REGISTERED NUMBER: 04082871 (England and Wales)

FG LIBRARY PRODUCTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

B D Daisy

D Griffin

Mrs C L Daisy

J S Hughes

C Griffin

A J Standen

SECRETARY:

Mrs C L Daisy

REGISTERED OFFICE:

Seebeck House

1 Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

REGISTERED NUMBER:

04082871 (England and Wales)

ACCOUNTANTS:

Phipps Henson McAllister

Chartered Accountants

22-24 Harborough Road

Kingsthorpe

Northampton

NN2 7AZ

FIXED ASSETS

Tangible assets

4

26,514

28,179

CURRENT ASSETS

Stocks

13,409

39,992

Debtors

5

822,108

569,076

Cash at bank

404,625

576,243

1,240,142

1,185,311

CREDITORS

Amounts falling due within one year

6

556,157

499,643

NET CURRENT ASSETS

683,985

685,668

TOTAL ASSETS LESS CURRENT LIABILITIES

710,499

713,847

PROVISIONS FOR LIABILITIES

6,503

6,891

NET ASSETS

703,996

706,956

CAPITAL AND RESERVES

Called up share capital

8

51

51

Capital redemption reserve

49

49

Retained earnings

703,896

706,856

SHAREHOLDERS' FUNDS

703,996

706,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

B D Daisy - Director

1.	STATUTORY INFORMATION

FG Library Products 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenues are recognised once risks and rewards of ownership have passed to the buyer, and the costs

incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

Equipment

Totals

£

£

£

COST

At 1 January 2024

78,932

29,525

108,457

Additions

-

5,834

5,834

At 31 December 2024

78,932

35,359

114,291

DEPRECIATION

At 1 January 2024

67,090

13,188

80,278

Charge for year

2,963

4,536

7,499

At 31 December 2024

70,053

17,724

87,777

NET BOOK VALUE

At 31 December 2024

8,879

17,635

26,514

At 31 December 2023

11,842

16,337

28,179

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

820,975

483,572

Other debtors

1,133

85,504

822,108

569,076

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

314,499

258,527

Amounts owed to group undertakings

49,000

-

Taxation and social security

79,474

25,748

Other creditors

113,184

215,368

556,157

499,643

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

23,899

30,086

Between one and five years

30,787

54,685

54,686

84,771

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

5,100

Ordinary 1p

1p

51

51

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions of £1,775 (2023 - £1,865) were payable to the fund at the balance sheet date.

10.	CONTINGENT LIABILITIES

A cross guarantee and debenture by and between FG Library Products Limited and other members of the group exists in relation to a bank overdraft facility of £50,000 for FG3 Manufacturing Limited and £50,000 for Frem Limited.

11.	RELATED PARTY DISCLOSURES

The company is an associate of Frem Group Limited, whose registered office address is:

Seebeck House

1 Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

12.	ULTIMATE CONTROLLING PARTY

At 31 December 2023, there is no ultimate controlling party.