Elpro UK Limited 06615156 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is sales and technical support for a range of innovative environmental monitoring solutions for the pharmaceutical, life science, biotech and health care industries. Digita Accounts Production Advanced 6.30.9574.0 true true false 06615156 2021-01-01 2021-12-31 06615156 2021-12-31 06615156 core:CurrentFinancialInstruments 2021-12-31 06615156 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 06615156 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 06615156 core:FurnitureFittingsToolsEquipment 2021-12-31 06615156 core:OtherPropertyPlantEquipment 2021-12-31 06615156 bus:SmallEntities 2021-01-01 2021-12-31 06615156 bus:Audited 2021-01-01 2021-12-31 06615156 bus:FullAccounts 2021-01-01 2021-12-31 06615156 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 06615156 bus:RegisteredOffice 2021-01-01 2021-12-31 06615156 bus:Director1 2021-01-01 2021-12-31 06615156 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06615156 core:FurnitureFittings 2021-01-01 2021-12-31 06615156 core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 06615156 core:LandBuildings 2021-01-01 2021-12-31 06615156 core:OtherPropertyPlantEquipment 2021-01-01 2021-12-31 06615156 core:PlantMachinery 2021-01-01 2021-12-31 06615156 core:ParentEntities 2021-01-01 2021-12-31 06615156 1 2021-01-01 2021-12-31 06615156 countries:EnglandWales 2021-01-01 2021-12-31 06615156 2020-12-31 06615156 core:FurnitureFittingsToolsEquipment 2020-12-31 06615156 core:OtherPropertyPlantEquipment 2020-12-31 06615156 2020-01-01 2020-12-31 06615156 2020-12-31 06615156 core:CurrentFinancialInstruments 2020-12-31 06615156 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 06615156 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 06615156 core:FurnitureFittingsToolsEquipment 2020-12-31 06615156 core:OtherPropertyPlantEquipment 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 06615156

Elpro UK Limited

Annual Report and Financial Statements

for the year ended 31 December 2021

 

Elpro UK Limited

Contents

Statement of Financial Position

1

Notes to the Financial Statements

2 to 8

 

Elpro UK Limited

(Registration number: 06615156)
Statement of Financial Position
31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

22,982

31,329

Current assets

 

Stocks

5

17,330

19,028

Debtors

6

195,487

130,333

Cash at bank and in hand

 

297,696

101,481

 

510,513

250,842

Creditors: Amounts falling due within one year

7

(167,924)

(96,481)

Net current assets

 

342,589

154,361

Total assets less current liabilities

 

365,571

185,690

Creditors: Amounts falling due after more than one year

7

(329,881)

(329,881)

Net assets/(liabilities)

 

35,690

(144,191)

Capital and reserves

 

Called up share capital

100,000

100,000

Profit and loss account

(64,310)

(244,191)

Shareholders' funds/(deficit)

 

35,690

(144,191)

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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 1 March 2022
 

.........................................
J Schmid
Director

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Hodson & Co
Wiston House
1 Wiston House
Worthing
West Sussex
BN14 7QL

These financial statements were authorised for issue by the director on 1 March 2022.

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director considers that there are no material uncertainties about the company's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the company.

The director has assessed the impact of the COVID-19 pandemic on the company's operations. The Company continues to rely on support from it's parent company to be able to facilitate any losses that would arise from the current or future impact of COVID-19. Based on these assessments and having regard to the resources available, the director has concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in the financial statements.

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 1 March 2022 was M J Hodson, who signed for and on behalf of Hodson & Co.

.........................................

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

Asset class

Depreciation method and rate

Plant and machinery

over 5 years

Fixtures and fittings

over 10 years

Leasehold

over the lease period

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2020 - 4).

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2021

15,307

36,321

51,628

Additions

-

493

493

At 31 December 2021

15,307

36,814

52,121

Depreciation

At 1 January 2021

8,132

12,167

20,299

Charge for the year

1,531

7,309

8,840

At 31 December 2021

9,663

19,476

29,139

Carrying amount

At 31 December 2021

5,644

17,338

22,982

At 31 December 2020

7,175

24,154

31,329

5

Stocks

2021
£

2020
£

Other inventories

17,330

19,028

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

6

Debtors

2021
£

2020
£

Trade debtors

98,719

59,335

Prepayments

7,500

6,179

Other debtors

89,268

64,819

195,487

130,333

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

5,312

15,270

Taxation and social security

42,371

15,264

Accruals and deferred income

120,241

65,947

167,924

96,481

Creditors: amounts falling due after more than one year

2021
£

2020
£

Due after one year

Other non-current financial liabilities

329,881

329,881

 

Elpro UK Limited

Notes to the Financial Statements
for the year ended 31 December 2021

8

Related party transactions

Summary of transactions with parent

The Company made purchases from Elpro-Buchs AG, the Parent Company during the year, totallling £427,474 (2020:£329,536). At the year end the company had a loan of £329,881 outstanding to the Parent Company (2020 £329,881).

The loan attracts interest at variable commercial rates. The loan may be repaid on a flexible basis but must be repaid in full by 31 December 2026.

 

9

Parent and ultimate parent undertaking

The company's immediate parent is Elpro-Buchs AG, incorporated in Switzerland.

 The ultimate parent is Elpro Group AG, incorporated in Switzerland.

 

10

APB Ethical Standards relevant circumstances

In common with many other businesses of our size and nature we use our auditors for the preparation of the financial statements.