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Registration number: 09795570

Ajusa UK Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2022

 

Ajusa UK Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Ajusa UK Limited

Company Information

Director

M A Rodriguez

Registered office

Unit 25
Hortonwood 33
Telford
Shropshire
TF1 7EX

Auditors

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Ajusa UK Limited

(Registration number: 09795570)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

2,629

67

Current assets

 

Stocks

6

172,995

140,018

Debtors

7

135,902

84,583

Cash at bank and in hand

 

70,709

52,039

 

379,606

276,640

Creditors: Amounts falling due within one year

8

(302,731)

(221,363)

Net current assets

 

76,875

55,277

Net assets

 

79,504

55,344

Capital and reserves

 

Called up share capital

9

450,000

450,000

Retained earnings

(370,496)

(394,656)

Shareholders' funds

 

79,504

55,344

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2023
 


M A Rodriguez
Director

 

Ajusa UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

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:
Unit 25
Hortonwood 33
Telford
Shropshire
TF1 7EX
United Kingdom

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 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

In the opinion of the director, continued financial support from group companies will be available such that the company will continue to trade and satisfy its financial commitments.

On the basis of this opinion the financial statements have been prepared on the going concern basis, if, for whatever reason, the necessary financial support is not forthcoming then the basis may be inappropriate.

Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 September 2023 was Louise Osselton FCA, who signed for and on behalf of CBSL Accountants Limited.

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.

 

Ajusa UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

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 balance sheet 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:

Asset class

Depreciation method and rate

Warehouse equipment

25% straight line

Office equipment

25% straight line

ERP software

33% straight line

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.

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 3 (2021 - 3).

 

Ajusa UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

4

Auditors' remuneration

2022
£

2021
£

Audit of the financial statements

2,850

2,650


 

5

Tangible assets

Furniture, fittings and equipment
 £

Warehouse equipment
£

Total
£

Cost or valuation

At 1 January 2022

14,055

9,927

23,982

Additions

1,528

1,195

2,723

At 31 December 2022

15,583

11,122

26,705

Depreciation

At 1 January 2022

13,988

9,927

23,915

Charge for the year

149

12

161

At 31 December 2022

14,137

9,939

24,076

Carrying amount

At 31 December 2022

1,446

1,183

2,629

At 31 December 2021

67

-

67

6

Stocks

2022
£

2021
£

Other inventories

164,325

140,018

Goods in transit

8,670

-

172,995

140,018

 

Ajusa UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

7

Debtors

Current

2022
£

2021
£

Trade debtors

128,710

82,186

Prepayments

7,059

2,264

Other debtors

133

133

 

135,902

84,583

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

9,645

3,180

Amounts owed to group undertakings and undertakings

239,729

177,530

Taxation and social security

49,152

36,995

Other creditors

4,205

3,658

302,731

221,363

9

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £50 each

9,000

450,000

9,000

450,000

         

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £15,367 (2021 - £33,807).

11

Related party transactions

During the period the company made purchases from Auto-Juntas S.A.U. totalling £500,385 (2021 - £447,886). At the period end monies due to Auto-Juntas S.A.U. totalled £239,729 (2021 - £177,530), which is included in creditors falling due within one year.

 

Ajusa UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

12

Parent and ultimate parent undertaking

The company's immediate parent is Auto-Juntas S.A.U, incorporated in Spain.

 The ultimate parent is Corporacion HMS Hermasan S.L, incorporated in Spain.