FGH Controls Limited - Accounts to registrar (filleted) - small 23.1.2
FGH Controls Limited - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2022 |
| FOR |
| FGH CONTROLS LIMITED |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 SEPTEMBER 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| FGH CONTROLS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30 SEPTEMBER 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditor |
| 260 - 270 Butterfield |
| Great Marlings |
| Luton |
| Bedfordshire |
| LU2 8DL |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| BALANCE SHEET |
| 30 SEPTEMBER 2022 |
| 2022 | 2021 |
| as restated |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Share premium |
| Capital redemption reserve |
| Other reserves |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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 |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 SEPTEMBER 2022 |
| 1. | STATUTORY INFORMATION |
| FGH Controls Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The company has a deficiency of net assets and the ability of the company to continue as a going concern is therefore dependant on the ongoing support of the parent company and the group. |
| The directors have considered the position of the group which is profitable, and the demand for its goods which is strong. The directors therefore anticipate that the group will make sufficient funds available to support the company's ongoing activities. As a result, the financial statements have been prepared on a going concern basis. |
| Preparation of consolidated financial statements |
| The financial statements contain information about FGH Controls Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents the amounts receivable for services provided and goods sold during the year and derives from the provision of goods falling within the company's ordinary activities. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Short leasehold | - | over remaining period of the lease |
| Plant and machinery | - | Straight line over 5 years |
| Fixtures and fittings | - | Straight line over 2 to 5 years |
| Motor vehicles | - | Straight line over 4 or 5 years |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The company has chosen to adopt Section 11 and 12 of FRS 102 in respect of financial instruments. |
| Basic financial assets and liabilities, including trade and other debtors, trade and other creditors and loans from fellow group companies are recognised at amortised cost. |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Grants |
| Revenue grants are credited to the profit and loss account as to match them with the expenditure to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Short | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 October 2021 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2022 |
| DEPRECIATION |
| At 1 October 2021 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 October 2021 |
| and 30 September 2022 |
| NET BOOK VALUE |
| At 30 September 2022 |
| At 30 September 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| A debenture is in existence over the assets of the company in favour of HSBC Bank Canada which incorporates both a fixed and floating charge over the assets and undertakings of the company. |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2022 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Amounts owed to group undertakings |
| The company has two loans with a group undertaking of $2,500,000 and £600,000 (2021 - $2,500,000, £nil). The loans are repayable after more than one year. The interest rate on the loan are 2.10%. In 2022, the amount of interest paid was £41,976 (2021 - £43,542). |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2022 | 2021 |
| as restated |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | as restated |
| £ | £ |
| Ordinary | £1 | 61,263 | 61,263 |
| Preference | £1 | 50,000 | 50,000 |
| 111,263 | 111,263 |
| 11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| FGH CONTROLS LIMITED (REGISTERED NUMBER: 01298491) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 SEPTEMBER 2022 |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The ultimate parent undertaking and controlling party is 1797509 Alberta ULC which draws up consolidated financial statements. The address of the registered office is 1463 ON-21, Kincardine, ON N2Z 2X3, Canada. |