Flux Pumps International (UK) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02029429 (England and Wales)

FLUX PUMPS INTERNATIONAL (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K U Hahn

R Morgan

REGISTERED OFFICE:

11 Enterprise Park

Black Moor Road

Ebblake Industrial Estate

Verwood

Dorset

BH31 6YS

REGISTERED NUMBER:

02029429 (England and Wales)

FIXED ASSETS

Tangible assets

4

48,626

56,441

CURRENT ASSETS

Stocks

332,937

282,345

Debtors

5

209,083

254,320

Cash at bank and in hand

260,470

108,025

802,490

644,690

CREDITORS

Amounts falling due within one year

6

(409,431

)

(310,548

)

NET CURRENT ASSETS

393,059

334,142

TOTAL ASSETS LESS CURRENT LIABILITIES

441,685

390,583

CAPITAL AND RESERVES

Called up share capital

200,000

200,000

Retained earnings

241,685

190,583

441,685

390,583

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:

K U Hahn - Director

1.	STATUTORY INFORMATION

Flux Pumps International (UK) Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Revenue is recognised to the extent that it is probably that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

Straight line over 10 years

Plant and machinery etc

-

Straight line over 3 - 5 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At the balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange

rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-

monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2023

7,286

97,905

105,191

Additions

-

5,882

5,882

At 31 December 2023

7,286

103,787

111,073

DEPRECIATION

At 1 January 2023

2,041

46,709

48,750

Charge for year

732

12,965

13,697

At 31 December 2023

2,773

59,674

62,447

NET BOOK VALUE

At 31 December 2023

4,513

44,113

48,626

At 31 December 2022

5,245

51,196

56,441

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

155,446

202,179

Other debtors

53,637

52,141

209,083

254,320

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

32,051

10,053

Amounts owed to group undertakings

150,000

100,000

Taxation and social security

121,480

107,887

Other creditors

105,900

92,608

409,431

310,548

7.	LEASING AGREEMENTS

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

2023

2022

£

£

Within one year

20,112

18,600

Between one and five years

4,975

24,750

25,087

43,350

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michaela Johns (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

9.	CAPITAL COMMITMENTS

At the balance sheet date, the company had capital commitments totalling £76,895 (2022: £nil). Deposits totalling £1,000 in respect of these commitments are included in prepayments at the balance sheet date.

10.	RELATED PARTY DISCLOSURES

During the year the Company made purchases of £750,307 (2022: £571,325) from Flux-Gerate GMBH, the ultimate parent undertaking. The comparative figures include transactions with Sondermann Pumper + Filter GMBH & Co KG which merged with Flux Gerate GMBH during 2022. At the year end a total of £26,763 (2022: £Nil) was payable in respect of these purchases.

During the year the Company made purchases of £138 (2022: £294) from Flux France SAS, a company controlled by the ultimate parent undertaking. At the year end a total of £Nil (2022: £312) was payable in respect of these purchases..

During the year the Company paid rent totalling £18,600 (2022: £17,400). The property to which the rent relates to is owned by K U Hahn, also a Director of the ultimate parent undertaking. At the year end a total of £Nil (2022: £nil) was payable in respect of this rent.

During the year a close family member of Russell Morgan provided services to the company totalling £1,070 (2022: £nil).

11.	ULTIMATE CONTROLLING PARTY

The ultimate and immediate controlling company is Flux-Gerate GMBH, a company incorporated in Germany.

The ultimate controlling parties are K U Hahn and M Wilhelm.

A copy of the ultimate controlling company's financial statements can be obtained from Flux-Gerate Gmbh, Talweg 12, 75433 Maulbronn, Germany.