ UK Limited

(Registration number: 05271653)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

191

288

Current assets

 

Debtors

5

28,953

24,824

Cash at bank and in hand

 

54,892

74,764

 

83,845

99,588

Creditors: Amounts falling due within one year

6

(18,909)

(26,861)

Net current assets

 

64,936

72,727

Net assets

 

65,127

73,015

Capital and reserves

 

Called up share capital

7

15,000

15,000

Retained earnings

50,127

58,015

Shareholders' funds

 

65,127

73,015

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................
Mr P D Freeman
Director

 

FPZ UK Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Pavilion
Botleigh Grange Business Park
Southampton
Hampshire
SO30 2AF

The principal place of business is:
8 Winchester Gardens
Andover
Hampshire
SP10 2EH
United Kingdom

These financial statements were authorised for issue by the Board on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 June 2025 was Mr Jonathan Paul Baggot, who signed for and on behalf of Numeric Audit Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% straight line

Other property, plant and equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative financial instruments are initially recognised at cost, and thereafter at fair value with changes recognised in profit or loss.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

10,563

2,874

13,437

At 31 December 2024

10,563

2,874

13,437

Depreciation

At 1 January 2024

10,563

2,586

13,149

Charge for the year

-

97

97

At 31 December 2024

10,563

2,683

13,246

Carrying amount

At 31 December 2024

-

191

191

At 31 December 2023

-

288

288

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

25,529

23,853

Prepayments

 

657

561

Other debtors

 

2,767

410

   

28,953

24,824

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

66

(83)

Taxation and social security

2,633

5,420

Accruals and deferred income

16,078

21,336

Other creditors

132

188

18,909

26,861

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

15,000

15,000

15,000

15,000

       

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

6,416

6,416

Later than one year and not later than five years

-

6,416

6,416

12,832

The amount of non-cancellable operating lease payments recognised as an expense during the year was £6,416 (2023 - £7,352).

9

Related party transactions

 

FPZ UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)

9

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

73,948

79,468

Contributions paid to money purchase schemes

4,980

4,980

78,928

84,448

Summary of transactions with parent

FPZ SpA (Parent Company) During the year the company received commission income of £104,047 (2023 - £131,462) from its parent company.

Amounts owed to the company at year end, in respect of this, were £25,529 (2023 - £23,853)

10

Parent and ultimate parent undertaking

The company's immediate parent is FPZ SpA, incorporated in Italy. The registered office and principal place of business is Via F.lli Cervi 16, Concorezzo, MB 20863.

 The ultimate controlling party is Mr S E Ferigo.