IRIS Accounts Production v24.2.0.383 09587743 Board of Directors 1.1.23 31.12.23 31.12.23 11/9/2024 false true false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh095877432022-12-31095877432023-12-31095877432023-01-012023-12-31095877432021-12-31095877432022-01-012022-12-31095877432022-12-3109587743ns15:EnglandWales2023-01-012023-12-3109587743ns14:PoundSterling2023-01-012023-12-3109587743ns10:Director12023-01-012023-12-3109587743ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109587743ns10:SmallEntities2023-01-012023-12-3109587743ns10:Audited2023-01-012023-12-3109587743ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109587743ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109587743ns10:FullAccounts2023-01-012023-12-3109587743ns10:OrdinaryShareClass12023-01-012023-12-3109587743ns10:Director22023-01-012023-12-3109587743ns10:Director32023-01-012023-12-3109587743ns10:Director42023-01-012023-12-3109587743ns10:CompanySecretary12023-01-012023-12-3109587743ns10:RegisteredOffice2023-01-012023-12-3109587743ns5:CurrentFinancialInstruments2023-12-3109587743ns5:CurrentFinancialInstruments2022-12-3109587743ns5:ShareCapital2023-12-3109587743ns5:ShareCapital2022-12-3109587743ns5:RetainedEarningsAccumulatedLosses2023-12-3109587743ns5:RetainedEarningsAccumulatedLosses2022-12-3109587743ns5:PlantMachinery2023-01-012023-12-3109587743ns5:FurnitureFittings2023-01-012023-12-3109587743ns5:ComputerEquipment2023-01-012023-12-3109587743ns5:LandBuildings2022-12-3109587743ns5:PlantMachinery2022-12-3109587743ns5:FurnitureFittings2022-12-3109587743ns5:ComputerEquipment2022-12-3109587743ns5:LandBuildings2023-01-012023-12-3109587743ns5:LandBuildings2023-12-3109587743ns5:PlantMachinery2023-12-3109587743ns5:FurnitureFittings2023-12-3109587743ns5:ComputerEquipment2023-12-3109587743ns5:LandBuildings2022-12-3109587743ns5:PlantMachinery2022-12-3109587743ns5:FurnitureFittings2022-12-3109587743ns5:ComputerEquipment2022-12-3109587743ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3109587743ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3109587743ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3109587743ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3109587743ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109587743ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109587743ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109587743ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109587743ns5:WithinOneYear2023-12-3109587743ns5:WithinOneYear2022-12-3109587743ns5:BetweenOneFiveYears2023-12-3109587743ns5:BetweenOneFiveYears2022-12-3109587743ns5:AllPeriods2023-12-3109587743ns5:AllPeriods2022-12-3109587743ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 09587743 (England and Wales)














EBROFROST UK LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


EBROFROST UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: S Keck
R Lopez-relimpio
P A Solis
N G Goodsell





SECRETARY: N G Goodsell





REGISTERED OFFICE: Hobbs Lane
Beckley
Rye
East Sussex
TN31 6TS





REGISTERED NUMBER: 09587743 (England and Wales)





AUDITORS: GMP Audit Limited, Statutory Auditor
82 High Street
Tenterden
Kent
TN30 6JG

EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,133,325 2,130,511

CURRENT ASSETS
Stocks 5 355,823 285,415
Debtors 6 1,691,257 584,017
Cash at bank 139,589 254,424
2,186,669 1,123,856
CREDITORS
Amounts falling due within one year 7 1,758,709 1,384,382
NET CURRENT ASSETS/(LIABILITIES) 427,960 (260,526 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,561,285

1,869,985

CAPITAL AND RESERVES
Called up share capital 9 4,787,796 4,787,796
Retained earnings (2,226,511 ) (2,917,811 )
SHAREHOLDERS' FUNDS 2,561,285 1,869,985

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 11th September 2024 and were signed on its behalf by:





N G Goodsell - Director


EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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


1. STATUTORY INFORMATION

Ebrofrost 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 balance sheet, although showing a solvent position, has net current liabilities due to amounts owed to group companies.

The directors are of the opinion that the company in the short term will be able to meet its liabilities but, should it be required the company will continue to be financially supported by its parent company Ebrofrost Holding GmbH.

The directors therefore believe it is appropriate to prepare these financial statements on a going concern basis.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replacement part is derecognised. Repairs and maintenance are charged to the profit or loss during the period in which they are incurred.

No depreciation is provided on assets in the course of construction until the asset is brought into use.

Freehold property is depreciated over its useful economic life, to the extent the net book value is in excess of ts residual value.

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

Cost comprises direct production costs plus a proportion of overheads allocated to the stock on the basis of the normal level of activity.


EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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


2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 14 (2022 - 14 ) .

EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2023 543,667 3,189,225 32,197 24,863 3,789,952
Additions - 337,251 - 7,270 344,521
At 31st December 2023 543,667 3,526,476 32,197 32,133 4,134,473
DEPRECIATION
At 1st January 2023 - 1,605,953 29,492 23,996 1,659,441
Charge for year - 338,186 1,512 2,009 341,707
At 31st December 2023 - 1,944,139 31,004 26,005 2,001,148
NET BOOK VALUE
At 31st December 2023 543,667 1,582,337 1,193 6,128 2,133,325
At 31st December 2022 543,667 1,583,272 2,705 867 2,130,511

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1st January 2023
and 31st December 2023 7,000
DEPRECIATION
At 1st January 2023 1,458
Charge for year 700
At 31st December 2023 2,158
NET BOOK VALUE
At 31st December 2023 4,842
At 31st December 2022 5,542

5. STOCKS
2023 2022
£    £   
Finished goods 293,632 204,157
Raw materials 62,191 81,258
355,823 285,415

EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,077,692 532,350
Other debtors 1,828 899
VAT 25,289 28,569
Prepayments and accrued income 586,448 22,199
1,691,257 584,017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 3,703 4,835
Trade creditors 101,853 73,121
Amounts owed to group undertakings 1,525,569 1,264,071
Taxation and social security 33,100 21,872
Other creditors 94,484 20,483
1,758,709 1,384,382

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 3,703 4,835

Non-cancellable operating leases
2023 2022
£    £   
Within one year 11,508 10,456
Between one and five years 26,774 15,397
38,282 25,853

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,787,796 Ordinary £1 4,787,796 4,787,796

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

The Report of the Auditors was unqualified.

Samantha Whiting FCA (Senior Statutory Auditor)
for and on behalf of GMP Audit Limited, Statutory Auditor

EBROFROST UK LIMITED (REGISTERED NUMBER: 09587743)

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


11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 1,238,034 -

12. RELATED PARTY DISCLOSURES

As a wholly owned subsidiary of Ebro Foods S.A. the company is exempt from the requirements to disclose transactions to other wholly owned members of the group headed by Ebro Foods S.A.

Herba Foods S.L:
Herba Foods S.L provides a cash pooling arrangement with the company, at the year end the company owed Herba Foods S.L. £1,304,397 (2022 - £1,077,860). The arrangement was granted for an unlimited period of time and may be terminated on demand. Interest was being charged at 2% per annum but has since increased as global interest rates have risen and was 6.7% at the year-end.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by Ebrofrost Holding GmbH, a company incorporated in Germany, which holds 100% of the issued share capital of Ebrofrost UK Limited.

The ultimate parent company and controlling party is Ebro Foods S.A., a company incorporated in Spain.

The financial statements of Ebro Foods S.A. which represent the smallest and largest group in which the company is consolidated, are available from Ebro Foods S.A., Paseo de Castellana, 20, 28046, Madrid, Spain.