Company Registration No. 09820570 (England and Wales)
SESDERMA UK LTD
Unaudited accounts
for the year ended 31 December 2017
SESDERMA UK LTD
Unaudited accounts
Contents
SESDERMA UK LTD
Company Information
for the year ended 31 December 2017
Director
Gabriel Serrano Sanmiguel
Company Number
09820570 (England and Wales)
Registered Office
42a Station Road East
Oxted
Surrey
RH8 0PG
United Kingdom
SESDERMA UK LTD
Statement of financial position
as at
31 December 2017
Tangible assets
8,635
31,798
Inventories
100,960
127,996
Cash at bank and in hand
7,602
6,536
Creditors: amounts falling due within one year
(455,543)
(1,404,480)
Net current liabilities
(111,050)
(1,067,979)
Net liabilities
(102,415)
(1,036,181)
Called up share capital
1,216,552
100
Profit and loss account
(1,318,967)
(1,036,281)
Shareholders' funds
(102,415)
(1,036,181)
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 7 May 2018.
Gabriel Serrano Sanmiguel
Director
Company Registration No. 09820570
SESDERMA UK LTD
Notes to the Accounts
for the year ended 31 December 2017
SESDERMA UK LTD is a private company, limited by shares, registered in England and Wales, registration number 09820570. The registered office is 42a Station Road East, Oxted, Surrey, RH8 0PG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company meets its day to day working capital requirements by support of the parent company.The director believes it is appropriate to prepare the financial statements on a going concern basis which assumes the continued support of the parent company.
If the company is unable to continue in operational existence for the foreseeable future,adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts,provide further liabilities that might arise and reclassify fixed assets as current assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
1.The company has transferred the significant risks and rewards of ownership to the buyer;
2.The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold ;
3.The amount of revenue can be measured reliably;
4.It is probable that the company will receive the consideration due under the transaction;and
5.The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Motor vehicles
25% reducing balance
Computer equipment
33% straight line
SESDERMA UK LTD
Notes to the Accounts
for the year ended 31 December 2017
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
At each 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 profit or loss.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company operates a defined contribution scheme for the benefit of its employees. A defined contribution plan under which the company pays fixed contribution into a seperate entity.Once the contributions have been paid the company has no further payment obligations.
Contributions payable are recognised in the profit and loss account when due.Amounts not paid are shown in accruals as a liability in the balance sheet.The assets of the plan are held separately from the company in independently administered funds.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2017
4,998
25,600
11,048
41,646
Additions
1,273
-
-
1,273
Disposals
-
(25,600)
-
(25,600)
At 31 December 2017
6,271
-
11,048
17,319
At 1 January 2017
1,782
4,833
3,233
9,848
Charge for the year
1,090
-
2,579
3,669
On disposals
-
(4,833)
-
(4,833)
At 31 December 2017
2,872
-
5,812
8,684
At 31 December 2017
3,399
-
5,236
8,635
At 31 December 2016
3,216
20,767
7,815
31,798
Finished goods
100,960
127,996
SESDERMA UK LTD
Notes to the Accounts
for the year ended 31 December 2017
Trade debtors
171,604
112,753
Accrued income and prepayments
5,743
-
Other debtors
58,584
89,216
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
429
-
Trade creditors
(33,201)
339,730
Amounts owed to group undertakings and other participating interests
408,735
948,063
Taxes and social security
50,530
37,717
Other creditors
6,480
56,400
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Share capital
2017
2016
Allotted, called up and fully paid:
1,216,552 Ordinary shares of £1 each
1,216,552
100
Shares issued during the period:
1,216,452 Ordinary shares of £1 each
1,216,452
9
Operating lease commitments
2017
2016
At 31 December 2017 the company has commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
42,544
22,926
10
Transactions with related parties
At the balance sheet date,£ 58,584 was due from the director.The amounts are unsecured,interest free and repayable on demand and within nine (9) months from the balance sheet date.
The parent undertaking and ultimate holding company of the company is Pili Siglo XXI, a company incorporated in Spain.This is the smallest and largest group for which the company belongs to and consolidated accounts are prepared.
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Average number of employees
During the year the average number of employees was 0 (2016: 11).