REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
3 DECEMBER 2021 TO 31 DECEMBER 2022 |
FOR |
MARTINEZ OTERO UK, LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
3 DECEMBER 2021 TO 31 DECEMBER 2022 |
FOR |
MARTINEZ OTERO UK, LTD |
MARTINEZ OTERO UK, LTD (REGISTERED NUMBER: 13781871) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 3 December 2021 to 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MARTINEZ OTERO UK, LTD |
COMPANY INFORMATION |
for the Period 3 December 2021 to 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
MARTINEZ OTERO UK, LTD (REGISTERED NUMBER: 13781871) |
BALANCE SHEET |
31 December 2022 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
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 |
MARTINEZ OTERO UK, LTD (REGISTERED NUMBER: 13781871) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 3 December 2021 to 31 December 2022 |
1. | STATUTORY INFORMATION |
Martinez Otero UK, Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has obtained a letter of support from its parent company, Martinez Otero Contract, S.L. The directors of Martinez Otero Contract, S.L. have provided a commitment to provide any financial support which may be necessary in order that the company can meet its liabilities, as they fall due, for a period in excess of 12 months and 1 day from the date on which the audit report is signed. As a result of this commitment the directors have continued to adopt the going concern basis. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
With regard to the accounting policies adopted by the company, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily available from other sources. Such estimates are based on historical experience and other relevant factors and may differ from actual results. All estimates, and associated underlying assumptions, are reviewed on an ongoing basis. |
Turnover |
Turnover is recognised on the fair value of the consideration received or receivable by reference to the stage of completion of contract activity, excluding discounts, rebates, valued added tax and other sales taxes. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Costs on construction contracts are being recognised based on the percentage of completion of the project. |
Financial instruments |
Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102. |
Taxation |
Taxation for the period 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. |
MARTINEZ OTERO UK, LTD (REGISTERED NUMBER: 13781871) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 3 December 2021 to 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 10,000 |
10,000 Ordinary shares of £1 each were allotted and fully paid for |
MARTINEZ OTERO UK, LTD (REGISTERED NUMBER: 13781871) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 3 December 2021 to 31 December 2022 |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our Report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
8. | PARENT COMPANY |
The immediate and ultimate parent company is Martinez Otero Contract, S.L., a company registered in Spain. Copies of the consolidated financial statements of Martinez Otero Contract, S.L. are available from Adva Pontevedra 97, 36689 A Estrada, Ponteverdra, Spain. |