Company registration number:
Adapa UK St Helens Limited
for the Year Ended 31 December 2022
Adapa UK St Helens Limited
Contents
Company Information |
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Statement of Directors' Responsibilities |
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Balance Sheet |
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Notes to the Financial Statements |
Adapa UK St Helens Limited
Company Information
Directors |
Mr A P Parisi Mr S V Parisi |
Company secretary |
Mr S V Parisi |
Registered office |
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Auditors |
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Adapa UK St Helens Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Adapa UK St Helens Limited
(Registration number: 01732746)
Balance Sheet as at 31 December 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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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 |
( |
( |
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Provisions for liabilities |
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Deferred tax |
(187,014) |
(197,240) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and services and is shown net of value added tax, returns, rebates and discounts. Turnover is recognised when the company has delivered the goods and services to the customer and they are accepted.
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Foreign currency transactions and balances
Deferred Tax
Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are not discounted.
Tangible assets
Tangible assets are stated at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Property improvements |
10% straight line |
Plant and machinery |
15% reducing balance / straight line 5-15 years |
Fixtures and fittings |
15% reducing balance |
Motor vehicles |
33% reducing balance |
Computer equipment |
25% reducing balance |
Stocks
Stocks comprise raw materials and finished goods. Raw materials are stated at the lower of cost and estimated selling price less costs to complete and sell. Finished goods are calculated at selling price and reduced by appropriate margins to the lower of cost and net realisable value.
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight-line basis, except where another systematic basis is more representative of the time pattern in which the economic benefits from the leased asset are consumed.
Defined contribution pension obligation
The company operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.
Reasearch and development
Research expenditure is written off in the period in which it is incurred.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Property Improvements |
Fixtures and fittings |
Plant and machinery |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2022 |
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Additions |
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At 31 December 2022 |
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Depreciation |
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At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Debtors |
Note |
2022 |
2021 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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Corporation tax |
- |
4,480 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Corporation tax |
2,421 |
- |
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Social security and other taxes |
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Other creditors |
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1,033,124 |
1,444,075 |
Creditors: amounts falling due after more than one year
2022 |
2021 |
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Due after one year |
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Amounts owed to group undertakings |
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Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Commitments under operating leases |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
The total amount of financial commitments not included in the balance sheet concerning pensions is £6,129 (2021 - £7,678).
Related party transactions |
Included within debtors are the following loans to directors:
2022 |
At 1 January 2022 |
At 31 December 2022 |
Loans |
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2021 |
At 1 January 2021 |
At 31 December 2021 |
Loans |
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Summary of transactions with parent
Adapa UK St Helens Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Transactions with group companies were as follows:-
Sales |
Purchases |
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2022 |
2022 |
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£ |
£ |
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Schur Flexibles Uni SAS |
- |
65,168 |
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Adapa Italy Florence SpA |
- |
53,337 |
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Schur Flexibles Uni Coextrustion SA |
22,836 |
502,181 |
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Adapa UK Edinburgh Limited |
6,904,035 |
108 |
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Adapa France Fontenay Le Compte SAS |
1,098 |
10,738 |
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Adapa Finland Jackobstad Oy |
- |
2,774 |
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Adapa Germany Kempten Gmbh |
- |
30,332 |
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Adapa Germany Freital Gmbh |
14,964 |
- |
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Adapa Holding GesmbH |
35,355 |
- |
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Adapa France Averdoingt SAS |
1,098 |
47,291 |
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6,979,386 |
711,929 |
The amounts owed (to)/from group companies are as follows:-
2022 |
2021 |
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£ |
£ |
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Schur Flexibles Uni SAS |
(121,036) |
(55,869) |
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Schur Flexibles Uni Coextrustion SA |
- |
(82,070) |
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Adapa UK Edinburgh Limited |
(13,794) |
54,611 |
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Adapa France Forntenay Le Comte SAS |
- |
(28,533) |
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Adapa Germany Kempten Gmbh |
6,078 |
(109,513) |
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Adapa Gmbh |
(146,058) |
- |
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Adapa Germany Freital Gmbh |
655 |
619 |
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Adapa Holding GesmbH |
3,905 |
- |
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Adapa France Averdoingt SAS |
(28,221) |
(58,278) |
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(298,471) |
(279,033) |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is