Acorah Software Products - Accounts Production 14.6.300 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08598758 Mr Miguez Magdalena Veronica Aios Group Limited Mr Javier Palacin Santaolalla Aios Group Limited true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08598758 2022-12-31 08598758 2023-12-31 08598758 2023-01-01 2023-12-31 08598758 frs-core:CurrentFinancialInstruments 2023-12-31 08598758 frs-core:Non-currentFinancialInstruments 2023-12-31 08598758 frs-core:ComputerEquipment 2023-12-31 08598758 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08598758 frs-core:ComputerEquipment 2022-12-31 08598758 frs-core:PlantMachinery 2023-12-31 08598758 frs-core:PlantMachinery 2023-01-01 2023-12-31 08598758 frs-core:PlantMachinery 2022-12-31 08598758 frs-core:ShareCapital 2023-12-31 08598758 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08598758 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08598758 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08598758 frs-bus:SmallEntities 2023-01-01 2023-12-31 08598758 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08598758 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08598758 1 2023-01-01 2023-12-31 08598758 frs-core:CostValuation 2022-12-31 08598758 frs-core:CostValuation 2023-12-31 08598758 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 08598758 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 08598758 frs-core:ListedExchangeTraded 2023-12-31 08598758 frs-core:ListedExchangeTraded 2022-12-31 08598758 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 08598758 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 08598758 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 08598758 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 08598758 frs-bus:Director1 2023-01-01 2023-12-31 08598758 frs-bus:Director1 2022-12-31 08598758 frs-bus:Director1 2023-12-31 08598758 frs-bus:Director2 2023-01-01 2023-12-31 08598758 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08598758 frs-core:CurrentFinancialInstruments 1 2023-12-31 08598758 frs-core:CurrentFinancialInstruments 3 2023-12-31 08598758 frs-core:CurrentFinancialInstruments 5 2023-12-31 08598758 frs-countries:EnglandWales 2023-01-01 2023-12-31 08598758 2021-12-31 08598758 2022-12-31 08598758 2022-01-01 2022-12-31 08598758 frs-core:CurrentFinancialInstruments 2022-12-31 08598758 frs-core:Non-currentFinancialInstruments 2022-12-31 08598758 frs-core:ShareCapital 2022-12-31 08598758 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08598758 frs-core:CurrentFinancialInstruments 1 2022-12-31 08598758 frs-core:CurrentFinancialInstruments 3 2022-12-31 08598758 frs-core:CurrentFinancialInstruments 5 2022-12-31
Registered number: 08598758
Inelsa UK Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08598758
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 5 316,763 316,763
316,763 316,763
CURRENT ASSETS
Debtors 6 48,400 114,146
Investments 7 27,925 27,925
Cash at bank and in hand 1,668 2,648
77,993 144,719
Creditors: Amounts Falling Due Within One Year 8 (166,760 ) (159,097 )
NET CURRENT ASSETS (LIABILITIES) (88,767 ) (14,378 )
TOTAL ASSETS LESS CURRENT LIABILITIES 227,996 302,385
Creditors: Amounts Falling Due After More Than One Year 9 (60,119 ) (125,811 )
NET ASSETS 167,877 176,574
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 166,877 175,574
SHAREHOLDERS' FUNDS 167,877 176,574
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Miguez Magdalena Veronica
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Inelsa UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08598758 . The registered office is 19 The Circle, Queen Elizabeth Street, London, England, SE1 2JE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% SLM
Office Equipment 25% SLM
2.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Plant & Machinery Office Equipment Total
£ £ £
Cost
As at 1 January 2023 10,848 919 11,767
As at 31 December 2023 10,848 919 11,767
Depreciation
As at 1 January 2023 10,848 919 11,767
As at 31 December 2023 10,848 919 11,767
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2023 - - -
As at 1 January 2023 - - -
5. Investments
Listed Other Total
£ £ £
Cost
As at 1 January 2023 316,763 - 316,763
As at 31 December 2023 316,763 - 316,763
Provision
As at 1 January 2023 - - -
As at 31 December 2023 - - -
Net Book Value
As at 31 December 2023 316,763 - 316,763
As at 1 January 2023 316,763 - 316,763
Investments represents:

(a) 308,000 shares in Inelsa Chile SPA for the value of 1000 Chilean pesos each(Total share value in GBP, £316,005.68).

(b) 249 shares in Inelsa Honduras for the value of 100 lempiras each(Total share value in GBP, £757.42).
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 24,089 89,743
CIS Debtors 23,905 23,905
VAT 406 498
48,400 114,146
7. Current Asset Investments
2023 2022
£ £
Short term deposits 27,925 27,925
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 105,275 100,812
Corporation tax (80 ) (80 )
Loan - Electricas Sanxenxo 3,977 3,977
Share Investment Creditors - inelsa 757 757
AIOS Loan 8,200 5,000
Directors' loan accounts 48,631 48,631
166,760 159,097
Page 4
Page 5
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Share Investment Long Term Creditors - Inelsa Chile 60,119 125,811
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Miguez Magdalena Veronica 48,631 - - - 48,631
The above loan is unsecured, interest free and repayable on demand.
12. Related Party Transactions
As at 31st December 2023, the Company owed the Director £48,631(2022:£48,631) which is included under Other Creditors falling due within one year.
Veronica Miguez Magdalena is a shareholder of AIOS G¡roup Limited, which owns 100% shares of Inelsa UK Ltd and a Senior employee of Grupo Hedomin SL. Grupo Hedomin SL owns 91% shares of AIOS Grup Limited which is controlled by three brothers and one of them is a husband to Veronica Miguez Magdalena. Grupo Hedomin SL is a shareholder of both Inelsa Electricade and Inelsa Instalaciones. Inelsa UK Ltd owns shares in Inelsa Chile SPA and Inelsa Honduras, S.A.
During the year to 31/12/2023 the following related party transactions took place:
Inelsa UK Ltd rendered services amounting to £-65,692 (2022:£22,024) to Inelsa Chile SPA, by the end of the year Inelsa UK Ltd had an outstanding amount to receive of £0.00 (2022:£65,692).
AIOS Group Limited rendered services to Inelsa UK Ltd amounting to £4,453 (2022:£6,096); At the year end, AIOS Group Limited owed Inelsa UK Ltd £11,333 (2022:£6,881).
13. Ultimate Controlling Party
The company's ultimate controlling party is Aios Group Limited by virtue of his ownership of 75% or more of the issued share capital in the company.
Page 5