Company registration number:
Adapa UK St Helens Limited
for the Year Ended 31 December 2023
Adapa UK St Helens Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited 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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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Adapa UK St Helens Limited
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adapa UK St Helens Limited for the year ended 31 December 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Adapa UK St Helens Limited, as a body, in accordance with the terms of our engagement letter dated 19 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Adapa UK St Helens Limited and state those matters that we have agreed to state to the Board of Directors of Adapa UK St Helens Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Adapa UK St Helens Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Adapa UK St Helens Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Adapa UK St Helens Limited. You consider that Adapa UK St Helens Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Adapa UK St Helens Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Adapa UK St Helens Limited
(Registration number: 01732746)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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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 (liabilities)/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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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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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
Adapa UK St Helens Limited
(Registration number: 01732746)
Balance Sheet as at 31 December 2023
Approved and authorised by the
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Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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.
Going concern
The financial statements have been prepared on a going concern basis.
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.
Foreign currency transactions and balances
Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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.
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.
Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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 |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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- |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Obligations under finance lease and hire purchase contracts |
52,548 |
- |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include finance lease liabilities of £52,548 ( 2022 - £nil ) which are secured on the assets concerned.
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Obligations under finance leases and hire purchase contracts |
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- |
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Amounts owed to group undertakings |
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Creditors inclded finance lease liabilities of £187,922 ( 2022 - £nil ) which are secured on the assets concerned.
Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
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 £5,995 (2022 - £6,129).
Related party transactions |
Included within debtors are the following loans to directors:
2023 |
At 1 January 2023 |
At 31 December 2023 |
Loans |
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2022 |
At 1 January 2022 |
At 31 December 2022 |
Loans |
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Summary of transactions with parent
Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Transactions with group companies were as follows:-
Sales |
Purchases |
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2023 |
2023 |
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£ |
£ |
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Schur Flexibles Uni SAS |
- |
- |
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Adapa Italy Florence SpA |
- |
281,902 |
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Adapa UK Edinburgh Limited |
6,071,213 |
- |
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Adapa France Fontenay Le Compte SAS |
- |
13,967 |
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Adapa Finland Jackobstad Oy |
- |
19,685 |
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Adapa Germany Kempten Gmbh |
- |
184,830 |
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Adapa Germany Freital Gmbh |
9,464 |
3,117 |
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Adapa Denmark Bjert |
553 |
8,004 |
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Adapa Holding GesmbH |
63,521 |
14,669 |
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Schur Flexibles Vacufol Gmbh |
101,174 |
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Adapa Poland |
8,861 |
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Adapa France Averdoingt SAS |
1,317 |
- |
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6,146,068 |
636,209 |
The amounts owed (to)/from group companies are as follows:-
2023 |
2022 |
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£ |
£ |
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Schur Flexibles Uni SAS |
(121,037) |
(121,036) |
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Adapa Italy Florence SRL |
(5,194) |
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Adapa UK Edinburgh Limited |
151,862 |
(13,794) |
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Adapa France Forntenay Le Comte SAS |
(3,203) |
- |
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Adapa Germany Kempten Gmbh |
(39,249) |
6,078 |
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Adapa Germany Freital Gmbh |
- |
655 |
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Adapa Holding GesmbH |
(269,609) |
3,905 |
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Schur Flexibles Vacufol Gmbh |
(6,773) |
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Adapa France Averdoingt SAS |
(11,863) |
(28,221) |
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Adapa Gmbh |
(146,440) |
(146,058) |
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(451,506) |
(298,471) |
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Adapa UK St Helens Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is