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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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FISCHBACH (UK) LIMITED
CONTENTS
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FISCHBACH (UK) LIMITED
COMPANY INFORMATION
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FISCHBACH (UK) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024
The directors present the strategic report for the year ended 31 December 2024.
Total sales for the year were comparable to the previous year. This indicated that the UK market was returning to some level of stability after the buoyancy of recent previous years.
Product volumes sold for the trading year were also almost identical (-1.14%) to the previous year. This was in line with customers forecast, based on meetings held with our major customers earlier in 2024 where no real market growth in the UK was anticipated for 2024. Despite pressure from certain larger customers, selling prices were maintained at an acceptable level throughout the year. Cost of energy was still an area of concern. However, a strategic change in how Fischbach UK sourced its energy in 2023 allowed a more predictable & cost-effective outcome than buying energy on the open market. Raw material costs remained relatively stable during the year which helped offset other general cost increases to the business. Overall, a good result for the trading year.
The main threats for the trading year.
1. The main concern for 2024 was the continuing recent uncertainty in the UK market & possible reduced consumer demand. 2. The impact of rising Energy costs to the business. 3. Raw material costs & supply lines remained a concern though recent supplies were more stable than in 2021 & 2022. 4. The impact on the operation due to the growing transition of our UK customers towards recycled products & the potential for disruption on our production lines. 5. The change of UK Government during the second half of the year brought economic concerns to the business. Fortunately, this had minimum impact during the year.
The development of recycled products remains slow in the UK. The fact that Fischbach UK products are exempted from the govt. plastics tax rules allied with the additional cost for these continues to discourage the market from moving over to recycled products.
It is likely the transition to recycled cartridge products in the UK will continue in 2025 but again this will be slow. Primarily as customers look at recycled products from a marketing & environmental position (sustainability, carbon footprint, etc.) rather than as a commercial decision.
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FISCHBACH (UK) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER 2024
The UK managing Director & Germany based shareholders/directors have overall responsibility for the operations of the business.
The UK Managing Director & senior Fischbach UK management meet fortnightly to discuss commercial opportunities, risks, operational activities, compliance, employee matters and H&S. The availability of high quality, relevant information is crucial for the success of these meetings. This enables the management team to make effective decisions, in the best interest of the shareholders, customers, suppliers & employees. The meetings are minuted with actions/follow up for the respective meeting attendees. The UK Managing Director also has individual meetings with senior managers to discuss specific tasks & projects to ensure these are on target to meeting end goals & timings. Understanding the market, customer expectations & providing the right product, at the right price, on a timely basis and with good service is a fundamental operating ethos across the Fischbach group of companies. Fischbach UK has long standing relationship with its main customers & suppliers, and this is anticipated to continue for the future in line with our ethos. Fischbach UK engages with the local communities in which it operates, via personal interaction with its employees, membership of the local chamber of commerce & in supporting local charities such as Halton Haven hospice. To strengthen & improve the relationship with our employees we have recently employed the full-time service of a Human resources staff member. Her role is to interact with our employees to support mental health & wellbeing of our staff. She is also our champion for promoting, equality, diversity & inclusion within the company. Her role reports directly to senior management. The development and skills of our workforce are essential factors in maintaining our number one position in the cartridge manufacturing market in the UK. We have ongoing recruitment & training programmes throughout the company not only to bring new talent on board but also looking to future proof the company as more senior members of our team move towards retirement age. The board continues to place employee development at the centre of our future growth. Operating systems and IT is another essential tool in the organisation. We have our own in-house IT function to resolve any daily IT related issues, but we also utilise the resources of an outsourced IT specialists’ company for more major software/hardware development. Fischbach Germany HQ has significant experience in the global procurement of our raw materials & equipment with leading manufacturers. We work closely with the management team in Germany to ensure we are always well equipped & working towards the same group goals.
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FISCHBACH (UK) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER 2024
Due to the straightforward nature of the business, the company directors are of the opinion that analysis using KPI’s is not necessary for the understanding of the development, performance or position of the business.
Fischbach (UK) Ltd is a highly efficient manufacturer of plastic cartridge systems. The business employs systems & procedures to monitor our performance on a weekly/monthly basis and these will continue to be developed for the future There will also be ongoing training for key personnel along with new staff appointments in the future.
This report was approved by the board and signed on its behalf.
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FISCHBACH (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31ST DECEMBER 2024
The Directors present their report and the financial statements for the year ended 31 December 2024.
The profit for the year, after taxation, amounted to £2,430,709 (2023 - £3,029,781).
Ordinary dividends were paid amounting to £3,850,000. The directors recommend payment of a final dividend amounting to £Nil.
