F.W.P. Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 02877686 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

F.W.P. LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C D Thompson

B Clayton

N Ainsworth

D Robinson

REGISTERED OFFICE:

6 & 7 Ribblesdale Place

Preston

Lancashire

PR1 3NA

REGISTERED NUMBER:

02877686 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

44,553

33,541

Investments

5

176,417

220,970

209,958

CURRENT ASSETS

Debtors

6

2,085,449

2,269,887

Cash at bank

-

15,262

2,085,449

2,285,149

CREDITORS

Amounts falling due within one year

7

547,656

740,761

NET CURRENT ASSETS

1,537,793

1,544,388

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,758,763

1,754,346

PROVISIONS FOR LIABILITIES

7,764

4,646

NET ASSETS

1,750,999

1,749,700

CAPITAL AND RESERVES

Called up share capital

10

500

Retained earnings

1,750,499

1,749,200

SHAREHOLDERS' FUNDS

1,750,999

1,749,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 25 September 2025 and were signed on its behalf by:

D Robinson - Director

C D Thompson - Director

B Clayton - Director

N Ainsworth - Director

1.	STATUTORY INFORMATION

F.W.P. Ltd. 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 represents amounts receivable in respect of management services provided, net of Value Added Tax.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 10% on reducing balance

Motor vehicles - 25% on reducing balance

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.

Employee 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.

Short-term employee benefits, including holiday pay accrual, are recognised as an expense to in the income statement in the period in which they incurred.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Fixed asset investment

Fixed asset investments are held at cost less provision for impairment.

Grants

Grants received are recognised in the profit and loss account in the same period as the related expenditure.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2024 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

COST

At 1 February 2024

93,388

20,490

113,878

Additions

15,590

-

15,590

At 31 January 2025

108,978

20,490

129,468

DEPRECIATION

At 1 February 2024

61,129

19,208

80,337

Charge for year

4,258

320

4,578

At 31 January 2025

65,387

19,528

84,915

NET BOOK VALUE

At 31 January 2025

43,591

962

44,553

At 31 January 2024

32,259

1,282

33,541

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2024

and 31 January 2025

176,417

NET BOOK VALUE

At 31 January 2025

176,417

At 31 January 2024

176,417

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

31/1/24

£

Trade debtors

828,672

949,296

Amounts owed by group undertakings

965,608

951,055

Other debtors

9,000

-

Directors' current accounts

40,155

49,045

Prepayments and accrued income

242,014

320,491

2,085,449

2,269,887

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/25

31/1/24

£

Bank loans and overdrafts

1,455

-

Amounts owed to group undertakings

1,000

Tax

75,703

186,700

Social security and other taxes

83,183

83,577

Other creditors

10,739

Directors' current accounts

36,651

21,138

Accruals and deferred income

338,925

437,607

547,656

740,761

8.	LEASING AGREEMENTS

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

31/1/25

31/1/24

£

Within one year

58,977

57,807

Between one and five years

85,431

107,552

144,408

165,359

9.	SECURED DEBTS

The following secured debts are included within creditors:

31/1/25

31/1/24

£

Bank overdraft

1,455

-

A debenture dated 21 January 2019 has been filed at companies house in favour of Handelsbanken PLC and is secured over the assets of the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/1/25

31/1/24

value:

£

500

Ordinary

£1

500

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 January 2025 a Director owed the company £40,155. The amount owed is deemed repayable on demand. Interest at a rate of 2.25% has been charged on amounts owing to the company.

12.	RELATED PARTY DISCLOSURES

Included in debtors as at 31 January 2025 is an amount of £20,067 (2024: £5,514) due from Frank Whittle Partnership Limited. The amount outstanding at the year end is deemed repayable on demand and no interest has been charged.

Included in debtors as at 31 January 2025 is an amount of £945,541 (2024: £945,541) due from FWP Group Limited. The amount outstanding at the year end is deemed repayable on demand and no interest has been charged.

Included in creditors as at 31 January 2025 is an amount of £1,000 (2024: £1,000) due to Blezard Limited. The amount outstanding at the year end is deemed repayable on demand and no interest has been charged.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the Directors as disclosed in the Directors report on page 2 by virtue of their shareholding in the parent company, FWP Group Limited