Company registration number 11891267 (England and Wales)
ONUBAFRUIT UK LIMITED
Financial Statements
For The Year Ended 31 August 2023
Pages For Filing With Registrar
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Balance Sheet
As At 31 August 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
982
2,591
Current assets
Debtors
5
765,013
313,339
Cash at bank and in hand
133,692
2,331
898,705
315,670
Creditors: amounts falling due within one year
6
(761,504)
(230,207)
Net current assets
137,201
85,463
Net assets
138,183
88,054
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
138,083
87,954
Total equity
138,183
88,054
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 2 February 2024 and are signed on its behalf by:
Mr AT Gomez
Director
Company Registration No. 11891267
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Statement Of Changes In Equity
For The Year Ended 31 August 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 September 2021
100
195,369
195,469
Year ended 31 August 2022:
Profit and total comprehensive income for the year
-
87,585
87,585
Dividends
-
(195,000)
(195,000)
Balance at 31 August 2022
100
87,954
88,054
Year ended 31 August 2023:
Profit and total comprehensive income for the year
-
137,629
137,629
Dividends
-
(87,500)
(87,500)
Balance at 31 August 2023
100
138,083
138,183
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Notes To The Financial Statements
For The Year Ended 31 August 2023
- 3 -
1
Accounting policies
Company information
Onubafruit UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Goods Shed, Jubilee Way, Faversham, Kent, England, ME13 8GD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.6
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47,11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a),12.29(b) and 12.29A;
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Onubafruit S. Coop. as at 31 August 2023 and these financial statements may be obtained from P.E. Mirador del Odiel, C/ Lentisco s/n, Portal 3, Oficina 17, 21001, Huelva.
1.8
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Directors
2
2
Other staff
6
4
Total
8
6
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2023
- 5 -
4
Tangible fixed assets
Office equipment
£
Cost
At 1 September 2022 and 31 August 2023
6,436
Depreciation and impairment
At 1 September 2022
3,845
Depreciation charged in the year
1,609
At 31 August 2023
5,454
Carrying amount
At 31 August 2023
982
At 31 August 2022
2,591
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
654,706
207,684
Other debtors
110,307
105,655
765,013
313,339
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,632
18,096
Amounts owed to group undertakings
699,610
142,531
Corporation tax
33,354
21,255
Other taxation and social security
4,540
3,003
Other creditors
15,368
45,322
761,504
230,207
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
Onubafruit UK Limited
ONUBAFRUIT UK LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 August 2023
- 6 -
8
Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,225 (2022 - £2,725). Employer contributions totalling £266 (2022 - £251) were payable to the fund at the balance sheet date and are included in creditors.
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Iain D Morris FCA
Statutory Auditor:
Chavereys Audit Limited
10
Related party transactions
Transactions with related parties
During the year, the company made purchases of goods from the parent entity of £16,607,790 and services of £57,786. Dividends were declared in respect of shares owned by the parent entity of £87,500. At the year end, the amount owed in respect of these intergroup transactions were £699,610 (2022 - £142,531). This amount is under normal trading credit terms.
11
Parent company
The immediate and ultimate parent company is Onubafruit S. Coop. And, an entity registered in Spain. The smallest and largest group consolidating the results of this company is Onubafruit. S. Coop. And. Accounts for Onubafruit S. Coop. And can be obtained from the registered office of the entity at P.E. Mirador del Odiel, C/ Lentisco s/n,Portal 3, Oficina 17, 21001, Huelva. In the opinion of the directors, there is no single ultimate controlling party.