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REGISTERED NUMBER: 01461276 (England and Wales)















STAPPERT UK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STAPPERT UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr T R A Philippe
Mr A. Iacovella





REGISTERED OFFICE: Unit 7 Symondscliff Way
Portskewett
Caldicot
NP26 5PW





REGISTERED NUMBER: 01461276 (England and Wales)





AUDITORS: Folkes Worton LLP
Chartered Accountants and Statutory Auditor
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 454,463 379,025

CURRENT ASSETS
Stocks 1,809,924 1,288,339
Debtors 5 1,688,677 1,248,778
Cash at bank and in hand 313,823 352,405
3,812,424 2,889,522
CREDITORS
Amounts falling due within one year 6 1,664,218 764,469
NET CURRENT ASSETS 2,148,206 2,125,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,602,669

2,504,078

CREDITORS
Amounts falling due after more than one year 7 (2,398,032 ) (2,093,753 )

PROVISIONS FOR LIABILITIES - (18,322 )
NET ASSETS 204,637 392,003

CAPITAL AND RESERVES
Called up share capital 108,000 108,000
Retained earnings 96,637 284,003
SHAREHOLDERS' FUNDS 204,637 392,003

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 16 July 2024 and were signed on its behalf by:




Mr T R A Philippe - Director



Mr A. Iacovella - Director


STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Stappert UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors have taken note of the guidance issued by the Financial Reporting Council on Going Concern Assessment in determining that this is the appropriate basis of preparation of the financial statements and have considered a number of factors.

The companies figures are included in the consolidated results of the ultimate parent company, Jacquet Metals SA for the year ended 31 December 2023. These accounts are available from Rue Michel Jacquet, 69802 lyon, Saint-Priest Cedex.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised;

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
-the company has transferred the significant risks and rewards of ownership to the buyer;
-the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
-the amount of revenue can be measured reliably
-it is probable that the company will receive the consideration due under the transaction; and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over the estimated useful lives, using the straight line method.

The estimated useful lives range as follows;

Plant and machinery between 3 and 10 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment, If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss.

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 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.

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.

The functional and presentational currency is Pounds Sterling.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit and 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 and loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The Company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However of the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed a rate of interest that is not a market rate or in case of an outright short term loan not at market rates, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the new amount reported in the Balance Sheet where there is an enforceable right to set off the recognised amounts and there is an intention to settle on a new basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 8 ) .

STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 425,941
Additions 141,237
At 31 December 2023 567,178
DEPRECIATION
At 1 January 2023 46,916
Charge for year 65,799
At 31 December 2023 112,715
NET BOOK VALUE
At 31 December 2023 454,463
At 31 December 2022 379,025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,535,019 1,234,300
Other debtors 153,658 14,478
1,688,677 1,248,778

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 765,375 201,715
Amounts owed to group undertakings 602,398 342,568
Taxation and social security 270,076 182,294
Other creditors 26,369 37,892
1,664,218 764,469

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,398,032 2,093,753

STAPPERT UK LIMITED (REGISTERED NUMBER: 01461276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 205,247 203,681
Between one and five years 235,153 404,951
440,400 608,632

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Meredith (Senior Statutory Auditor)
for and on behalf of Folkes Worton LLP

10. ULTIMATE CONTROLLING PARTY

In the directors opinion, the company's immediate and ultimate parent undertaking and controlling party is Jacquet Metals SA, which is incorporated in France. Copies of its accounts, which include the company, are available from Rue Michel Jacquet, 69802 Lyon, Saint-Priest Cedex. This is the largest company that consolidates the results of the company.