REGISTERED NUMBER: NI634232 (Northern Ireland)

FPFFM LTD

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Fergus Bain

Louis Murray

Ronan McHugh

REGISTERED OFFICE:

28 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

REGISTERED NUMBER:

NI634232 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this 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 Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 31 December 2024 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

24 September 2025

NON-CURRENT ASSETS

Intangible assets

5

109,074

145,432

Tangible assets

6

108,402

968,913

217,476

1,114,345

CURRENT ASSETS

Stocks

131,325

158,754

Receivables

7

548,669

483,993

Cash at bank and in hand

284,925

147,755

964,919

790,502

PAYABLES

Amounts falling due within one year

8

(449,485

)

(396,437

)

NET CURRENT ASSETS

515,434

394,065

TOTAL ASSETS LESS CURRENT LIABILITIES

732,910

1,508,410

PAYABLES

Amounts falling due after more than one year

9

(195,085

)

(261,133

)

PROVISIONS FOR LIABILITIES

(27,100

)

(29,896

)

NET ASSETS

510,725

1,217,381

CAPITAL AND RESERVES

Called up share capital

202

202

Retained earnings

510,523

1,217,179

510,725

1,217,381

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Louis Murray - Director

Fergus Bain - Director

1.	STATUTORY INFORMATION

FPFFM Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment

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

Freehold property

-

Nil

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Computer equipment

-

25% reducing balance

Inventories

Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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.

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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 35 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

563,580

AMORTISATION

At 1 January 2024

418,148

Amortisation for year

36,358

At 31 December 2024

454,506

NET BOOK VALUE

At 31 December 2024

109,074

At 31 December 2023

145,432

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 January 2024

849,329

124,577

71,014

Additions

-

2,771

1,673

Disposals

(849,329

)

-

-

At 31 December 2024

-

127,348

72,687

DEPRECIATION

At 1 January 2024

-

70,549

49,152

Charge for year

-

8,392

3,469

At 31 December 2024

-

78,941

52,621

NET BOOK VALUE

At 31 December 2024

-

48,407

20,066

At 31 December 2023

849,329

54,028

21,862

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

37,417

25,008

1,107,345

Additions

-

7,448

11,892

Disposals

-

-

(849,329

)

At 31 December 2024

37,417

32,456

269,908

DEPRECIATION

At 1 January 2024

333

18,398

138,432

Charge for year

9,271

1,942

23,074

At 31 December 2024

9,604

20,340

161,506

NET BOOK VALUE

At 31 December 2024

27,813

12,116

108,402

At 31 December 2023

37,084

6,610

968,913

7.	RECEIVABLES

2024

2023

£

£

Trade receivables

466,362

474,670

Amounts owed by group undertakings

40,143

-

Other receivables

42,164

9,323

548,669

483,993

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

67,375

74,868

Hire purchase contracts (see note 11)

9,206

-

Trade payables

145,488

156,502

Taxation and social security

136,676

84,033

Other payables

90,740

81,034

449,485

396,437

9.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2024

2023

£

£

Bank loans (see note 10)

173,088

220,723

Hire purchase contracts (see note 11)

21,997

40,410

195,085

261,133

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

67,375

74,868

Amounts falling due between one and two years:

Bank loans - 1-2 years

173,088

220,723

The bank loan and overdrafts are secured by way of a charge over property held by the company.

A Bounce Back Loan of £14,811 (2023: £25,840) is guaranteed by the UK government.

11.	LEASING AGREEMENTS

Hire purchase liabilities are secured on the assets to which they relate.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a balance of £0 (2023 : £37,644) was owing to the directors from the company).