REGISTERED NUMBER: |
INTOCAST UK LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
REGISTERED NUMBER: |
INTOCAST UK LIMITED |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INTOCAST UK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Sidings House |
Sidings Court |
Lakeside |
Doncaster |
South Yorkshire |
DN4 5NU |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Intocast UK Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on the going concern basis as in the directors opinion this is the most appropriate basis for their preparation. The company meets its day to day working capital requirements together with long term funding by reliance on loans from Intocast AG. The directors of the ultimate holding company have given their assurance of continued financial and technical support for the foreseeable future. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
Intocast AG |
Parent undertaking |
During the year the company made purchases totalling £4,111,992 (2022: £4,698,955), and sales amounting to £349,743 (2022: £669,635). |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 2,744,580 | 2,187,106 |
Alsical Huttenwerkstechnik GmbH |
Subsidiary of the parent undertaking |
During the year the company made purchases of £84,543 (2022: £40,365) and sales amounting to £nil (2022: £nil). |
Slovmag |
Subsidiary of the parent company |
During the year the company made purchases totalling £146,275 (2022: £116,449) and made sales amounting to £12,724 (2022: £nil). |
Intocast South Africa |
Subsidiary of the parent company |
During the year the company made purchases totalling £nil (2022: £nil) and sales amounting to £17,009 (2022: £5,300) |
2023 | 2022 |
£ | £ |
Amount due from related party at the balance sheet date | 169 | 5,469 |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | RELATED PARTY DISCLOSURES - continued |
Intocast Slovakia |
Subsidiary of the parent undertaking |
During the year the company made purchases of £56,127 (2022: £116,449) and sales amounting to £nil (2022: £nil). |
Pyrol SA DE CV |
Subsidiary of the parent company |
During the year the company made purchases totalling £nil (2022: £nil) and made sales amounting to £4,921 (2022: £2,239). |
2023 | 2022 |
£ | £ |
Amount due from related party at the balance sheet date | 4,910 | - |
Hamag Vertriebs GmbH |
Subsidiary of the parent company |
During the year the company purchased materials totalling £259,042 (2022: £643,315) and made sales to amounting to £11,645 (2022: £16,478). |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 25,329 | 248,516 |
Mapeko Feuer GmbH |
Subsidiary of the parent company |
During the year the company made purchases totalling £16,128 (2022: £178,703) and made sales amounting to £nil (2022: £7,895). |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | - | 79,499 |
INTOCAST UK LIMITED (REGISTERED NUMBER: 04742645) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | RELATED PARTY DISCLOSURES - continued |
Dolomite Franchi Spa |
Subsidiary of the parent company |
During the year the company made purchases totalling £81,026 (2022: £239,208) and sales amounting to £480 (2022: £238,017). |
2023 | 2022 |
£ | £ |
Amount due from related party at the balance sheet date | 483 | - |
Intocast Iberica |
Subsidiary of the parent company |
During the year the company made purchases totalling £964,030 (2022: £2,145,328) and sales amounting to £nil (202: £nil). |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 261,787 | 396,298 |
8. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
9. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Hellas Investments Limited, a company incorporated and registered in Guernsey. |
The immediate parent undertaking of this company is Intocast AG, a company incorporated and registered in Germany. The consolidated accounts of the parent undertaking can be obtained from Pempelfurtstraße 1, 40880 Ratingen, Germany. |