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Financial Statements for the Year Ended 31 December 2021 |
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Fujipoly Europe Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2021 |
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for |
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Fujipoly Europe Limited |
Fujipoly Europe Limited (Registered number: 03645507) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Fujipoly Europe Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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4 Claridge Court |
Lower Kings Road |
Berkhamsted |
Hertfordshire |
HP4 2AF |
Fujipoly Europe Limited (Registered number: 03645507) |
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Balance Sheet |
31 December 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved and authorised by the Board of Directors and authorised for issue on
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Fujipoly Europe Limited (Registered number: 03645507) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Fujipoly Europe Limited is a
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements. |
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The presentational currency is sterling £ and rounded to the nearest pound. |
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Significant judgements and estimates |
In preparing the financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts in the financial statements. These assumptions are reassessed annually as part of the accounts preparation process. |
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In the view of the directors in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material judgement in the next financial year. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable for goods, excluding discounts, rebates, value added tax and other sales tax. |
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Tangible fixed assets |
Tangible fixed assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and impairment. Where parts of an item of tangible fixed assets have different useful lives, they are accounted for as a separate item of tangible fixed assets. |
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Depreciation is provided at the following annual rates in order to write off each asset over its useful estimated life, on a straight line basis or, if held under a finance lease, over the lease term, whichever is shorter. |
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Plant and machinery- 33% on reducing balance, 20% on cost and 10% on cost |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Fujipoly Europe Limited (Registered number: 03645507) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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3. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Basic financial instruments are measured at amortised cost other than investments which are measured at fair value. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acqusition and are readily convertible to known amounts of cash. |
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Foreign exchange |
Transactions denominated in foreign currencies are translated into sterling at the rates ruling at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated a t the rates ruling at this date. |
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Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. |
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The transactions differences are shown in the profit and loss account as a profit/loss on foreign exchange. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Fujipoly Europe Limited (Registered number: 03645507) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Hire purchase contracts (see note 9) |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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There is a rent deposit deed in respect of M.R.C. Pension Trust Limited by way of a first fixed charge for all monies becoming due to the company. |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Hire purchase contracts (see note 9) |
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Fujipoly Europe Limited (Registered number: 03645507) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
31.12.21 | 31.12.20 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable | operating leases |
31.12.21 | 31.12.20 |
£ | £ |
Within one year |
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Between one and five years |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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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. |
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12. | ULTIMATE CONTROLLING PARTY |
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Parent Undertaking |
The company is controlled by Fuji Polymer Industries Co. Limited who owns 100% of the company's issued share capital. |
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Copies of the Fujipoly group's consolidated financial statements are available from; Fuji Polymer Industries Co Limited, 3Fl Eternal Kitayama Bldg 1-3-18 Nishiki, Naka-ku, Nagoya-shi, Aichi 4600003 Japan. |
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Ultimate Controlling Party |
Fuji Polymer Industries Co Limited is controlled by Chugai Co Ltd which is the holding company. |
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Copies of the Chugai Co Ltd's financial statements are available from; Chugai Co Ltd, 5-21-11 Chiyoda Naka-ku Nagoya-shi Aichi 4600012 Japan. |