FACE_MACANDA_LIMITED - Accounts
FACE_MACANDA_LIMITED - Accounts
Face Macanda Limited is a private company limited by shares incorporated in England and Wales. The registered office is Protec House, Churchill Way, Nelson, BB9 6RT.
The financial statements for the current period covers the 16 month period from 1 September 2021 to 31 December 2022. The previous financial period covered the 12 month period from 1 September 2020 to 31 August 2021. As such, the two periods are not comparable. The accounting period end was amended to align with other group companies period ends.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has not traded during the period or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
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 deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons employed by the company during the period was:
The company is a subsidiary undertaking Protec Fire Detection Public Limited Company which is incorporated in England and Wales The ultimate holding company is Protec Fire and Security Group Limited which is incorporated in England and Wales. This company head the only group in which the results of the company are consolidated.
Robert Bosch UK Holdings Limited acquired 100% of the shares in Protec Fire and Security Group Limited, the company's ultimate parent at that time. The ultimate parent comapny of Robert Bosch UK Holdings Limited and Protec Fire Detection Public Limited Company is now considered to be Bosch Industrietreuhand KG