The Directors who served during the year were:
The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the Directors are required to:
∙select suitable accounting policies for the Company's financial statements and then 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 to 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.
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FISCHBACH (UK) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER 2024
The UK market for our products 2025 will continue to be challenging for Fischbach UK.
During 2024 there has been an increasing presence of foreign made competitor products coming into the UK. Initial analysis of the threat has shown these to be cheaper priced but inferior quality products compared to our own. Certain customers have trialled these products but up to now this is not being seen as a serious threat to our business. Nevertheless, a watchful eye will be maintained on this activity. Currently there looms the uncertainty of a Global/UK recession due to geopolitical influences abroad in particular with the new administration in the United States. Import tariffs into the USA & reciprocal EU tariffs levied against the USA could impact costs of our raw materials. General rising costs will also be an impactor to the business & these will be controlled where possible to minimise the impact on our business. New company ownership for Fischbach UK Ltd will present its own challenges. It is anticipated that this will have a positive impact on the business to making Fischbach UK stronger. The strategic forecast from our main customers as to the UK market for 2025 is not overly optimistic. Most are indicating flat growth for the year and are mainly looking to consolidate the business they already have. JIT supplies allied to small lot/mixed load shipping & order processing flexibility is vital to the UK cartridge filling industry. Offshore competitors cannot offer this level of service and as such I believe Fischbach UK will continue to dominate the UK in its market segment due to the high service levels we maintain.
In accordance with section 414C(11) of the Companies Act 2006 Regulations 2013, the directors have included a separate strategic report. This includes information that would have been included in the business review and the principal risks and uncertainties.
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FISCHBACH (UK) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31ST DECEMBER 2024
There have been no significant events affecting the Company since the year end.
The auditors, Alexander Knight & Co Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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FISCHBACH (UK) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FISCHBACH (UK) LIMITED
We have audited the financial statements of Fischbach (UK) Limited (the 'Company') for the year ended 31st December 2024, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.
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FISCHBACH (UK) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FISCHBACH (UK) LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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FISCHBACH (UK) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FISCHBACH (UK) LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit team: Obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework; Inquired of management and those charged with governance their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; Discussed matters about non-compliance with laws and regulations and how fraud might occur including an assessment of how and where the financial statements may be susceptible to fraud. As a result of performing the above, our procedures to respond to the risks identified included the following: Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; All engagement team members were informed of the relevant laws and regulations and potential fraud risks at the planning stage and reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify such items. There are inherent limitations in our audit procedures described above. The more removed the laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to to to detect than those that arise from error as they may involve deliberate concealment or collusion. It remains the primary responsibility of management to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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FISCHBACH (UK) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF FISCHBACH (UK) LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Westgate House
44 Hale Road
Hale
Cheshire
WA14 2EX
23 May 2025
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FISCHBACH (UK) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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FISCHBACH (UK) LIMITED
REGISTERED NUMBER: 00974737
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 30 form part of these financial statements.
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FISCHBACH (UK) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2024
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
The company is a private company limited by shares, registered in England and Wales, registration number 00974737. The address of the registered office is Warrington Road, Manor Park, Runcorn, Cheshire, WA7 1SN.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Functional and presentation currency
Transactions and balances
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
2.Accounting policies (continued)
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Management do not feel that there are any judgements (apart from those involving estimations) that have been made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Estimated useful life and residual value of fixed assets Depreciation of tangible fixed assets have been based on the estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives and residual values, as evidenced by disposals during current and prior accounting periods. Impairment of debtors The company makes an estimate of the recoverable value of trade debtors. When assessing the impairment of trade debtors, management include factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. Stock valuation Stock valuation policy requires the use of estimation escertaining how much of which overheads relate to stock production and how much to general overheads. It also involves the estimation optimum production levels. Both of these then form part of the overhead absorption calculation in determining the final stock valuations.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Analysis of turnover by country of destination:
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
11.Taxation (continued)
Deferred tax is measured on a non-discounted basis at the tax rate which is expected to apply in the periods in which timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. At Budget 2023, the government confirmed that the Corporation Tax main rate for future years starting 1 April 2023 would be 25% with a repayable tax credit rate of 10%.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
13.Tangible fixed assets (continued)
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
Share premium account
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £49,111 (2023 - £45,061). Contributions totalling £12,445 (2023 - £11,878) were payable to the fund at the reporting date and are included in creditors.
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FISCHBACH (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024
The company's immediate parent undertaking at the balance sheet date was Fischbach Beteiligungsgesellschaft mBH, a company incorporated in Germany.
The Ultimate parent undertaking and controlling party at the balance sheet date was Onex Corporation, a limited partnership incorporated in Canada.
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