ESPA-Pumps (U.K) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02414738 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ESPA-PUMPS (U.K) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Vizern Soler

Ms L Reixach Gelaber

A B Chung

REGISTERED OFFICE:

15 Riverside Avenue West

Lawford

Manningtree

Essex

CO11 1UN

REGISTERED NUMBER:

02414738 (England and Wales)

AUDITORS:

LB Group

The Octagon

Suite E2

Middleborough

Colchester

Essex

CO1 1TG

FIXED ASSETS

Tangible assets

4

10,342

15,395

CURRENT ASSETS

Stocks

168,629

156,092

Debtors

5

102,352

93,981

Cash at bank and in hand

155

32,072

271,136

282,145

CREDITORS

Amounts falling due within one year

6

135,628

218,916

NET CURRENT ASSETS

135,508

63,229

TOTAL ASSETS LESS CURRENT LIABILITIES

145,850

78,624

CREDITORS

Amounts falling due after more than one year

7

13,441

102,810

NET ASSETS/(LIABILITIES)

132,409

(24,186

)

CAPITAL AND RESERVES

Called up share capital

9

1,348,052

1,153,427

Retained earnings

(1,215,643

)

(1,177,613

)

SHAREHOLDERS' FUNDS

132,409

(24,186

)

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 15 April 2024 and were signed on its behalf by:

A B Chung - Director

1.	STATUTORY INFORMATION

ESPA-Pumps (U.K) 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 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 is measured at 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.

Plant and machinery etc- 25% on reducing balance

Improvements to property- 20% on cost

Stocks

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

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.

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.

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.

Debtors

Short term debtors are measured at transaction price, less an impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2023

153,623

Disposals

(127,990

)

At 31 December 2023

25,633

DEPRECIATION

At 1 January 2023

138,228

Charge for year

5,053

Eliminated on disposal

(127,990

)

At 31 December 2023

15,291

NET BOOK VALUE

At 31 December 2023

10,342

At 31 December 2022

15,395

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

95,680

90,404

Other debtors

6,672

3,577

102,352

93,981

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

19,246

6,000

Trade creditors

34,016

43,557

Amounts owed to group undertakings

24,937

130,566

Taxation and social security

27,591

29,367

Other creditors

29,838

9,426

135,628

218,916

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

13,441

19,000

Amounts owed to group undertakings

-

83,810

13,441

102,810

8.	LEASING AGREEMENTS

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

2023

2022

£

£

Within one year

36,547

27,500

Between one and five years

24,047

41,500

60,594

69,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,348,052

Ordinary

1

1,348,052

1,153,427

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

The Report of the Auditors was unqualified.

Oliver James White (Senior Statutory Auditor)

for and on behalf of LB Group

11.	RELATED PARTY DISCLOSURES

The controlling party is ESPA 2025 S.L.

The registered address of ESPA 2025 S.L is: Carretera De Mieres, S/N, Banyoles, Girona, Spain, 17820.

The ultimate controlling party is ESPA Team, SL.

The registered address of GTE Soportes Industriales, SL is: Carrer del Pintor Pigem, 56, 17820 Banyoles, Girona, Spain